VIR Land Ownership Unlocks Strategic Growth Opportunity
VIR Land Ownership Unlocks Strategic Growth Opportunity
As VIR celebrates its 25th year reborn, a step into full ownership of its historic land paves the way for sustainable, collaborative growth.
November 10, 2025 Alton, VA — In a major milestone for road course racing in North America, VIRginia International Raceway (VIR) has officially acquired full ownership of the land it operates on, ending a decades-long lease and opening new doors for growth and development.
CEO and Co-owner of VIR, Connie Nyholm, announced the news with enthusiasm, stating, “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. VIR can now live on in perpetuity.”
Since its rebirth 25 years ago, VIR has operated under a 100-year land lease with the Foote family in Southern Virginia. The lease, while allowing the facility to flourish into an internationally recognized motorsports venue, often placed limitations on large-scale and long-term planning, expansion, and financing. Thanks are extended to the Foote family, who worked with VIR to transfer ownership, and Carter Bank & Trust, a long-time financial partner.
Nyholm went on to explain, “In 2020, Mark and Tara Rein bought in to VIR as my 50/50 partner and, because we were aligned in our priorities for growth, we were able to plan more aggressively with President and COO of VIR Kerrigan Smith and our amazing team. In the past five years, VIR has invested heavily in track improvements, including miles of guardrail and catch fencing, increased capacity on pit lane and in the paddock for teams and new viewing and camping areas for fans, and made modern renovations to all on-site lodging and common areas throughout the facility. Twelve additional Villas were completed this year. The more we planned to invest, the more limiting the land lease became. 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.”
The land acquisition not only secures VIR’s long-term future but also unlocks potential for strategic development and collaboration across the motorsports world. 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.
Rather than expanding in a vacuum, VIR aims to foster partnerships that leverage common values and goals for success, particularly with those who ask not just “what’s next,” but “how can we be part of what’s next?”
Looking ahead, Nyholm teased potential development plans that may now be more feasible thanks to this landmark purchase. “As my business partner, Mark, says, “I’d rather have things right than right now.” 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, and our list is continually growing. As I always say, “Come back, come often, and bring your friends!” so you can experience our evolution first hand.
Nyholm went on to explain, “In 2020, Mark and Tara Rein bought in to VIR as my 50/50 partner and, because we were aligned in our priorities for growth, we were able to plan more aggressively with President and COO of VIR Kerrigan Smith and our amazing team. In the past five years, VIR has invested heavily in track improvements, including miles of guardrail and catch fencing, increased capacity on pit lane and in the paddock for teams and new viewing and camping areas for fans, and made modern renovations to all on-site lodging and common areas throughout the facility. Twelve additional Villas were completed this year. The more we planned to invest, the more limiting the land lease became. 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.”
The land acquisition not only secures VIR’s long-term future but also unlocks potential for strategic development and collaboration across the motorsports world. 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.
Rather than expanding in a vacuum, VIR aims to foster partnerships that leverage common values and goals for success, particularly with those who ask not just “what’s next,” but “how can we be part of what’s next?”
Looking ahead, Nyholm teased potential development plans that may now be more feasible thanks to this landmark purchase. “As my business partner, Mark, says, “I’d rather have things right than right now.” 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, and our list is continually growing. As I always say, “Come back, come often, and bring your friends!” so you can experience our evolution first hand.
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About VIRginia International Raceway
Now 25 years reborn, VIRginia International Raceway is one of America’s premier road courses, offering professional and amateur racing for modern and vintage classes while providing contemporary resort amenities. A prominent test facility for the automotive industry, VIR has the distinction of being named one of the top six courses in North America by Car and Driver Magazine, and southern roots and hospitality make it one of the friendliest. Conveniently located at the Virginia/North Carolina border, VIR is centrally located in the heart of the Mid-Atlantic with 15 million people within 150 miles.
For more information and history, visit www.VIRnow.com, Facebook, or X.”
