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110-488: Ollen Bruton Smith (March 3, 1927 – June 22, 2022) was an American motorsports executive and businessman. He was best known as the owner of two public companies, Speedway Motorsports, Inc. (SMI) and Sonic Automotive . Smith held the positions of vice president and general manager of the Charlotte Motor Speedway and later was the chief executive officer (CEO) of both Speedway Motorsports and Sonic Automotive. He

220-534: A butcher knife , repeatedly threatening her with physical harm if she began legal proceedings against him. In response to the allegations made by Bonnie, Bruton filed a court document in August 1988, in which while he admitted to destroying the portrait but denied all other allegations. In addition, he accused his wife of adultery , stating that he believed that Bonnie was not fit to have custody of his four living children. In November of that year, Bruton agreed to pay $ 6,000

330-537: A dragstrip at Lowe's Motor Speedway (now called Charlotte Motor Speedway) to host National Hot Rod Association (NHRA) events. By late September of that year, however, the Concord City Council had called for a special session to potentially block Smith's plans, with concerns including the noise level, pollution, and fumes affecting local residents and businesses in the Concord area. Smith vehemently disagreed with

440-519: A "visionary   .... He yearned every day to work. His idea of going on vacation was going out of town to work". Smith was also known to possess a mysterious persona. The Charlotte Observer writer Dick Stilley called Smith "a mystery even to his friends" in a 1982 article that referenced many industry leaders' thoughts about Smith. Smith's rivalry with the France family led to increasing tensions between their respective companies, Speedway Motorsports and

550-554: A 0.75-mile tri-oval asphalt short track in Millington, Tennessee , but closed the track in October 2009 to competition. It was later sold to Palm Beach International Raceway after sitting unused for over a year. Dover also owned Gateway International Raceway , a 1.25-mile egg-shaped asphalt oval track in Madison, Illinois , which was sold in 2011. After attempts to sell Nashville Superspeedway,

660-536: A 17-year-old in Midland, North Carolina , in the middle of a cornfield he nicknamed the "Dust Bowl". In 1949, Smith took over the National Stock Car Racing Association (NSCRA), a league that had formed a year earlier in 1948 and was one of several fledgling stock-car sanctioning bodies that were direct competitors to NASCAR , which had been founded in the same year. Early in the year, Smith announced

770-409: A Peter Pan suit. Moreover, he frequently stayed out partying until the early hours, usually with fellow driver and friend Curtis Turner . This behavior earned him the nickname the "Clown Prince of Racing". In 1956 at Raleigh , while racing in the convertible series, Weatherly's engine blew. With the help of Ralph Liguori pushing from behind, he displayed showmanship to the fullest extent by crossing

880-461: A chain of car dealerships, becoming CEO of both SMI and Sonic Automotive. Smith is widely regarded as one of the most influential businessmen in auto racing and a polarizing figure in the industry. Throughout his time as a businessman, he was known as an extravagant spender and someone who cared about details. He used his wealth and power to turn racetracks owned by Speedway Motorsports into world-class facilities and to turn Sonic Automotive into one of

990-605: A first for a sports facility. In 1990, Smith began to acquire additional speedway properties beginning with Atlanta Motor Speedway . As he did with Charlotte, Smith began expanding seating and facilities at Atlanta. In 1992, lights were added to CMS, making it one of the first speedways to offer night racing, and the company developed the Legends car racing circuit, now called U.S. Legend Cars International. Smith incorporated Speedway Motorsports in December 1994, and on February 24, 1995 took

1100-541: A flight he had taken in 1979. Smith realized during the turbulence that he was "really working for my employees", which he no longer wanted to do. He later stated that he did not want to be tied down to a strict schedule or to be "surrounded by bureaucracy ". In the mid-1970s, with the increased success and profits of his car dealerships, Smith increased his stake in the Charlotte Motor Speedway from about 40,000 in 1973 to almost 500,000 shares out of 1,884,723 total shares. He initially stated that he had no intention of owning

1210-740: A history of purchasing tracks to obtain NASCAR race dates. The company's purchases and closures of the tracks in order to obtain a second NASCAR date for Texas Motor Speedway led to the Ferko lawsuit . In 1996, the company purchased half interest in North Wilkesboro Speedway in North Wilkesboro, North Carolina along with Bob Bahre of New Hampshire International Speedway (now New Hampshire Motor Speedway ). SMI moved one of North Wilkesboro Speedway 's dates to Texas Motor Speedway and Bob Bahre moved

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1320-474: A hosiery mill. He bought his first race car at 17 for $ 700 ($ 12,116 when adjusted for inflation). He claimed that on one occasion during his brief racing career, he managed to beat Buck Baker and Joe Weatherly , both of whom are considered early NASCAR pioneers. However, Smith's mother opposed the idea of his racing, praying that Smith would stop. Smith, stating that he could not "fight [his] mom and God ", ceased racing. Smith began promoting stock-car events as

1430-631: A last-ditch effort to save the track, Smith and Turner cut a deal with the Teamsters Union (despite their mob connections) to form a union in NASCAR in exchange for the money they needed. Due to NASCAR founder Big Bill France 's hard-and-fast stance against the union - famously stating "No Teamsters member will ever compete in a NASCAR race, and I'll use a pistol to enforce it" - every driver except for Turner and Tim Flock backed down; both were subsequently banned from NASCAR for life, though Turner would be reinstated in 1965. Out of both money and options,

