The St. Louis Post-Dispatch and USA Today are reporting that, following months of speculation, the NHRA Full Throttle Drag Racing Series will return to the Gateway International Raceway in Madison, Ill. October 5-7, 2012 under a new lease agreement with former professional racecar driver and St. Louis area land developer Curtis Francois.

The agreement will officially be announced today, just ahead of the NHRA’s expected unveiling of the 2012 NHRA schedule that’s traditionally released at or within days of the NHRA U.S. Nationals in Indianapolis over Labor Day weekend.

The early October date means that the NHRA Midwest Nationals will become part of the NHRA’s six-race “Countdown to the Championship” that crowns the champions in each of the series’ four professional categories.

“We are currently working with state and local governments to put together a redevelopment plan that will allow us to purchase the facility and lay a firm financial foundation for the track,” Francois told the Post-Dispatch. “We’ve received incredible interest and support from the racing industry, state and local officials, local businesses and racing fans. We are very excited about the jobs this investment can create and the overall economic impact it can have on the region.”

Francois, according to the Post-Dispatch and stltoday.com, is a former professional racer who has competed in NASCAR, Grand-Am, the IRL, SCCA, and IMSA, and has been a residential and commercial land developer in the St. Louis area since 1998.

“In order to be a part of the 2012 season, we had to move quickly and negotiate a lease for the facility,” Francois said. “We are excited to reach an agreement with the NHRA. This event is very important for the future viability of the track and illustrates the interest the industry has in revitalizing this wonderful entertainment venue. We look forward to a long partnership with the NHRA.”

NHRA President Tom Compton is also excited to see the series return to the city known as the ‘Gateway To The West.’

“We never wanted to leave Gateway,” Compton said in a phone interview. “We’re thrilled to be coming back. St. Louis is a great market. The group has been terrific to work with and they are good for Gateway.”

Gateway, formerly owned and operated by Dover Motorsports Inc., ceased operations at the conclusion of the 2010 racing season and has remained closed since that time. In March, Dover turned over it’s land ownership and lease to the land owners, leaving the future of the facility in question.

Click here to read the St. Louis Post-Dispatch article in it’s entirety.