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The report said wheeler wanted to make the announcement next Wednesday, four days after Sunday's Sprint Cup Coca Cola 600 race in Concord, N.C., but the move was pushed up because of a disagreement between Wheeler and Bruton Smith, chairman of Speedway Motorsports Inc., which owns LMS.

"The suddenness was not my idea", Wheeler said. "I would have liked to have stayed around a little bit, just eased out a little easier maybe in a part-time role."

The 69-year-old Wheeler was named the racetrack's general manager in 1976 and has been chief executive officer and president since 1980.

He added that he will not accept a part-time offer if one is made.

Smith said Wheeler was offered a consultant's salary for five years beyond the $12,500 a month SMI has agreed to pay him for the next 10 years.

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