1540-477: A letter in The Charlotte Observer , stating that Smith had agreed to the merger and that the company did not feel that it was appropriate to hand over control of the company to Smith. The letter also stated that the lawsuit was to ensure Smith complied with the merger. Three days later, Smith sold 9.08% of the company's stock to Fort Worth real estate developer Herman Smith. One of the four S&Ls that

1650-542: A lot of animosity from NASCAR". Former Texas Motor Speedway president Eddie Gossage stated that Smith was "the greatest boss ever", stating that he had managed to turn several racetracks across the United States into world-class facilities comparable to Charlotte Motor Speedway, the first track Smith owned. Chris Powell, current president of the Las Vegas Motor Speedway , praised Smith's work ethic, calling him

1760-451: A month in child support along with paying up to $ 300,000 (adjusted for inflation$ , 772,876) for a new home for Bonnie, and up to $ 50,000 to furnish the home. In 1990, a trial was ordered to determine the value of the marital property of the Smiths under the orders of Mecklenburg County District Judge L. Stanley Brown. The case would also determine how the marital property would be divided between

1870-646: A period of détente between the two families, as in past years, Smith had not been elected into the Hall of Fame despite leading polls. Speedway Motorsports After trading for 25 years on the New York Stock Exchange , where it was known as Speedway Motorsports, Inc. ( SMI ), the company was taken private in September 2019, and today is a wholly owned subsidiary of Sonic Financial Corporation, itself owned by members of Bruton Smith's family. The "SMI" initialism

1980-453: A poor track surface. Internal problems, including a lack of funds and not enough collateral supplied by both Smith and Turner, led to many creditors not being paid. Smith later called it "a miracle that the place got built", later admitting that he had lost over $ 150,000 constructing the track. In 1961, grading contractor and creditor Owen Flowe forced the speedway into bankruptcy court, as he was owed $ 90,000 (adjusted for inflation$ , 926,929). In

2090-626: A private jet from Ugandan dictator Idi Amin , who was facing severe financial and political turmoil. In June 1979, Smith founded Sonic Aviation, a charter jet service company. In September 1980, Smith and his previously owned companies acquired 9.99% of North Carolina Federal Savings and Loan Association, making him the largest shareholder of the company. In March 1982, he sold all of his stock in Republic Bank and Trust. In June of that same year, Smith sold all of his stock in PCA International to

2200-523: A reimbursement of $ 10.4 million for losses that Bill Smith alleged the company caused. While Bruton Smith had not been apprised of the lawsuit, he stated that he was willing to testify in its support. A decision on the July 26 lawsuit from the Federal Home Loan Bank Board was expected in early September. However, the decision was stalled for months. On December 21, Smith announced an agreement with

2310-576: A result, the Resolution Trust Corporation seized North Carolina Federal on March 2, 1990, effectively wiping out the company and replacing it with the North Carolina Savings and Loans Association. Resolution Trust bailed out the company for $ 11 million. As a result of the seizure, Smith lost around $ 4 million, which he said he could absorb. On August 31, 2007, The Observer reported that Smith had confirmed his interest in building

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2420-583: A salesman in 1966, he briefly moved to Colorado to run another Ford dealership owned by another Charlotte businessman, Jeff Davis. In 1968, Ford sold Smith a dealership in Rockford, Illinois . Smith was known as an extravagant spender and wealthy dealer during his time in Rockford; his business became highly successful, and he later became president of the Rockford New Car Dealers Association. With

2530-459: A second NASCAR Cup Series race at Texas Motor Speedway led to longstanding rumors that Smith would split off from NASCAR to form his own racing series. By 2016, however, the NASCAR Hall of Fame had elected Smith and his partner in creating Charlotte Motor Speedway, Curtis Turner , with then-CEO of NASCAR Brian France stating that he liked Smith "very much." The election was seen as a move toward

2640-521: A suit and tie. Smith was also known to get into disagreements and, on occasion, fights with drivers over issues. According to Wheeler, Smith knew "he couldn't back down, because if [he] ever did, [he'd] might as well give them the keys to the place". By 1955, he had managed to earn $ 128,050 (adjusted for inflation$ , 1,456,430) in one year from promoting races throughout the Carolinas. By the late 1950s, stock-car racing's popularity had increased dramatically in

2750-453: A total $ 215 million purchase. That same year, SMI sold the naming rights of its flagship Charlotte Motor Speedway to Lowe's , a $ 35 million deal that would last until 2009. Until 1999, Speedway Motorsports was the top track owner in the motorsports industry. That year, International Speedway Corporation, then the second largest track owner, acquired Penske Motorsports , then the third largest track owner. The $ 623 million deal propelled ISC to

2860-504: A trucking company, and for a while decided that he wanted to own a train and a trucking company. Smith watched his first auto-racing event at the age of eight at the Charlotte Speedway . In 1946, Smith began selling used cars from his front yard, operating the business for about five years, according to The Charlotte News . After graduating from Oakboro High School (now West Stanly High School) in 1944, he gained his first job in

2970-629: Is still sometimes used colloquially. Speedway Motorsports didn't officially incorporate until 1994. Bruton Smith began building SMI in the 1950s when he worked as a race promoter and eventually built Charlotte Motor Speedway in 1959. Smith left the racing business in the early 1960s to pursue other business ventures. He became very successful and by 1975 had owned majority shares in CMS and took over as CEO. A year later he appointed H.A. "Humpy" Wheeler as general manager. Smith began to expand CMS, adding additional grandstands and facilities including condominiums,

