HERMON, Maine — Speedway 95 has a new owner and a new name.

NASCAR legend and Newburgh native Ricky Craven officially announced his purchase of the historic racetrack at a press conference on Thursday.

"All of a sudden, I got an opportunity to come home and be part of a track that I grew up on," Craven said.

The venue will now be called "Speedway," dropping "95" from its name.

The track will also be getting a facelift with the help of several business partners. Craven plans to invest $5 million into the facility.

One of those partners is Bar Harbor Bank & Trust. Leaders at the company said partnering with Craven was a no-brainer.

"You hear him say 'we,' not 'I.' [That] really drew us in. I think that is going to continue to attract more partners, which makes the potential of this o

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