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Construction of MIR Dirt Track Cancelled

Thursday, October 15, 2015

IRG Sports + Entertainment™ (IRGSE) announced today that the construction of a 3/10-mile dirt track at Memphis International Raceway™ (MIR) has been cancelled. The project was announced earlier this year with a scheduled opening date of Summer 2015.

IRGSE reviewed the updated projected costs and the performance of the proposed dirt track investment and determined the return on investment wasn't sufficient enough to warrant the increased cost necessary to build the facility. The updated financial commitment to build the new dirt track at MIR tripled compared to the initial projections. 

"We had hoped that the dirt track would be a viable option but based on examining the best use of capital for future return, it was determined that the project should be cancelled," stated IRGSE CFO Louis F. Partenza. "Looking ahead, IRGSE will continue to enhance the fan and racer experience by investing into our current properties with facility upgrades and the addition of new events."

MIR is the Mid-South's premiere racing destination for racers and spectators alike. The facility boasts three complete tracks including a road course, historic drag strip, and a ¾-mile paved tri-oval. MIR is owned by IRG Sports + Entertainment™ (IRGSE) and is sanctioned by the International Hot Rod Association™ (IHRA). For more information on MIR, please visit www.RaceMIR.com or connect with us on Facebook, Twitter and Instagram @RaceMIR.

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