3080-581: The American Southeast . With newer, more modern facilities being built, such as Darlington Raceway , Smith partnered with Charlotte businessman John William Propst Jr. to plan construction of a $ 2 million racetrack. At the same time, Virginia stock-car racing driver and successful timber businessman Curtis Turner had begun collaborating with track officials across the Carolinas to build a speedway in northern Mecklenburg County . However, in 1958, Smith's deal with Propst fell through when Propst backed out of

3190-524: The International Speedway Corporation (ISC). Before NASCAR's acquisition of ISC, the two companies competed for race weekends. Stockholders of both companies sued each other, culminating in the Ferko lawsuit , which resulted in numerous schedule changes that have had a lasting effect on NASCAR's legacy and popularity. Before the settlement of the Ferko lawsuit was announced, Smith's desire for

3300-517: The Luxembourg -based company Minit International S.A. In the summer of 1982, he accepted a position on the board of directors at North Carolina Federal Savings and Loan Association; at that time, he owned more than 10% of the company's stock. The next year, on July 27, Smith stated his intent to file claims against every director at the company; the company had filed a lawsuit the day before, accusing Smith and his companies of illegally accumulating 54% of

3410-613: The NASCAR Modified National crown, and he again won 49 of 83 car races that he entered. Weatherly won 52 more races in 1953 and won the Modified National crown again. Weatherly had a partial interest in what would later be called Richmond International Raceway from 1955 to 1956. In 1956 he moved into the NASCAR Grand National series. He drove a factory-sponsored Ford car for Pete DePaolo Engineering. For

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3520-552: The North Carolina Supreme Court and the North Carolina Court of Appeals . In fall 1994, Bruton agreed to pay a settlement of $ 19.4 million, which included a provision to pay Bonnie's attorney's fees of around $ 2 million. As part of the settlement, Bruton agreed to pay about $ 445,000 to Bonnie's law firm, Robinson Bradshaw & Henson. As a response, Robinson Bradshaw & Henson sued Bruton for not fully paying

3630-518: The PTL Satellite Network , an evangelical Christian television network that was based in the Carolinas. Smith created Speedway Children's Charities in 1982 after one of his children, Bruton Smith Jr., died at seven months old in 1980. As of June 2022, the charity had donated more than $ 61 million to child-related causes. Smith had been placed into the Forbes 400 list starting in 2005, listed as

3740-473: The 1950s, he sold cars and promoted local short-track races throughout the Carolinas, including races in Concord, Shelby , and Piedmont . In a 1982 interview with The Charlotte Observer , the retired president of the Charlotte Motor Speedway , Humpy Wheeler , stated that he believed Smith had managed to turn stock-car racing into a more professional environment, forcing drivers to take publicity pictures wearing

3850-489: The 207th richest American with a net worth of approximately $ 1.5 billion (adjusted for inflation$ , 2,340,092,009). He fell off the list in 2009, with his last estimated net worth being $ 1.2 billion in 2008. In June 2015, Smith was diagnosed with non-Hodgkin's lymphoma . In the summer of that year, he received surgery to treat the disease; the surgery was successful. Smith died on June 22, 2022, in Charlotte, North Carolina , at

3960-716: The Americas in Austin, Texas, would host the national series beginning in 2021, SMI assumed management responsibilities for the NASCAR at COTA race weekend. In addition to speedway properties, SMI also owns the Performance Racing Network , a radio network that broadcasts all NASCAR races at SMI owned tracks. SMI also equally owns Motorsports Authentics, a joint venture formed with International Speedway Corporation, to produce, market and sell licensed motorsports merchandise. SMI has

4070-539: The Cabarrus County Superior Court. Smith made attempts to resurrect the lawsuit in 2013, claiming that the city of Concord had backed out of the incentive package. The lawsuit was again dismissed, with the North Carolina Court of Appeals stating that Smith and the city of Concord did not have a formal contract. After taking the case to the North Carolina Supreme Court , Smith lost the case on December 19, ending over seven years of conflict between Smith and

4180-585: The Charlotte Motor Speedway. In 2019, Smith took Speedway Motorsports private and took the company off the NYSE; the Sonic Financial Corporation, another company Smith owned, acquired all outstanding shares of SMI. According to Hendrick Motorsports ' founder and owner Rick Hendrick , Smith was still active as a businessman up until his death. Smith, according to Hendrick, had tried to advocate

4290-685: The United States. The company was based in Dover, Delaware , the home of its flagship track Dover International Speedway , a 1-mile (1.6 km) concrete oval with a seating capacity of 95,500 that opened in 1969. The company formerly owned the Dover Downs harness racing track adjacent to the Dover speedway. Dover Motorsports also operated Nashville Superspeedway , a 1.333-mile concrete oval track in Lebanon, Tennessee . Dover Motorsports owned Memphis Motorsports Park ,

4400-646: The acquisition, essentially giving full control of the company to Smith. In 1985, Smith managed to buy all remaining stock in the Charlotte Motor Speedway, making Smith the sole owner of the track. Smith began buying more racetracks in the 1990s, including the Atlanta International Raceway in 1990 for $ 19.8 million, saying that he would expand seating and improve other facilities. After the purchase, he continued to make improvements to Charlotte Motor Speedway, adding lights in April 1992; 38,000 spectators attended

4510-656: The age of 95 due to natural causes. A public funeral service was held on June 30 at the Central Church of God in Charlotte, with a private burial service following the funeral service. Smith was considered to be one of the most influential businessmen in both the auto racing and automotive sales industries by industry leaders and the media. Humpy Wheeler , the former president of Charlotte Motor Speedway , described Smith as "a force to be reckoned with   ... when he wanted something, he got it, just from pure perseverance, despite

