Rittenberry, president and chief executive officer of the Jupiter,
Florida-based Palm Beach International Raceway, along with independent
investor and managing partner of the Palm Beach track Joe Lubeck, placed
a winning bid of $1.875 million at a live auction. A 10 percent buyer’s
premium brought the overall bid to $2,062,500.
Rittenberry is no stranger to the Memphis track after serving as vice president and general manager before going to Florida.
The
Memphis Motorsports Park has sat vacant for more than a year and
includes a .75-mile asphalt oval, a .25-mile championship drag strip and
a 1.77-mile road course. The park opened in 1987 and is the former site
of more than 150 annual events including NASCAR and NHRA races.