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Porsche saves South African track, buys it for $19.5 million

South Africa's most famous motor racing track just got an extension. The South African unit of sports car maker Porsche bought the Kyalami race track for $19.5 million at an auction Thursday, easing concerns among racing enthusiasts that the winning bidder would tear up the track and build office or commercial buildings in its place. 'It's going to stay in the industry, which is the most important thing,' said Lance Chalwin-Milton, the auction director. Kyalami, on the northern outskirts of Johannesburg, hosted 20 Formula One races between 1967 and 1993. It was dropped from the circuit in 1985 when South Africa came under an international sports ban because of white minority rule, and...
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