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Speedway Motorsports may go private

The Smith family and the corporation they're working with already control about 70 percent of the company.

CHARLOTTE, N.C. — The group that owns Charlotte Motor Speedway has made a proposal to acquire all the shares of the company and make it private, according to a new securities filing.

Marcus Smith, president of Charlotte Motor Speedway is also CEO of the bigger company that owns the speedway, known as Speedway MotorSports Inc. 

SMI is looking to buy all the outstanding shares of the company to become privately owned.

The Smith family and the corporation they're working with already control about 70 percent of the company.

It's a move Smith thinks could help counter some of the challenges NASCAR has faced in recent years.

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