Geely, the parent company of Volvo (and Lotus) has just bought a big piece of real estate in Utah.

The company has just gotten approval to buy the Utah Motorsports Campus in Tooele County. That's about 30 minutes west of Salt Lake City. It's the facility known as Miller Motorsports Park until October 2015, when the Miller Group chose not to renew the lease.

Geely subsidiary Mitime initially got access to the facility through a new lease. The company brought in new management and continued to operate the facility. Mitime wanted to buy the facility outright and after three years of operations, the county agreed to sell.

We are thrilled to finally consummate this agreement to purchase Utah Motorsports Campus,” said Mitime VP William. "This facility is a perfect fit with our company’s other enterprises, and we are looking forward to making it bigger and better in the future."

The sale includes not just the 4.438-mile track, but also the 511-acre property that surrounds it. The press release says that the company will continue to honour lease agreements, but that changes could occur in 2019. Utah Motorsports Campus says it expects to release the 2019 calendar "in the near future."

More Volvo club track days? Maybe not. But a Lotus Experience USA could be fun.