Badlands Entertainment Group has struck a deal to purchase the famed Huset's Speedway in Brandon, South Dakota.

Chuck Brennan, CEO of Badlands Entertainment Group, said:

I am a long-time fan of Huset's, and the opportunity to bring it into the Badlands family is a dream come true for me. We are planning a massive facelift for this iconic family racing facility and have budgeted millions in improvements over the next several years.

It will continue to be known as Huset's Speedway through the 2015 season and will be operated by the current owners. At the end of the season it will officially become Badlands Motor Speedway for the 2016 season.

Brennan is a native of Sioux Falls and a nationally renowned businessman and philanthropist.

Several of his business enterprises were founded in the city, including Dollar Loan Center, Brennan Rock & Roll Academy and Badlands Pawn, Gold & Jewelry, opening Thanksgiving Day 2015.

See official press release from Huset's Speedway.