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4620-400: The age of nine had decided he would leave the farm. When he was 11, Smith began practicing with a home-made punching bag, and dreamed of becoming the middleweight champion of the world. Smith practiced boxing for five years before quitting. He also recalled that he had numerous "crazy ideas" as a child: he saw a movie in which a tycoon owned a train and saw another featuring James Cagney owning

4730-491: The bank board. In January 1984, the Federal Home Loan Bank Board bowed out of the dispute, issuing orders for Smith to cease and desist violations of several federal securities acts and regulations. As a result, both sides nominated opposing slates for the seven-person board of directors. On January 10, another S&L that was to be acquired by North Carolina Federal, North Wilkesboro Federal, sued both Smith and

4840-495: The basis that she feared the track would undergo the same fate as of a neighboring track, North Wilkesboro Speedway , which was left abandoned and desolate after both Smith and businessman Bob Bahre bought the track in 1995. The track was eventually bought by Penske Motorsports. In response, Smith, along with 15 other shareholders, filed a lawsuit against Penske in the North Carolina Supreme Court , asking Penske to pay him $ 50 per share for his stock, or $ 17.7 million total. The lawsuit

4950-417: The biggest car dealership businesses in the United States. Businessmen who worked under Smith, including Humpy Wheeler and Eddie Gossage , viewed Smith highly for his actions. He was embroiled in numerous legal battles and controversies, including his divorce with his only wife and his reaction to opposition of construction of a drag strip at the Charlotte Motor Speedway . Smith is also regarded as one of

5060-556: The board of directors, replacing Richard Howard , who became the president of the speedway. In February 1975, Howard was threatening to resign from the board of directors, with both Howard and Smith both accusing each other of double-crossing the other, and Smith stating that he believed Howard had too much control over the speedway and had been responsible for financial irregularities. By July, he bought around 80,000 shares from Howard's family and relatives. Three months later, Smith had managed to buy nearly 800,000 shares, planning to become

5170-441: The board's top two directors, former chairman Clark Goodwin and president Kemp Causey, resigned, with the company electing Graham Harwood as president. In early May, the acquisition by Roland International was abandoned, essentially giving full control of the company to Smith. Smith continued to be the company's majority shareholder, with Harwood as president, presiding over a quick rebound of annual losses by 1986. In that same year,

5280-461: The car dealership business. After the success of his car dealership business, Smith bought back an interest in the speedway, eventually becoming its general manager in 1975. After a period of investing in businesses outside the auto-racing industry in the 1980s, Smith bought numerous tracks in the 1990s and 2000s, using the funds he had made after taking SMI public on the New York Stock Exchange in 1995. Two years later, he incorporated Sonic Automotive,

5390-411: The city having experienced numerous major industries either being outsourced or shut down, citizens felt Smith had used the tenuous economic situation of Concord to gain the $ 80 million incentive package and essentially crush the citizens' concerns. The Observer editorial board wrote, "We predicted a couple of months ago that the Concord residents would find their victory against Mr. Smith short-lived. It

5500-409: The city of Concord or he would shut down the speedway and either demolish the speedway or relegate the speedway to a testing facility, taking hundreds of millions of dollars away from the Concord economy. On October 9, the Concord City Council reversed its stance on the dragstrip with a 5–1 vote, with only councilman Randy Grimes retaining his original vote. In response, Smith called Grimes an "enemy of

5610-413: The city of Concord said that the payment would be made within 40 years. The lawsuit was dropped on June 1, 2010, without prejudice , in hopes that Smith and the city of Concord could settle the case out of court. On May 27, 2011, Smith refiled the lawsuit. The lawsuit was partly settled on June 29, with the city of Concord agreeing to pay $ 2.8 million for roadwork. In March 2012, the lawsuit was dismissed by

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5720-549: The city of Concord. Smith married Bonnie Jean Harris on June 6, 1972, in North Las Vegas, Nevada . Smith had met Harris in 1969 while selling her a Ford Thunderbird in Illinois . Bruton and Bonnie had five children together: Anna Lisa, Bruton Jr., David, Marcus , and Scott. Four were still living when their father died; Bruton Smith Jr. died when he was seven months old in a crib accident in 1980. After Bruton Smith Jr.'s death,

5830-521: The combined total permanent seating capacity was approximately 885,000. SMI owned tracks host 13 of the 36 NASCAR Cup Series races, including four races in the NASCAR playoffs , plus the NASCAR All-Star Race . In December 2018, Nashville Fairgrounds Speedway operator Tony Formosa Jr. reached an agreement with Speedway Motorsports and its main Tennessee track Bristol Motor Speedway to co-operate

5940-416: The company for $ 13.6 million, claiming that North Wilkesboro Federal was the victim of breach of contract. Nine days later, Florida-based real estate company Roland International announced its intention to buy out North Carolina Federal, expecting a deal within three weeks. In early March, a compromise slate of seven directors was proposed to be elected on March 30. On the day of the board of directors election,

6050-477: The company public at the New York Stock Exchange, hoping to raise $ 104 million (adjusted for inflation$ , 197,393,035). At the time, Sonic Automotive had 20 dealerships, including the two that Smith had kept during his early days as a car dealership owner. The decision to go public was seen as "puzzling" by industry experts, as industry trends had shown a downward trend for public car dealership companies at

