VIRginia International Raceway (VIR), the Alton, Virginia race track, has completed the acquisition of the land the track operates on.

The acquisition ends a decades-long lease and opens new doors for growth and development, track management said.

Since reopening 25 years ago, VIR has operated under a 100-year land lease with the Foote family. According to the ownership group, the lease often place limitations on large-scale and long-term planning, expansion and financing.

The land acquisition not only secures VIR's long-term future but also unlocks potential for strategic development and collaboration across the motorsports world, track management said. Fourteen businesses have already located on VIR's campus, with more on the way. As a major tourism and event destination, VIR contributes significantly to the regional economic impact drawing over 400,000 visitors each year primarily from the broader mid-Atlantic area Pennsylvania through Georgia.

For more information, visit virnow.com.