Greg Veinote of Newburgh will officially purchase Spud Speedway in Caribou from co-owners Ralph and Nancy Nason on Friday.

Nancy Nason said she and Veinote will sign the paperwork while Ralph Nason is at Autodrome Montmagny in Quebec, preparing for Saturday night’s American-Canadian Tour race.

The Nasons own Autodrome Montmagny and Unity Raceway.

“I hope he does well,” said Nancy Nason. “The [Aroostook] County needs a race track. A lot of people will be ecstatic over it reopening.”

The track hasn’t had racing since 2000.

The 42-year-old Veinote has said he would like to begin racing next month after he repairs the facility.

He has indicated he would like to have three entry-level divisions: enduro (four-cylinder) for 13- to 16-year-olds, enduro for adults, and a class for six- and eight-cylinder cars.

Spud will have racing every other Saturday afternoon. On the other Saturdays, Veinote hopes to hold motocross and ATV races.

Veinote also has said he would like to hold snowmobile races in the winter.

Nancy Nason wouldn’t release the terms of the deal, but the Nasons lowered the asking price from $125,000 in 2003 to $75,000 last year.