Speedway exec: 'We're not going to share our gas'

Published: November 2, 2007, 10:43 pm

By JIM FUQUAY Bruton Smith, whose company operates Texas Motor Speedway, said Friday that he is certain that Speedway Motorsports, not the city of Fort Worth, holds the mineral rights for the land at the huge racetrack and the right to develop the natural gas under the 1,450-acre property.Representatives of TMS and the Fort Worth Sports Authority, created by the city in 1995 to acquire the land for the speedway and build the $100 million facility, have been in talks for more than a year regarding mineral rights, parties on both sides say.The sports authority owns the property and leases it to Speedway Motorsports, which has an option to purchase it.Smith made it clear Friday that he considers the matter settled. We re not going to share our gas with anyone, he said, responding to a question about whether the company expected to participate in developing the property s natural gas reserves. There s no doubt in my mind that the company holds the mineral rights, he said.Smith

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