POST FALLS - State Line Speedway has rounded a corner.

Owned by brothers Joe and Walt Doellefeld the past 23 years, the 40-acre complex has been sold to Competitive Edge LLC.

"It's a bittersweet day for my brother and I," Joe Doellefeld said during a press conference on Thursday attended by about 50 supporters at Red Lion Templin's Hotel. "We're in our 60s now, so it's time to pass the torch."

"Several years ago, we were approached by a group in Alaska that have energetic, young promoters who assured us that they'd continue the tradition at the track. We kept the sport alive, and this group has the wherewithal to take it to the next level."

The transition should be smooth due to the new owner's ties to the speedway.

Competitive Edge LLC, based in North Pole, Alaska, is the parent corporation to Competitive Edge Racing School, which has been based at State Line Speedway for the past nine years and was founded by Randy and Jeneane Koch.

The Kochs will manage State Line Speedway.

Randy Koch said he plans to build on a winning tradition at the speedway, which seats about 5,000 spectators and hosts more than 60 motorsports events from April through September.

"I'm a very lucky man," Koch said. "We're not here to make a lot of changes. You can't fix something that's not a problem. We're here to help it go to the next level."

Koch said he has learned a lot about the operations during the past nine years, working alongside the Doellefelds.

"Joe and Walt have mentored Jeneane and I," Koch said. "I've done just about every job at State Line Speedway except clean toilets and that comes (today)."

Terms of the sales agreement were not disclosed.

"All I can say is that it was a cash offer," Koch said.

The Doellefelds, named National Promoters of the Year in 2009 by Racing Promoters Monthly, will work at the speedway as consultants in the interim. Koch said he expects the staff to grow from 32 to 40 through the season.

At the press conference, the Speedie L. Sampson super hero track mascot and a new logo with a checkered flag that states, "State Line Speedway: The little oval with a big attitude" were unveiled. Speedie will be in schools teaching seat belt safety.

Koch said racing itself will largely be left alone, but another demolition derby and mini van racing are possibilities.

Koch said a new scoreboard will be erected soon, a kids club headed by Speedie that will offer a bus ride through the pit area will be started and new food items will be offered.

"The kids will be our special dignitaries," Koch said.

There will also be hospitality opportunities for corporate entertainment.

The racing season started on Wednesday.

Koch said a major non-racing event is being planned for July 15, but he declined to elaborate.

"We view the facility as a 12-month facility," said Koch, referring to adding on non-racing events. "With the weather, it's difficult to do things all the time, but racing is just two nights a week."

Competitive Edge LLC also owns North Pole Speedway and the Legend Car dealership in Alaska. Its sister company, Competitive Edge Race Products, sells parts and driver apparel to the North Pole Speedway, North Star Speedway near Anchorage, Competitive Edge Racing School and racers throughout the region.

State Line Speedway was built in 1974 by Bill Eberle. It was later owned by Chuck and Terry Little, parents of former NASCAR driver Chad Little who learned the sport at the track, and also operated by the Garber and Boness racing families.

In the 1970s, the speedway hosted several concerts, including Tina Turner and Blue Oyster Cult.

Its most popular events include the July 3 demolition derby, racing and fireworks show and the Idaho 200 super late model race set for Aug. 6-7 this year.