Smith, 88, was given a promising prognosis from doctors after being diagnosed this past spring. Smith was treated with surgery and chemotherapy, according to his daughter-in-law, Cassi Mitchell Smith.
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Smith founded SMI in 1994. Today the corporation owns nine speedways, including some of the most popular tracks on the NASCAR circuit in Charlotte, Texas, Las Vegas and Bristol. He received the highest percentage of Hall of Fame votes during the annual vote in May.
