NASCAR Media Tour 2014

Then Speedway Motorsports Inc. chairman Bruton Smith speaks with then North Carolina Governor Pat McCrory at a luncheon during the NASCAR Sprint Media Tour hosted by Charlotte Motor Speedway at the NASCAR Hall of Fame in January, 2014. James Nix/Independent Tribune file photo

A bid by Bruton Smith and his family is on the table to take Speedway Motorsports Inc. private.

Sonic Financial Corporation, owned by Bruton Smith, made a non-binding offer to Speedway Motorsports Tuesday in a letter.

A filing Wednesday with the Securities and Exchange Commission shows the deal would be worth $734 million.

Bruton Smith and the Smith family owns 70 percent of the company already (approximately 29 million shares).

The Charlotte Observer published a detailed story about the proposal today:

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