Gateway Motorsports Park has been sold to a St. Louis real estate executive. The suburban NASCAR track and drag strip in Illinois had been operated by Dover Motorsports, which had shut down the complex in 2010. Curtis Francois last week announced that he has finalized the local purchase of Gateway Motorsports Park. He had operated the park since 2012 under an agreement with Dover.
“This is a great day for local sports fans and for the St. Louis region,” said Francois, a real estate developer, retired race car driver and new owner of Gateway Motorsports Park. “Our region needs significant sporting, entertainment and cultural venues to remain relevant, and Gateway MSP is among the finest in the country.”
Francois said the deal proved to be complex, citing Dover Downs’ efforts to focus on gaming and negotiating with a half a dozen property owners who had leased the property to Dover. Dover Motorsports now has one track in the capital city after an expansion effort fell victim to a bad economy that hit NASCAR races particularly hard.
In 2011, Dover announced it would not hold races at its Nashville track, but will keep the site open for car testing.
“Getting these local property owners to agree on a common approach and sale was certainly challenging, but these are great folks who were committed to seeing this track survive and thrive.”
Gateway is on track to generate nearly 45 full-time jobs and hundreds of part-time jobs, in addition to tax revenue and revenue for surrounding businesses, according to a release.
The new owners says he plans to put in place a five-year, multi-million dollar capital improvement to upgrade the site.
Efforts are underway to schedule outdoor concerts in the 20,000 seat amphitheater-style stands.
The new owner earlier reached an agreement to operate the track, which hosted a major drag racing event.
