The circuit hosted its final NASCAR Nationwide event last month and Dover Motorsports said it would not be seeking to run any NASCAR events on the track from 2011.
Dover Motorsports said it has been in discussions with "several" interested purchasers.
"Gateway is a tremendous facility in a great racing community, but we are simply unable to operate it with an acceptable return," said Denis McGlynn, CEO of Dover Motorsports.
"We truly appreciate the many years of dedication shown by our Gateway employees and their efforts to make Gateway such a great destination for all those passionate about our sport - from racing fans and drivers to sponsors, team owners and sanctioning bodies."
Gateway, located near St. Louis, hosted CART races from 1997 to 2000, then being the home of IndyCar events until 2003.
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