The Shareholder Forum


Dover Motorsports, Inc.

Forum Home Page


DVD Home Page

DVD Reference


For the dissident shareholder's press release announcing the letter reported below, see


Wall Street Journal, October 18, 2010 article


Need a Real Sponsor here

OCTOBER 18, 2010, 9:48 A.M. ET.

Marathon Partners Urges Dover Motorsports To Consider Options

Marathon Partners LP urged Dover Motorsports Inc.'s (DVD) board to immediately appoint two independent directors and again urged the company to consider its options, including putting the raceway operator on the block.

Marathon, the company's largest outside shareholder, sent a letter to Dover Motorsports' board after the company and sibling Dover Downs Gaming & Entertainment Inc. (DDE) broke off their roughly $62.9 million merger deal on Wednesday amid strong shareholder opposition from shareholders of both companies.

Marathon last week called it a "value-destroying transaction" meant to prolong Chairman Henry Tippie's "dominion."

On Monday, Marathon managing member Mario D. Cibelli said, "What little remained of the board's credibility is now all but lost, especially as far as representing the best interests of the company's unaffiliated stockholders is concerned."

Cibelli called on the board to "provide full and complete accounting to stockholders of all funds spent in furtherance of this folly" and recommended the appointments of two directors recommended by its unaffiliated shareholders to help assure their interests are "fully and fairly considered" in any board actions.

"A return to the status quo is unacceptable," Cibelli said.

A Dover Motorsports spokesman wasn't immediately available to comment. The company's shares were up 3 cents in early trading at $1.85. They are down 11% this year.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481;


Copyright 2010 Dow Jones & Company, Inc. All Rights Reserved



This Forum project is open to all shareholders of Dover Motorsports, Inc. (NYSE: DVD), or its affiliate, Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE), and to any fiduciaries or professionals concerned with their investment decisions. Participation is free of charge, according to the Forum's standard Conditions of Participation.

The purpose of the Forum is to provide shareholders with access to information and a free exchange of views relating to their consideration of issues described in the Forum Summary. As stated in the Conditions, all Forum participants are expected to make independent use of information obtained through the Forum, subject to the privacy rights of other participants. Forum polices are intended to support anonymous communication, and provide that participants will not be identified or quoted without their explicit permission.

Inquiries and requests to be included in the Forum's distribution list may be addressed to

The information provided to Forum participants is intended for their private reference, and permission has not been granted for the republishing of any copyrighted material. The material presented on this web site is the responsibility of Gary Lutin, as chairman of the Shareholder Forum.