Major Developments at Canadian Tire Motorsport Park and VIRginia International Raceway
Bowmanville, Ontario & Alton, Virginia – Significant changes are underway at two prominent North American racetracks as Canadian Tire Motorsport Park (CTMP) and VIRginia International Raceway (VIR) announce pivotal ownership transitions.
Canadian Tire Motorsport Park
CTMP, historically known as Mosport, has been acquired by a new ownership group led by Peter Thomson, Co-chairman of Woodbridge Group and a former racing driver. He is joined by Chris Pfaff of Pfaff Automotive Partners and telecommunications entrepreneur Alek Krstajic. The group purchased the circuit from Canadian Motorsports Ventures Ltd., which had held ownership since June 2011. Notably, Myles Brandt, the current President and General Manager, will continue to lead the facility’s operations.
In a statement, the new owners emphasized their commitment to maintaining CMTP’s rich heritage and executing all scheduled activities without interruption. Pfaff highlighted their goal: “We’re committed to respecting everything that makes CTMP special today while building the foundation for an elevated experience in the years ahead.” The ownership group plans to unveil long-term development strategies at the Canadian International Auto Show in Toronto from February 13-22.
VIRginia International Raceway
Concurrently, VIR has secured full ownership of its land, breaking free from a 100-year lease with the Foote family that previously constrained its ability to plan long-term. CEO Connie Nyholm expressed enthusiasm, stating, “VIR can now live on in perpetuity.” This acquisition opens new avenues for growth and strategic partnerships in the motorsport arena.
Under Nyholm’s leadership and in collaboration with Mark and Tara Rein, VIR has invested significantly in infrastructure improvements, including enhanced track safety and fan facilities. Nyholm noted, “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.”
These developments mark a promising new chapter for both circuits as they aim to enhance their roles within the motorsports community while preserving their storied legacies.
