The owner of Lancaster Speedway says he has a verbal agreement in place to sell the Gunnville Road dual stock car/drag racing facility to an undisclosed party.
Gordon Reger said Thursday that the agreement materialized in the last day and the new owner intends for racing to continue. Lancaster has run motorsports competition almost continuously since 1959.
He declined to disclose the sale price or the prospective buyer other than to say the buyer was based locally.
"There is no deal signed yet but their intention is to open it as soon as possible for racing this season," Reger told The News. "As long as things move along I will let the new owner take over the operation of the track prior to the sale closing."
Reger, who has owned the track for most of the last 20 years, put the track up for sale last fall and said if he did not sell by the beginning of this season that the track would be no longer open for racing.
Reger said, in the days ahead, the identity of the buyer will be made public and initial plans for the upcoming season will be revealed by the new owner.
"They made me an offer that I accepted," Reger said. "This deal is something I've been working on for a while and it was finalized within the last 24 hours.
"The identity of the buyer will become known when the buyer and I choose to release the information, which I anticipate would be fairly shortly. What I can tell you is that the buyer will run it as a racetrack."
Reger said he will work with the new owner to move along the selling process as quickly as possible so that the new owner can alert the racing community to the plans.
"I'm happy for the racers at Lancaster that this deal has materialized," Reger said. "Now we just need to move the sale from a verbal agreement to one signed on paper in these next immediate days and then racing will continue."
Story topics: Lancaster Speedway