6160-550: The company public by offering shares of stock, debuting at $ 18 per share. In 1996, SMI began to quickly expand, acquiring two additional facilities; Bristol Motor Speedway and Sonoma Raceway . A year later, the company finished construction of the $ 250 million, 150,000 seat Texas Motor Speedway . Between 1993 and 1998, SMI had increased its total seating capacity from 176,000 to 551,000. In 1999 SMI outbid rival International Speedway Corporation (ISC) to purchase Las Vegas Motor Speedway . Smith had outbid ISC by $ 15 million to make

6270-592: The company returned to compliance with federal capital rules for the first time since 1982. In 1985, North Carolina Federal financed Piper Glen, a golf-oriented community, for $ 17 million. After four years, Piper Glen did not earn a return, leading to the stock price of the company plummeting from over $ 10 to "about $ 2" within the span of a week, making the company lose $ 1.7 million annually. The failure of Piper Glen, along with numerous other problems with real estate ventures and bad loans to apartment developers, caused North Carolina Federal to lose $ 29.4 million in 15 months. As

6380-662: The company's board of directors, later clarified the statement made by Scott, stating that "he was probably forecasting 20 years down the road, not the next year or two." Smith continued buying speedways throughout the 2000s, including both the New Hampshire International Speedway and the Kentucky Speedway in 2008. He also acquired full control of the North Wilkesboro Speedway from Bob Bahre in 2007. In an attempt to coerce NASCAR into building

6490-487: The company's stock. After a nine-month dispute over control of the company, Smith managed to take control in the wake of the resignations of two top officials, chairman Clark Goodwin and president Kemp Causey; this took place after a Florida-based real estate development company, Roland International Corporation, proposed to acquire the savings and loan. As part of the proposed acquisition, the lawsuits were dropped. However, in early May, Roland International Corporation abandoned

6600-487: The company, calling the lawsuit "ridiculous". After a company meeting on August 1 that approved a proposed merger with four smaller S&Ls , Smith's close associate Humpy Wheeler called the top management of the company "absolute liars". Smith, who opposed the merger, stopped further negotiations with the company's management. The merger voting results were later invalidated, with a new vote scheduled to take place on August 19. The company's board of directors later published

6710-491: The creation of a new division called the "Strictly Stock" division, which utilized newer models of stock cars instead of older, modified cars. As a response, NASCAR president Bill France Sr. created his own "Strictly Stock" division, holding its first Strictly Stock event on the same day that the NSCRA was planning to hold their Strictly Stock race, on June 19, 1949. This event is considered by some NASCAR reporters and media members as

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6820-425: The expense of SMI-owned Atlanta Motor Speedway , which dropped from two races to one on the 2011 Sprint Cup schedule. It was announced in September 2020 that Kentucky Speedway would not return for the 2021 NASCAR Cup Series schedule, and its date would be given back to Atlanta Motor Speedway. Dover Motorsports, Inc. (formerly Dover Downs Entertainment ) was a company that owned several auto racing circuits in

6930-530: The facility and make the necessary upgrades for the track to host NASCAR Xfinity Series and NASCAR Camping World Truck Series races again and continue to host weekly racing events. Efforts were renewed in late 2020 as SMI and Bristol launched negotiations with the City of Nashville with the goal of hosting NASCAR races as early as 2022. The track ultimately did not hold races in 2022, although talks between both parties continued. When NASCAR announced that Circuit of

7040-455: The fact that Turner had struggled to sell the 300,000 shares needed for the racetrack, Smith pledged to sell 100,000 of the shares by himself and become the vice president of the speedway. Construction eventually started on the speedway in the summer of 1959 and was eventually completed in mid-June 1960, in time for the 1960 World 600 on June 19. The track was plagued with numerous issues during its first race, including incomplete facilities and

7150-606: The fall race away from the first weekend in November, which is also the opening weekend of deer hunting season in Texas). In 2018, the fall race weekend was moved to Las Vegas. On May 22, 2008, SMI announced it had purchased Kentucky Speedway from Kentucky Speedway, LLC. The track had been trying to secure a NASCAR Sprint Cup race for several years. SMI was finally victorious in their pursuit, with Kentucky Speedway receiving its inaugural Sprint Cup race on July 9, 2011. It appears this came at

7260-451: The fee, with Bruton proceeding to countersue, stating that Bonnie's lawyer, Martin Brackett, had an extramarital affair with Bonnie. Bruton lost the case, with Bruton being ordered to pay over $ 1.5 million in attorney's fees, a fee that he would not pay in full until 2001. Smith was an evangelical Christian , reportedly having found religion late in life. Smith was on the board of directors of

7370-517: The finish line while standing in a "chariot of fire". He won three American Motorcycle Association (AMA) nationals between 1946 and 1950, including the prestigious Laconia Classic 100 Mile road race in 1948. In 1998 he was inducted into the AMA Motorcycle Hall of Fame . Weatherly began racing cars in 1950. "Little Joe" won the first modified event that he entered. He won 49 of the 83 car races that he entered that season. In 1952 he won

7480-551: The first business quarter in 1995 at a price of $ 18 per share. The stock price of SMI saw immediate growth, almost tripling in price from 1995 to 1999, approximately matching the performance of the US stock market during that period. Using stock profits from the company, he began construction of a new track in northern Fort Worth, Texas , promoting the Vice President of Personal Relations at Charlotte Motor Speedway, Eddie Gossage , to head

