Clement family becomes owners of Iowa Speedway

There’s a changing of the guard at Iowa Speedway, but it’s a change that was expected.  At Wednesday’s press conference in the Mediacom Media Center, Iowa Speedway President Jerry Jauron announced and introduced Featherlite Inc. founder and Newton-native Conrad Clement and his family as the new principal owners of Iowa Speedway.

Clement, along with his sons, Tracy and Eric, and his brother, Stan Clement of Newton, purchased U.S. Motorsports Corporation — the holding company that owns Iowa Speedway — effective June 30.

It’s a transition that’s been in the works for quite some time now. The Manatt family — owners of Manatt’s Inc., a heavy construction company based in Brooklyn — have been the primary investors since the track was built. They intended to help launch the speedway and improve Newton’s economic vitality and then transfer controlling interest so they could focus on their core family business.

“This is a transition that was built-in five years ago,” Jauron said on Wednesday. “The Manatt Corporation did wonders to have this facility financed and built. During this past year’s process of Conrad and his group’s interest, the Manatts were very diligent about who they would transition the track to. They wanted to make sure its success would continue to only build. They have displayed the faith in the Clement family, due to their NASCAR and IndyCar ties over the years, that the track’s in good hands.”

Conrad Clement has a 20-year history with the motorsports industry through his involvement with Featherlight, which is based in Cresco. Featherlight produces trailers for cars, horses, cargo, utility and motorcycles, among others. Featherlite branded trailers are sold throughout Canada and the U.S. through a network of more than 200 dealers. It also has dealers in Australia and Europe.

The Clements also were involved with the formation of Iowa Speedway back in 2006. Stan was one of the founders, while Conrad helped secure some of the track’s first races.

“Being from Newton, we’re really excited to be here as the primary owners,” Conrad Clement said on Wednesday. “The fans and the customer will be our primary focus. We want to keep the great fan experiences Jerry and his staff have brought forward and enhanced year after year. We want to keep doing that. “

Jauron and the Clements emphasized that despite the change in ownership, the day-to-day operations at Iowa Speedway will remain the same.

“One thing that needs to be absolutely certain is that it’s business as usual at Iowa Speedway,” Jauron said. “The media, the fans and the sponsors will see no change. To resonate that further, there’s no staff changes.”

Behind the scenes, NASCAR racing legend and Iowa Speedway co-owner Rusty Wallace is still working on bringing a Sprint Cup race to the track.

“The Clement family has expressed their willingness to invest in the track, its infrastructure and its future,” Wallace said in a press statement. “Together, we can establish Iowa Speedway as one of the Midwest’s premier entertainment venues, and achieve our ultimate goal — hosting a NASCAR Sprint Cup race.”

Also in a press statement, Brad Manatt said it has been an honor to be involved with Iowa Speedway’s creation and legacy.

“It was our privilege to help build the track five years ago, and like a proud parent, we’ve enjoyed watching it thrive and grow — and we’ll continue to do so from the stands,” he said. “We wish great success to Iowa Speedway and the Clement family.”

There are two more race weekends on the Iowa Speedway season schedule. July 16 features the NASCAR Camping World Truck Series 200 and Prairie Meadows 200 ARCA Series stock car race, while Aug. 6 features the track’s second Nationwide Series race — the U.S. Cellular 250 Presented by Enlist (TM) Weed Control System.

“Things are very much successful here,” Jauron said. “We’re going to continue the momentum we’ve built. We have two more exciting race weekends to finish out this season with and we intend to sell those out.”