Reports of MIR in Budds Creek SOLD

Wade Mahaffey · 11-13-2014, 07:01 PM

Larry Clayton
JUPITER, FL – November 13, 2014 – IRG Sports + Entertainment™ (IRG) President & CEO, Jason Rittenberry, announced today that the Company has acquired Maryland International RacewaySM (MDIR) in Budds Creek, Maryland. Last month, IRG announced a major financing agreement with TPG Specialty Lending (NYSE:TSLX) that funded a recapitalization of the Company and the acquisition of two additional motorsports venues, including Maryland International Raceway.
MDIR becomes the fifth motorsports and entertainment facility in the IRG portfolio of brands, joining sister tracks Palm Beach International Raceway in Jupiter, Florida; Memphis International Raceway in Millington, Tennessee; Southwestern International Raceway in Tucson, Arizona; and Cordova International Raceway in Cordova, Illinois.

Founded in 1966, MDIR has been owned and operated since 1990 by the Miller family – Royce and Linda, along with their sons Jason and Chris. One of the most respected track operators in the drag racing industry, Royce Miller joins IRG as the Chief Operating Officer, overseeing the track division and leading the team of vice presidents and general managers from each venue. A highly successful track operator and event promoter, Royce will report to IRG President & CEO Jason Rittenberry, and will work closely with Scott Gardner, President of the International Hot Rod Association (IHRA).

“Royce brings 25 years of expertise, talent and knowledge in track operations and promotions to IRG," noted Rittenberry. “This will undoubtedly bring enhancements and refinements in the management of our operations at all the IRG tracks across the country. I’m certain that Royce will prove to be one of the greatest assets to the company to date.”

“I am looking forward to my new role as COO in overseeing and assisting all of the IRG owned tracks. With the wealth of experience and knowledge of the GMs at each track along with my 25 years of experience as a track operator, we will have an exceptional national team capable of great things,” stated Royce Miller. “I know I will learn as much from them as they can learn from me. We will take the best ideas and structures to each IRG raceway and make these tracks among the best run and exciting venues in the country.”

An IHRA member track since 1992, MDIR has hosted numerous IHRA national events including the President’s Cup Nationals, part of the Nitro Jam Drag Racing Series show which is currently airing weekly on MAVTV. The legendary 19th Annual World Cup Finals were held at MDIR last weekend; the 3-day event will continue to be hosted there in the future

Charlie Yannetti · 11-19-2014, 01:07 PM

MIR is a great track, and always goes the extra mile in providing a great testing facility.. I think as long as the Miller family stays involved, it will continue to be a great track..

Hopefully the new owners have a grasp on Drag Racing, and will put up some great shows... BEST OF LUCK!!!

11-13-2014, 07:01 PM	#1
Wade Mahaffey Senior Member Join Date: Apr 2007 Posts: 581 Likes: 0 Liked 17 Times in 7 Posts	Reports of MIR in Budds Creek SOLD Larry Clayton JUPITER, FL – November 13, 2014 – IRG Sports + Entertainment™ (IRG) President & CEO, Jason Rittenberry, announced today that the Company has acquired Maryland International RacewaySM (MDIR) in Budds Creek, Maryland. Last month, IRG announced a major financing agreement with TPG Specialty Lending (NYSE:TSLX) that funded a recapitalization of the Company and the acquisition of two additional motorsports venues, including Maryland International Raceway. MDIR becomes the fifth motorsports and entertainment facility in the IRG portfolio of brands, joining sister tracks Palm Beach International Raceway in Jupiter, Florida; Memphis International Raceway in Millington, Tennessee; Southwestern International Raceway in Tucson, Arizona; and Cordova International Raceway in Cordova, Illinois. Founded in 1966, MDIR has been owned and operated since 1990 by the Miller family – Royce and Linda, along with their sons Jason and Chris. One of the most respected track operators in the drag racing industry, Royce Miller joins IRG as the Chief Operating Officer, overseeing the track division and leading the team of vice presidents and general managers from each venue. A highly successful track operator and event promoter, Royce will report to IRG President & CEO Jason Rittenberry, and will work closely with Scott Gardner, President of the International Hot Rod Association (IHRA). “Royce brings 25 years of expertise, talent and knowledge in track operations and promotions to IRG," noted Rittenberry. “This will undoubtedly bring enhancements and refinements in the management of our operations at all the IRG tracks across the country. I’m certain that Royce will prove to be one of the greatest assets to the company to date.” “I am looking forward to my new role as COO in overseeing and assisting all of the IRG owned tracks. With the wealth of experience and knowledge of the GMs at each track along with my 25 years of experience as a track operator, we will have an exceptional national team capable of great things,” stated Royce Miller. “I know I will learn as much from them as they can learn from me. We will take the best ideas and structures to each IRG raceway and make these tracks among the best run and exciting venues in the country.” An IHRA member track since 1992, MDIR has hosted numerous IHRA national events including the President’s Cup Nationals, part of the Nitro Jam Drag Racing Series show which is currently airing weekly on MAVTV. The legendary 19th Annual World Cup Finals were held at MDIR last weekend; the 3-day event will continue to be hosted there in the future

11-19-2014, 01:07 PM	#2
Charlie Yannetti Senior Member Join Date: Jan 2005 Location: Alpine, NJ Posts: 564 Likes: 184 Liked 185 Times in 81 Posts	Re: Reports of MIR in Budds Creek SOLD MIR is a great track, and always goes the extra mile in providing a great testing facility.. I think as long as the Miller family stays involved, it will continue to be a great track.. Hopefully the new owners have a grasp on Drag Racing, and will put up some great shows... BEST OF LUCK!!!