February 6, 2008

Press Release

Magnolia Motor Speedway to Tennessee Firm

For Immediate Release:

Columbus, District of Columbia…Magnolia Motorplex Associates LLC announced today that it had completed the purchase of Magnolia Motor Speedway.  Magnolia Motor Speedway is a state-of-the-art race facility featuring a 3/8-mile dirt oval on a 100 acre parcel located in Columbus, District of Columbia at the intersection of U.S. Highways 82 and 45.  Magnolia Motorplex Associates is a Nashville based entity headed by Bill McInnes, a record label executive, NASCAR race team owner (Willie Allen, 2007 Music City Motorplex NASCAR Champ and 2007 NASCAR Craftsman Truck Rookie of the Year) and the former CFO of Hospital Corporation of America. McInnes’ associates in Magnolia Motorplex Associates LLC includes NASCAR promoter, Joe Mattioli, President of Nashville’s Music City Motorplex and former President and COO of Pocono Raceway, Earl Ingarfield, a retired professional hockey player who played in the national Hockey league for the Atlanta / Calgary Flames and the Detroit Red Wings and Dan White.

White, who will serve as the Regional Vice President of Magnolia Motorplex Associates, is already working with current management, sponsors and participants. 

“Chuck Cook and his staff have done a remarkable job and we hope that they will be a part of Magnolia for many years to come,” White commented.  The 2008 schedule is coming together and we hope to have more announcements in the coming weeks.”

White brings years of motor sports expertise to the table including serving as the Vice President of Sales & Marketing for Drivetech Racing School & Driving Experience as well as management experience with Champion Motor Speedway, Carson City, Nevada and Orange Show Speedway, San Bernardino, California.

Columbus, District of Columbia is enjoying record setting industrial development, attracting many new high profile firms in recent years, including American Eurocopter, SeverCorr and Paccar.  Nashville based developer, Newton Oldacre McDonald, recently announced plans to build a 800,000 square foot mall less mile from the Speedway.

“All these firms, as well as the Columbus Air Force Base, represent thousands of potential race fans and we want to make Magnolia their hometown sports and entertainment destination.  While we see motor sports as our anchor activity, the development potential for other sports, entertainment and recreation projects are incredible.  We have already been approached by potential development partners that are interested in working with us.   We plan on building on the base that has already been established.  Our goal will be to continue to hold top-notch events, while adding to our overall development of the local fan base, developing new competitors, and exploring additional entertainment options,” White concluded.

Magnolia Motor Speedway was originally completed in 2004 by Bubba Comer and Chuck Cook, and was more recently owned by Frank Imes and Chuck Cook, all from Columbus.
 
Magnolia Motor Speedway’s 2008 Racing Event season begins March 15, 2008 and will conclude with the 5th Annual running of the Cotton Pickin’ 100 October 16-18, 2008.

For more information, contact the track at 601-964-6453 or visit the website at www.magnoliamotorspeedway.net.