DIRT MotorSports Saddened By Fred Brownfield's Passing
Norman, OK — June 17, 2006 — By Chris Dolack, VP Public Relations - DIRT MotorSports and its staff are extremely saddened and stunned by the passing of Fred Brownfield. Our hearts go out to his wife, Debbie, and his entire family.
A tremendous sprint car racer, Fred became one the most hard-working and respected promoters in the business. Over the years he turned many sprint car races into highly entertaining events for fans and drivers alike at tracks across the country.
“Today is truly a sad day in motor sports because Fred Brownfield was one of the racing family’s best promoters, most ardent supporters and dearest friends,” said DIRT MotorSports President and CEO Tom Deery. “I have personally known Fred and Debbie for over 15 years, Fred Brownfield was a man of character and values. He will be missed by all of us.”
Kruger Resigns – Deery Named CEO – As DIRT Strengthens Finances
Norman, OK — May 19, 2006 — By Chris Dolack, VP Public Relations - DIRT MotorSports™ announced today the resignation of Paul Kruger and the appointment of Tom Deery to the top spot in the company as acting CEO. Deery also serves as the President of the company, which includes the World of Outlaws Sprint Series, the World of Outlaws Late Model Series and the Advance Auto Parts Modified Super DIRT Series as well as the DIRT NorthEast regional series, the UMP late model and modified series and the MARS late model series.
In addition, the investment group that helped to launch DIRT MotorSports less than three years ago has demonstrated its confidence in the new management team, which also includes Chief Financial Officer Brian Carter, Chief Marketing Officer Rob Butcher and Executive VP of Operations Ben Geisler, by providing the company with the funds necessary to eliminate all company debt (other than mortgages on two of its seven racetracks) and the financial resources necessary to reach the company’s long- and short-term goals.
“We have an incredible company with the most recognized brands in dirt racing,” said Deery, who grew up helping his family operate short tracks before setting off on a long and respected career in motorsports. “This is a world-class racing and sports entertainment company. This transaction will allow us to advance our business plan, ultimately increasing the exposure, awareness and consistency of dirt racing across the country for our fans, promoters, team owners and drivers.”
“Through this series of transactions, the largest in the company’s history, we have been able to eliminate our outstanding debt, largely connected to the purchase of the World of Outlaws, UMP, the Advance Auto Parts Super DIRT Series and our tracks in the northeast,” Carter said. “In short, we are only left with the mortgages on a couple of tracks which are no different than a mortgage on a home, we make payments just like everyone else. We have spent a lot of time over the past several months with our existing and new investors to complete this transaction and are very pleased to have all of the pieces in place. We have a group of investors that each own a piece
of the company, all of which are committed to DIRT and excited to be involved in dirt racing.”
While the spotlight often is on DIRT MotorSports’ national touring series, Deery is committed to supporting and growing the weekly and regional classes to create a strong backbone for the future of dirt track racing.
“The strength of dirt racing depends on the fans and drivers that compete all across the country every Friday and Saturday night,” Deery said. “We will continue to support those involved week in and week out while at the same time making certain the World of Outlaws Sprint Series, the World of Outlaws Late Model Series and the Advance Auto Parts Super DIRT Series remain the premiere traveling series in dirt track racing.
“Keeping our series at such a high level nowadays means bringing a complete event experience, which will ensure that fans are receiving the full value of their ticket. Having our group of investors behind us 100 percent will allow us to go forward with a clean slate and do everything possible to deliver the best event to the fans.”
About DIRT MotorSports™
Based in Norman, OK, DIRT MotorSports™, Inc. is the premier dirt racing and sports entertainment company dedicated to the promotion of competitive dirt track racing. DIRT MotorSports is the largest sanctioning body for sprint car, late model and modified dirt track auto racing in the United States and also owns and operates seven dirt tracks. DIRT MotorSports operates the industry's most prominent national touring series' including the World of Outlaws Sprint Car Series® currently broadcast on the Outdoor Channel® (Nasdaq: OUTD); the World of Outlaws Late Model Series® currently broadcast on SPEED Channel® and the DIRT Big Block
Modified Series™. "World of Outlaws" is a registered trademark of DIRT MotorSports.
For further information on DIRT or this press release contact Brian Carter or Chris Dolack at 1- 877-5RACING (1-877-572-2464), email firstname.lastname@example.org or email@example.com, visit us online at www.dirtmotorsports.com or see the Company’s filings at www.sec.gov.
The World of Outlaws Late Model Series is brought to fans across the country
by several sponsors and partners, including Series sponsor Hoosier Tire;
Promotional sponsors AMB i.t., Choice Hotels International, COESfx, The
University of Northwest Ohio and Snap-on. Contingency sponsors include DART
Machinery, Holley Performance Products Inc., MSD Ignition, Quarter Master,
Ohlins, and Wrisco Industries.
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