He Built the NASCAR track there and did it with tax deferred Bonds. they come due this year, thats why its closing. No way to make enough money there to pay just the taxes.
Pook rebuilt the whole complex in 1997, it had a drag strip that was known as the swamp and it was a terrible place to race and watch a race.
Pook bought the facility with the intention of building a facility for CART/Indy Cars. This was a the begining of the CART/IRL fued. The oval is were the old drag strip was and a new strip was built to the west of the old track/oval.
Pook then sold the four facilities he owned (Long Beach GP, St. Petersburg GP, Gateway, and Memphis) to Dover Entertainment in 1999. Dover then started to cut cost to pay for the mortgage of all four events. Instead of trying to fix issues at Gateway it was all about cutting cost. This was the last of the four that Dover ran as the other three was either sold or closed.
(Nashville was built by Dover and not under the Pook umbrella)
It was stated on more than one accasion that the drag strip made them money, even the NHRA event made Dover Ent. some money, and the oval lost more than the drag strip made. because Dover is a NASCAR leaning organization is was all about the oval. They could not commit to any kind of drag racing program NHRA pulled the plug on a national event.
I live in St. Louis and I thank Mr. Pook every time I go to the track, I got to attend 15 NHRA races, 7 Indy Car races, and 30 NASCAR Busch/Truck races, along with ADRL, Division,Tuner and USAC events all 20 minutes from my house. As far as Dover is concerned I have already told friends of mine I will throw the party when they lose one or both of their Sprint Cup races and actually have to be a promoter.
Terry