7590-479: The first night of practice sessions under the new lights. He was later treated as an outpatient for burns on his head during a media event that promoted a "grand opening" for the new lighting system. Smith also created a new division of short-track racing, named Legends Car , after feeling that the Charlotte Motor Speedway needed to cut costs for local, entry-level racing. Smith later incorporated Speedway Motorsports, Inc. (SMI) in 1994, offering 4.5 million shares during

7700-416: The full season, so Weatherly frequently "bummed a ride". Weatherly died on January 19, 1964, from head injuries sustained in a racing accident at the fifth race of the 1964 season, at Riverside International Raceway . His head went outside the car and struck a retaining wall, killing him instantly. Weatherly was not wearing a shoulder harness and did not have a window net installed on his vehicle, because he

7810-527: The increasing success of his Rockford dealership, Ford offered Smith an opportunity to open a new dealership in Houston , Texas. By March 1980, after he had expanded his business to ten dealerships, he decided to either sell or close down all but two locations in Houston and Charlotte. According to Smith, the reason he decided to take this action was because of severe thunderstorms and turbulence that he experienced during

7920-415: The key people in a rivalry between Smith's SMI and the NASCAR -owned International Speedway Corporation (ISC), a rivalry that has existed since Smith's start as a race promoter in the late 1940s. The two companies, created by Smith and NASCAR founder Bill France Sr. , respectively, have engaged in a series of tense exchanges and lawsuits that have affected NASCAR's legacy and popularity to this day. Smith

8030-402: The late 1990s and the entirety of the 2000s, the company saw continuous growth, eventually becoming a Fortune 500 company in 2000. In 2002, Smith was rumored to be retiring from the company after an announcement of a successorship plan made by his son Scott. The older Smith told The Charlotte Observer , "I'm not going to retire, period. We have no successorship plan." William Belk, a member of

8140-573: The loan from Bank of America and to secure the loan using his house and a $ 2 million jet. In July of that year, the case was voluntarily dismissed. In June 1983, one year after he was elected to the board of directors of the North Carolina Federal Savings and Loan Association, the company sued Smith, claiming that Smith and his companies had illegally accumulated 54% of the company's stock in an attempted takeover. The next day, Smith stated his intent to file claims against every director at

8250-466: The majority stockholder. Around this same time, rumors of Howard stepping down as president were speculated amongst the media, with Howard feeling that his position was threatened by the hiring of H. A. "Humpy" Wheeler . Tension between the two grew, with Howard being regarded as a "good ol' country boy" who wanted to spend conservatively on the track, a stark contrast to Smith, who was regarded as an affluent, extravagant businessman who had ambitions to grow

8360-481: The marriage deteriorated, with one of their children, Scott, stating that the death "really wiped [Bonnie] out pretty badly, and somewhere in there is when their marriage really began to go south". Bonnie filed for divorce in July 1988 after a June 24 argument in which Bruton was stated to have gone into "a rage", grabbing a fire poker and proceeding to tear down a portrait of her, according to court records. Bonnie also claimed that later that day, Bruton threatened her with

8470-423: The newly announced NASCAR Hall of Fame in Charlotte, he pledged $ 50 million toward a Lynx Rapid Transit Services light-rail line that would have connected the Charlotte Motor Speedway to uptown Charlotte, while also passing near the original Charlotte Speedway . However, the city of Charlotte ultimately found the monorail infeasible due to high costs and the plan being dependent on the monorail's extension towards

8580-433: The next two seasons, Weatherly drove for Holman Moody . In 1959, Weatherly recorded six top-5 finishes and ten top-10s. He narrowly lost the 1959 Hickory 250 to Junior Johnson ; being out lapped twice before the race was concluded. Weatherly won NASCAR's Most Popular Driver Award in 1961. He won two consecutive championships, in 1962 and 1963 , for Bud Moore Engineering . Moore did not have enough resources to run

8690-548: The partnership after suffering a heart attack, leading Smith to call Turner in hopes of his replacing Propst. After a few weeks of initial success, in a meeting at the Barringer Hotel , Turner refused to partner with Smith. Feeling betrayed and predicting that the city of Charlotte could support only one speedway, Smith proceeded to announce his intention to build a new speedway to rival Turner's. Knowing that Turner did not have enough funds to build his own speedway, compounded with

8800-548: The purchase of the North Carolina Motor Speedway (now known as Rockingham Speedway). In early April, Penske and his company, Penske Motorsports, who had owned 4.5% of the speedway at the time, offered to buy the speedway for $ 29.4 million. In response, Smith, who owned about 25% of the speedway, offered $ 48.3 million. By April 16, Smith raised his offer to almost $ 72 million. Carrie DeWitt, the track's majority shareholder who owned about 65%, rejected Smith's offer, on

8910-688: The same year, France and Smith discussed merging their sanctioning bodies and came to a tentative agreement on the issue; however, Smith was drafted into the United States Army to fight in the Korean War in January 1951, becoming a paratrooper . When Smith returned to civilian life two years later, he found that poor leadership in his absence had caused the NSCRA to disband. After his honorable discharge in 1953, Smith returned to his parents' home in Concord, North Carolina , living with his mother. For most of

9020-639: The second date to his facility. On November 2, 2007, SMI purchased NHIS and part of the purchase resulted in SMI gaining full ownership of North Wilkesboro Speedway. In 2004, as a result of the Ferko lawsuit, SMI gained ownership of the North Carolina Speedway in Rockingham, North Carolina . SMI closed North Carolina Speedway and moved the track's final race date to Texas Motor Speedway . On October 2, 2007, SMI sold North Carolina Speedway at auction. The track

