Kentucky Speedway lawsuit gets resolved

[V8Stockcar]

The litigation that has stood in the way of Kentucky Speedway getting a NASCAR Sprint Cup Series race is over, the track’s one-time chairman said Friday. The news came after a court order was filed in U.S. District Court in Covington in a case related to the federal antitrust lawsuit that has pitted Kentucky Speedway’s former owners against NASCAR and International Speedway Corp. “It’s behind us,” Fort Mitchell developer Jerry Carroll said. “Everything is behind us. The future now has wonderful opportunity at Kentucky Speedway.” There had been a one-day bench trial scheduled for May 7 in U.S. District Court to resolve a dispute between Carroll and one of his founding partners in Kentucky Speedway. The trial was cancelled Friday when lawyers representing both sides informed the court that they settled, according to the court order. The legal action brought against Carroll by four trusts controlled by Dick Duchossois, chairman of The Duchossois Group, challenged whether Carroll had the authority under the ownership group’s operating agreement to control the fate of the antitrust lawsuit. Kentucky Speedway, opened in 2000, is scheduled to host races this season featuring NASCAR’s Nationwide and Camping World Truck series as well as the IZOD IndyCar Series. NASCAR has maintained throughout that it would not consider allowing a Sprint Cup race at Kentucky Speedway until the antitrust lawsuit was resolved and has cited SMI’s involvement as one reason for that stance. SMI has invested millions in infrastructure and cosmetic improvements at Kentucky Speedway. Bruton Smith, the company’s chairman, wants to hold a Sprint Cup race there next year. One option to get a date is to move a Sprint Cup race from one of SMI’s other tracks. The track’s former owners stand to receive a $7.5 million contingency from SMI if a Sprint Cup race is scheduled at the track. Smith was unavailable for comment Friday, a company spokesman said.