On Wednesday Speedway Motorsports Inc. (SMI) completed its purchse of Kentucky Speedway after SMI Chairman Bruton Smith made the announcement to buy the 1.5-mile oval on May 22 of this year.

"We are extremely excited about the new opportunities this market is going to bring the company," Smith said. "Since we announced this acquisition in May, we have been overwhelmed with the response of fans expressing their support and desire for a Sprint Cup event at Kentucky Speedway.

"We will continue to work with NASCAR to bring a Sprint Cup race to this fine facility as soon as possible. We are going to do everything we can to bring the great people of Kentucky what they want and deserve."

Pledging to move a Sprint Cup date from one of his other tracks to Kentucky, he has not made an official decision as to which track would lose the race. However, NASCAR will not allow a switch until a federal antitrust lawsuit is settled.

“Congratulations to SMI for its purchase of Kentucky Speedway," said NASCAR in a statement. "NASCAR is looking forward to running successful races in 2009 for the NASCAR Nationwide Series and the NASCAR Camping World Truck Series. NASCAR has a great fanbase in Kentucky and the surrounding area, which is why we always look forward to racing there. However, as we have said consistently, there will be no consideration for a NASCAR Sprint Cup Series date until the pending lawsuit against NASCAR, ISC and SMI is resolved.”