George Fernald Jr., who leased Unity Raceway for five years, has agreed to purchase the track from longtime owner Ralph Nason Jr., according to a centralmaine.com report.
Nason has not disclosed the purchase price of the track but said in the report that Fernald will be in control of the facility on Jan. 1, 2017.
Fernald of Benton leased the track from 2008-12 until closing it in August 2012 because of financial problems.
Fernald said he had left because he lost more than $40,000 even though the Nason family did what they could to help him succeed, according to a previously published report.
“It cost me $25,000 a year to lease it, and I had to come up with $10,000 up front for the first year,” Fernald had said. “But after that, it became a weekly deal. I’d give them around $1,500 a week, and then they dropped it to $1,000.
“They wanted me to get my money back but, in the end, it didn’t happen,” he added.
Nason has owned Unity Raceway, which has a one-third mile oval, for more than 35 years.