Does Rusty Wallace own Iowa Speedway? All you need to know

Former NASCAR Driver Rusty Wallace is one of the first stock car racing drivers in recent history to have helped design a part of a professional racing circuit. In 2004, Wallace's input helped design the 0.875 miles of the Iowa Speedway, which makes up the oval course that has been used by the NASCAR Cup Series, Xfinity Series, as well as the IndyCar Series. The track, located in Newton, Iowa, opened in 2006 and was well-received by the public.

The ownership of the Iowa Speedway has changed hands multiple times. The initial majority owners, Manatt's Inc. (the company that constructed the track), sold their shares in 2011 to the Clement family, owners of Featherlite Incorporated which is a company that manufactures team transporters and coaches.

During this time, Wallace held on to his minority shares, as well as a seat on the board of the track. The 1989 Cup Series Champion was part owner of the track until November 2013, when the track was fully bought out by the France family and NASCAR.

Speaking after the track was sold to the organization, Wallace had said (via Newton Daily News):

“I was excited when I heard the France family wanted to purchase the track. They know how to operate race tracks. NASCAR had never purchased a track before and the France family loved this track, this community and the possibilities held here.”

Rusty Wallace retired from NASCAR in 2005, where he completed his time in the sport after having won fifty-five races, and scored thirty-six poles over his 706 starts in the Cup Series.

Rusty Wallace talks about Iowa Speedway hosting it's first Cup Series Race

Ryan Blaney (12) wins the inaugural Iowa Corn 350- Source: Imagn

The NASCAR Cup series had its first race at the Iowa Speedway earlier this year in June since its opening in 2006. A few reasons why the track hasn't hosted a Cup series race before are because of the changing leadership during the track's initial years, and the lack of amenities that other bigger tracks had.

Speaking to the media after the announcement in October 2023, Rusty Wallace opened up about his feelings about 'the fastest short track on the planet' getting to finally host a race. He said:

“This track was built with the intent of hosting a NASCAR Cup Series race one day, and to finally see it come together is a testament to the tenacity of the great race fans in Iowa.” [via iowaspeedway.com]

The winner of the 2024 Iowa Corn 350 Presented by Ethanol Race was Ryan Blaney who took home the trophy after leading the final 88 laps of the race and beating second-place finisher William Byron by 0.716s. It was Blaney's first win of the season and the eleventh of his cup career. The series will return to Newton in 2025 for a race on August 3rd.

Rusty Wallace is currently the lead analyst for MRN Radio which is considered the 'Voice of NASCAR', where he is heard on 700+ affiliates and Sirius XM radio.