9130-441: The session, stating that he wished that the speedway had never been annexed into Concord, and deciding to start preliminary grading on the dragstrip location regardless of the session's decision. The Concord City Council unanimously ruled on October 2 that construction on the drag strip must halt, with the city changing the zoning around the track. The next day, Smith demanded that the speedway and its surrounding land be unannexed from

9240-466: The speedway and paying the stockholders an unfairly low price for the stock after Charlotte Motor Speedway, Inc., merged with Lone Star Ford earlier that year. After a U.S. District judge ruled that any of the 640 former stockholders could join the lawsuit in June 1986, he settled the lawsuit in December, paying $ 1.9 million to the former stockholders. In 1997, Smith entered a bidding war with Roger Penske over

9350-401: The speedway stay in Concord, stating, "We're here forever." Along with the statement, Smith announced scheduled NHRA events. Smith's actions regarding the speedway were widely viewed as negative by citizens of Concord and its county, Cabarrus County . Many within the area felt that Smith had used his wealth and power to massively exploit the city of Concord for tens of millions of dollars. With

9460-495: The speedway" and maintained that he had not made a final decision on whether to move the speedway. In an attempt to convince Smith to let the speedway stay in Concord, both the Concord City Council and the Cabarrus County Board of Commissioners offered a tax break, a street near the speedway to be named after Smith, and an incentive package worth approximately $ 80 million. On November 26, Smith stated his final decision to let

9570-434: The speedway, both Smith and Turner were ousted from the speedway's board of directors. Smith was later assigned to serve as the promotional director. In 1962, Smith was indicted over failing to properly file tax returns in 1955 and 1956. He was found guilty, incurring a $ 4,000 fine and receiving a suspended one-year prison term in 1963. As a result of his being ousted from the board of directors and his prison sentence, he left

9680-415: The speedway. Two years later, his name was submitted as a nomination to once again rejoin the board of directors; the nomination was met with a chorus of "boos and chants". After his failed attempt to rejoin the Charlotte Motor Speedway's board of directors, Smith decided to pursue his other dream of owning a new-car dealership. Initially joining a Ford dealership owned by Charlotte businessman Bill Beck as

9790-517: The sport. When Speedway Motorsports bought the speedway in 2008, according to Duchossios, he offered to sell the lawsuit to Smith. The case was dismissed in 2008. In December 2009, an appeal was rejected. In 2010, Smith sued Las Vegas entertainer Wayne Newton , claiming that Newton was delinquent on a loan he had personally guaranteed, then bought from Bank of America . Along with the loan, Smith sought foreclosure on Casa de Shenandoah , Newton's ranch. According to Smith, Newton had promised to cover

9900-449: The starting point of a rivalry between the Smith family and the France family, a rivalry that has grown since the creation of Speedway Motorsports and the International Speedway Corporation , founded by Bruton Smith and Bill France Sr., respectively. In 1951, Smith took over the lease of the Charlotte Speedway from Buck Baker , Roby Combs, and Ike Kiser to promote races at the speedway. In

10010-519: The time. By the end of the year, Smith had bought new dealerships in Atlanta , Georgia, and Fort Mill and Rock Hill, South Carolina . Smith's stated goal was to create an "auto mall", where numerous car dealerships would offer cars from multiple manufacturers near a flagship site. The decision was seen by members of the industry as a decision that followed recent trends toward consolidation, with big companies buying out individual car dealerships. Throughout

10120-483: The top track owner, and SMI fell to second. Smith then turned his attention towards securing two NASCAR dates at each of his facilities. As of 2011, only four SMI owned tracks hold two NASCAR dates. SMI purchased North Wilkesboro Speedway and New Hampshire Motor Speedway in 2007, and in 2008 purchased Kentucky Speedway . Today SMI owns nine racing facilities, eight of which are used to host major racing series including NASCAR, IndyCar and NHRA. As of December 31, 2009,

10230-498: The track again, stating that he did not know why he had bought so many shares. However, he was keeping his true thoughts away from the public at the time; he had thought that owning the track would become immensely profitable after the announcement that the R. J. Reynolds Tobacco Company would sponsor the NASCAR Grand National Series in 1970. By February 1974, he had managed to buy enough stock to be elected chairman of

10340-433: The track into a world-class facility. On October 5, The Atlanta Constitution reported that the 1975 National 500 was scheduled to be the final race for which Howard would be involved in the speedway, with a final decision expected to come on January 30, 1976, the day of the annual stockholders' meeting. Later that same month, although Howard said that he was considering a consultant job working for Smith, he stated that he

10450-414: The track was placed under Chapter 10 bankruptcy, ceasing all officers' and directors' positions. Robert Nelson Robinson, a Charlotte lawyer who was appointed to run the speedway under bankruptcy, found that the track had amassed over $ 500,000 in debt and was facing a federal investigation into the initial stock sale to fund the track. In that same year, facing threats of foreclosure and subsequent auction of

10560-577: The track. Smith and businessman Bob Bahre bought the North Wilkesboro Speedway in the winter of 1995, with each having half of the speedway's control. Later in the decade, Smith bought the Bristol International Raceway and the Sears Point Raceway in 1996, and the Las Vegas Motor Speedway in 1998. In February 1997, Smith incorporated Sonic Automotive , a car dealership business. In August of that same year, Smith decided to take

