A group of Alabama investors is making a run at NASCAR.
The group plans to approach NASCAR officials next month with a proposal to build a new NASCAR speedway near Foley in Baldwin County.
The speedway would cost an estimated $350 (M) million and could include a host of year-round non-racing venues.
Rick Edwards is one of 10 businessmen from around the state involved in the venture. He says the group has hired a Raleigh, North Carolina-based consultant with extensive sports and racing connections to advise it during the development process.
The group either owns or has an option to buy five sites on the Foley Beach Express. The sites range in size from 500 acres to 1,000 acres.
The state already holds two Nextel Cup races each year at Talladega Superspeedway.
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