Disney announced recently that it would be closing its on-property racing track, which has played host to several events and attractions over the years, to make room for improved transportation. It is not known exactly what will replace the track, but it could be a parking lot, bus maintenance station, or other kind of hub for transportation. It looks to me most likely that it will make way for an expansion of the Magic Kingdom parking lot.
The speedway opened in 1996, and immediately hosted several important Indy Car Racing events, which were hugely successful. Around 2000, it stopped hosting races, and was used as a location for Walt Disney World experiences. The two most notable of these were the Richard Petty Driving Experience, and the Exotic Driving Experience. The Richard Petty Driving Experience gave guests the experience of driving NASCAR-type autos at high speeds around the track with the assistance of a professional. The latter Exotic car experience gave guests the opportunity to drive Ferraris and Lamborghinis around the track.