The New Hampshire Motor Speedway in Loudon is one of the most recognizable motorsport venues in the world. It sits on a 1.86 million square foot (176,000 m²) track that can hold 220,000 people and is often referred to as the “granddaddy of them all.” It is one of the oldest active sports venues still in continuous operation. The track opened in 1927 and was originally called the “Newark Speedway.” In 1939, the track was renamed after the city of New Hampshire’s famed race track.
In addition to being the oldest active NASCAR venue, the New Hampshire Speedway is also one of the most storied venues in all of motorsport. Many historical events have taken place there, including the first motor speedway points race in the United States, a record 12 Summer Nationals, and many more. As fate would have it, this year is the 100th anniversary of the track’s existence and they are celebrating this historical milestone with various events planned throughout the year.
The question that everyone wants to know the answer to is – who owns New Hampshire Speedway?
Traditionally, a motorsport venue like this would be owned by a corporation or a group of investors. These owners would fund the construction of the track and would be the ones to profit from its operation. However, these days a motorsport venue can be owned and operated by a single individual or a family — and this is the case with the New Hampshire Speedway.
A Family Business
The Speedway is owned and operated by a family with roots in the racing industry. The current owners, the Maloof family, purchased the track from the DeBoer family in 1994 for $16 million. The track had been operating under bankruptcy protection since 1985.
The DeBoer family had owned the track for almost 40 years previously and was, at the time of the purchase, struggling with financial issues. This was mainly due to rising operating costs and an increasing demand for admission to the venue. After the purchase, the Maloof family immediately began making changes to the venue. They modernized and improved the infrastructure, increased sponsorship opportunities, and began raising money for a variety of charities and causes through corporate partnerships and ticket sales.
One of the first major changes that the Maloofs made was to the track’s name. In the 1980s, the track was known as the “Newark International Speedway” due to its initial ties to the international auto racing scene. However, the Maloofs decided to drop the “International” from the venue’s name as they felt that it was unfair to other tracks to be associated with the international racing scene. They felt that it created an unfair competitive edge and began using the current name, the New Hampshire Speedway, as the track’s moniker.
The Maloofs also made improvements to the track itself by constructing a new stands, renovating the restrooms, and upgrading the lighting. In 1997, they completed a two-year, $29 million project to renovate the track. This project included a new entryway, grandstands, and public address system.
Broadcasting Home Venues For NASCAR
This year marks the 100th anniversary of the New Hampshire Speedway. To celebrate this historical milestone, they are doing a number of things to give fans special experiences. One of the main attractions is the broadcast of the NASCAR race on Monday nights throughout the summer and on weekends in the winter.
Additionally, they are working with local TV stations to provide them with race broadcasts from various NASCAR venues. This provides these local TV stations with an opportunity to cherry pick some of the best races from across the country and offers fans a chance to follow the race from start to finish no matter where they are located.
Changes To Make The Venue More Attractive To Spectators
With any business, changes need to be made in order to make the place more appealing to potential customers. The New Hampshire Speedway is no different and, in fact, they have made numerous changes to the venue to make it more desirable to race fans and potential sponsors.
One of the first changes that they made was constructing a new “fan park” – named for themselves – adjacent to the track. The park features a bar, food trucks, and a movie screen. It also has a stage where live music is often played during the NASCAR race weekend. In addition to the food trucks, there are also individual concession stands throughout the park.
They have also increased the parking space, made it more convenient for fans to get to the venue, and have provided them with easy access to the grandstands. The Maloofs have also implemented a new policy where anyone who is 18 years of age or older can enter for free. This is to allow them to draw more spectators and to make the place more family-friendly.
Why Are The Maloofs Making These Changes?
The initial investment in the New Hampshire Speedway was funded entirely by Bill Maloof. He is the president of the track’s ownership group. His grandfather, Al, purchased the track from its original operators and his father, Joe, took over operation of the venue in 1963. Since then, the track has been passed down from generation to generation.
The reason that the Maloofs are making these changes is because they want to ensure the continued existence of their track. The demand for admission is going up as fans are staying longer and wanting to see more. The changes that they have made will allow them to draw more spectators by creating more parking spaces, offering them easier access, and expanding the food options. These are all small steps, but they are steps that they feel will make a difference. That is why they are passionate about this issue and are working hard to ensure that their track continues to be a part of the motorsports landscape for years to come.
What Does The Future Hold For The New Hampshire Speedway?
It is too soon to tell what the future holds for the New Hampshire Speedway. However, one thing is for sure – this 100th anniversary is going to be celebrated in grand fashion. This year has been a struggle due to the COVID-19 pandemic. However, with the economy now on the upswing, the Maloofs are hopeful that they will see an improvement in their business.
They are going to make these expensive renovations to the track and are looking for ways to make their investment back — and then some. With the right marketing and a little bit of luck, they are sure that they can continue to operate the New Hampshire Speedway for many years to come.