VIR Secures Its Legacy: Full Ownership Unlocks Future Growth
It’s hard to believe it has been 25 years since the rebirth of Virginia International Raceway. For those of us who have spent weekends sweating on the asphalt, watching tires smoke and engines scream through the Climbing Esses, VIR isn’t just a track, it’s a sanctuary of speed.
But for a quarter of a century, there was always a lingering asterisk next to the facility’s success: the land itself didn’t belong to the people pouring their hearts and souls into it. That changed this week. In a move that secures the future of one of America’s most beloved road courses, VIR has officially acquired full ownership of the land it sits on.
The decades-long lease is gone. The limitations are history. The ground beneath the pavement is finally, truly theirs. This is massive news for anyone who loves road racing in North America. For years, the facility operated under a 100-year lease with the Foote family.
While that agreement allowed the track to rise from the ashes and become an internationally recognized destination, leasing land always comes with strings attached. It complicates long-term financing. It puts a ceiling on how aggressively you can plan for the next decade, let alone the next century. Now, those shackles are off.
A Commitment to the Future of VIR
Connie Nyholm, the CEO and Co-owner who has been the driving force behind the track’s resurgence, didn’t hide her emotion when announcing the deal. “I am immensely pleased to tell all of our dedicated fans, renters, teams, sanctioning bodies, tenants, employees, community stakeholders, everyone, that we recently closed on the purchase of all of the land underlying VIR,” she said. “VIR can now live on in perpetuity.”
That word, perpetuity, carries weight. It means stability. It means that the sound of engines echoing off the Southern Virginia hills isn’t going anywhere. The timing feels right. Since 2020, when Mark and Tara Rein came on board as 50/50 partners, the investment in the facility has been relentless.
If you’ve visited in the last few years, you’ve seen it. We aren’t just talking about a fresh coat of paint. We’re talking about real, structural improvements that matter to racers and fans alike. Miles of new guardrail and catch fencing have gone up to improve safety. Pit lane capacity has increased, giving teams the room they need to operate at a high level.
The paddock has been expanded, and fan amenities, from camping areas to viewing spots, have been significantly upgraded. Just this year, 12 new Villas were completed, adding to the on-site lodging that makes a weekend at the track so unique. But according to Nyholm, the more they wanted to invest, the more the lease got in the way.
“The more we planned to invest, the more limiting the land lease became,” she explained. “Now that everything is really ours, we are excited to chart VIR’s future and build relationships that will make our already ambitious goals grow bigger sooner.”
Strategic Growth and Economic Impact
This purchase isn’t just about racing; it’s about the broader ecosystem that has sprung up around the track. The VIR campus is already home to 14 different businesses, and that number is expected to climb. The track has become a massive economic engine for the region, drawing over 400,000 visitors annually from Pennsylvania down to Georgia.
By owning the land, the leadership team can now pursue partnerships and development projects that were previously impossible. They aren’t looking to expand just to get bigger. They are looking for partners who share their values, people who want to be part of the track’s next chapter.
Nyholm teased that the planning is already underway. “Our team spends a lot of time exploring new ideas and planning what’s right for VIR’s next 25 years, whether that’s facilities, activities, and or operations,” she said. Quoting her business partner Mark Rein, she added a sentiment that resonates with anyone who appreciates quality over speed in business: “I’d rather have things right than right now.”
Final Thoughts
For the fans, the message is simple: Come back. Come often. Bring your friends. The evolution of this historic venue is just getting started, and now that they own the dirt, the sky is the limit.
