Iowa Speedway Sold To Clement Family

Sports

July 6th, 2011 by Jim Field

 By LUKE MEREDITH
 AP Sports Writer
     DES MOINES, Iowa (AP) – Featherlite Inc. founder Conrad Clement
and his family have purchased the Iowa Speedway.
     Officials announced Tuesday that the family known for
Featherlite aluminum trailers has purchased the holding company
that owns the five-year-old track, U.S. Motorsports Corp., from the
Manatt family. Terms were not disclosed.
     The Manatts own a Brooklyn, Iowa-based construction company.
They’ve been the primary investor since the track was built in 2006
but had intended to transfer controlling interest in five years.
     The 0.875-mile track has been a hit with fans in Iowa since it
opened.
     This year, Iowa has four major events on the schedule, including
last month’s IndyCar race, two NASCAR Nationwide events and a
NASCAR trucks series event on July 16.
     Track officials say Rusty Wallace will remain a minority owner
and that no staff changes are planned.