2-20-09

Meridian icon for nearly 60 years is changing hands.

A group of four local men and women have acquired the assets and the rights to operate the lease at Meridian Speedway, a city landmark since 1951.

Kenny Hamilton, a longtime racer at Meridian Speedway and the father of Indy 500 racer Davey Hamilton, has been the operator and promoter of the quarter-mile oval since 1989. He and business partner John Wood have decided to sell the facility’s assets and lease arrangement to Don Newman, Al Russell, Adam Nelson and Kelly Nelson.

All four have been in involved in local and regional racing for many years, either as drivers, officials, operators or promoters.

The Meridian Dairy and Stock Show Board — which owns the property in Downtown Meridian — unanimously approved of the transfer Tuesday night, board member Marty Hill said.

“I think it’s going to be business as usual. I don’t see a downside, I see a plus side,’’ Hill said. “Kenny did an excellent job of running the track, but it’s one of those deals — new blood coming in with new ideas.’’

The new lease is being finalized and could be signed by next week, Hill said. It is for the 2009 and 2010 racing seasons, with an option to continue into 2015.

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