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NASCAR’s Kyle Busch sells Mooresville headquarters for 2 times its worth, records show

NASCAR driver Kyle Busch recently sold his Mooresville-based Truck Series headquarters to Concord-based Spire Motorsports for double the property’s assessed value, public records show.

Spire paid $7 million more than what Iredell County tax assessors say the building and land at 351 Mazeppa Road are worth, according to county tax records.

Through its Spire Properties LLC, based in Cornelius, Spire paid nearly $14.5 million for the property, the records show.

The Charlotte Business Journal first reported the sale price.

How much is the property worth?

Iredell County values the building and land at $7.8 million — $7.3 million for the building, $233,000 for other structures and features, and $313,000 for the land, according to the public documents.

Spire Holdings, another Cornelius-based limited liability company, is listed as the sole managing member of Spire Properties LLC, according to records filed with the N.C. Secretary of State’s office in Raleigh.

Spire Motorsports III LLC is a managing member of Spire Holdings, the documents show.

On Saturday, Spire Motorsports spokesperson Matt Klug said the county’s tax valuation doesn’t include “the contents of the property — the equipment, the assets, the intellectual property.”

“As part of that purchase, Spire Motorsports also bought (Busch’s) Rowdy Manufacturing, a chassis-building company,” Klug added.

Kyle Busch Motorsports Truck Series sale

Busch made national headlines in September when he announced the sale of his Kyle Busch Motorsports Truck Series operation and his Rowdy Manufacturing assets to Spire.

The transaction included the 77,000-square-foot building that housed both businesses, Busch said at the time.

Busch, the 2015 and 2019 Cup Series champion, said he would remain involved with Spire, continuing to serve as a consultant and run in five truck races, The Charlotte Observer reported at the time.