10670-527: The two tracks. Joe Weatherly Joseph Herbert Weatherly (May 29, 1922 – January 19, 1964) was an American stock car racing driver. Weatherly was inducted into the Motorsports Hall of Fame of America in 2009 after winning NASCAR 's Grand National Series championships in 1962 and 1963, three AMA Grand National Championships , and two NASCAR Modified championships. Weatherly enjoyed behaving outrageously. He once took practice laps wearing

10780-488: The two. On April 6, 1991, The Charlotte Observer reported that the marital property was worth $ 51.3 million (adjusted for inflation$ , 132,161,733); Bruton was ordered to pay $ 21 million to Bonnie, the largest divorce judgment in North Carolina history. Bruton later appealed that same year to lower the divorce award, after his requests to lower the award were declined by Brown. The case was heard in numerous courts, including

10890-411: The usage of zMax, a micro-lubricant which had sponsorship rights on the Charlotte Motor Speedway dragstrip , on all of Hendrick's cars, despite the fact that Smith was immobile. Smith was involved in numerous business and legal battles since his start as a businessman. Since the construction of Charlotte Motor Speedway , Smith faced financial difficulties and lawsuits filed against him. In 1962, Smith

11000-465: The venue reopened in 2021 and hosted a NASCAR race weekend, replacing one of the race weekends at Dover International Speedway. On November 8, 2021, Speedway Motorsports announced that it had agreed to purchase Dover Motorsports , owner of Dover International Speedway and Nashville Superspeedway at the time, for $ 3.61 per share in cash for an approximate total equity value of $ 131.5 million. The deal closed in December, with SMI gaining full control of

11110-559: The window net seven years later, in 1971. Weatherly's grave marker is a sculpture of Riverside Raceway, with a checkered flag marking the spot of his fatal crash. He was inducted into the Motorcycle Hall of Fame in 1998. He was named one of NASCAR's 50 Greatest Drivers in 1998. He was inducted into the Motorsports Hall of Fame of America in 2009. Weatherly was inducted into the NASCAR Hall of Fame on January 30, 2015. He

11220-452: Was "99% certain" that he would depart. On the day of the annual stockholders' meeting, Howard made his final confirmation that he was stepping down as the president of the speedway, with Humpy Wheeler taking his position, essentially completing a takeover of control on the speedway. Throughout the late 1970s and early 1980s, Smith acquired stock in numerous companies, including PCA International and Republic Bank and Trust. In 1977, Smith bought

11330-547: Was afraid of being trapped in a burning car. Weatherly was the first driver to die during the season after winning the Cup Series championship; since his death, this has occurred just one other time, as 1992 series champion Alan Kulwicki lost his life early in the 1993 season. Unlike Weatherly, who died in a racing accident, Kulwicki was killed in a plane crash. Weatherly's fatal crash, combined with Richard Petty 's crash at Darlington in 1970, eventually led NASCAR to mandate

11440-444: Was an entrepreneur, race promoter, and businessman during the rise of stock car racing that began in the 1950s. Smith was born and raised near Oakboro, North Carolina . In 1959, he and stock car racing driver Curtis Turner partnered to construct the Charlotte Motor Speedway , a 1.5-mile (2.4 km) banked racetrack in Concord, North Carolina . After the initial failure of the speedway, Smith went bankrupt, leading him to work in

11550-453: Was born in Oakboro, North Carolina , on March 3, 1927, to James Lemuel Smith (1875–1958) and Mollie C. Smith (1887–1982). He was the youngest of nine children. The family lived a mile outside Oakboro, on a farming community. Growing up on a farm meant Smith's family had a home and enough to eat, but despite working from "sunup to sundown", they had little money. Smith "never did like that", and by

11660-482: Was heard and decided in April 2000. The court determined the stock to be worth $ 23.47 per share and awarded Smith more than $ 3.6 million, a decision that was viewed positively by Penske. In 2005, Richard Duchossios, one of the former owners of the Kentucky Speedway , sued NASCAR in an antitrust lawsuit, claiming that both NASCAR and the International Speedway Corporation had an unfair monopoly over

11770-438: Was indeed." The dispute was reopened in September 2009, when Smith sued Cabarrus County and the city of Concord for $ 4 million, demanding quicker payment of funds for roadwork. Smith claimed that the $ 4 million was part of the $ 80 million incentive package. In addition, no formal timetable for payment of the incentive package was ever set. Smith claimed that he believed that the payment was to be reimbursed within nine years, while

11880-399: Was indicted for failing to properly file tax returns in 1955 and 1956, later being found guilty in 1964. He later blamed a neighbor he had hired to do his taxes, stating that "I'd paid my tax. I didn't owe the government a damn dime." In December 1985, Smith was sued by 21 former stockholders of the Charlotte Motor Speedway, accusing Smith of both unfairly removing 640 minority stockholders from

11990-410: Was proposed to be acquired by North Carolina Federal, Perpetual Savings and Loan, backed out of being acquired by North Carolina Federal and instead opted to be acquired by Providence, Rhode Island –based Old Stone Corporation in September, a decision that was seen as a surprise by both sides. On September 7, a minority shareholder of the company, Bill Smith, sued the company's board of directors, seeking

12100-468: Was purchased by "Indiana" Andy Hillenburg for $ 4.4 million, and renamed Rockingham Speedway. On November 2, 2007, SMI announced the purchase of New Hampshire International Speedway from Bob Bahre , and renamed the facility New Hampshire Motor Speedway. This has led to speculation that SMI would move one of New Hampshire's dates to Las Vegas Motor Speedway and/or swap the date with the fall race at Texas Motor Speedway (TMS has expressed an interest in moving

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