Complex sentence: The major asphalt event held at the track was the World Cup first featuring the All-Pro series but in later years featured the ASA Late Model (formerly known as ARTGO) series North vs. South Showdown.
Split into simpler sentences: The major asphalt event held at the track was the World Cup. This event first featured the All-Pro series, but in later years it featured the ASA Late Model Series (formerly known as ARTGO) North vs. South Showdown.