Texas Motor Speedway could become a player for the NASCAR All-Star Race or Cup season finale with legislation making the track eligible for money to help bring those events there.
H.B. 3294 was filed Monday without Gov. Greg Abbott’s signature. It becomes effective Sept. 1.
The measure updates the law. It makes the track eligible for funding should it ever get the All-Star race or season-ending championship race. The money comes from the state’s Major Events Reimbursement Fund, which provided millions to help lure the 2017 Super Bowl.
An event has to be listed to be eligible for funding. Texas Motor Speedway previously had not been listed in the law.
“It’s just going to give us a tool, should we choose to use it, to give us an opportunity to pursue some events in a way that have probably never been pursued in NASCAR before,’’ Eddie Gossage, president of Texas Motor Speedway, told NBC Sports. “Don’t know that we’re ever going to use it, but at least it’s something we’ve got in our tool kit that I don’t know anybody else in motorsports has.’’
NASCAR awards its races to tracks. There isn’t a bidding process as there is for a Super Bowl or NCAA Final Four. The 2018 Cup schedule has been set with Charlotte Motor Speedway scheduled to host the All-Star Race for the 33rd time in 34 years. The 2018 schedule has Homestead-Miami Speedway hosting the season finale for what would be the 17th consecutive year.
NASCAR has five-year sanctioning agreements with tracks that go through 2020.
Gossage said that it was his understanding that its two Cup race weekends were not eligible for such funding from the state, so the track sought to have the All-Star Race and championship finale added as part of the legislation.
Events the measure lists as eligible for funding include all-star games for the NBA, NHL, Major League Baseball, and Major League Soccer, a national championship college football game, a World Cup soccer game or tournament and the Professional Rodeo Cowboys Association National Finals Rodeo, among others.
The Major Events Reimbursement Fund is controlled by the governor’s office. There is a formula that determines what each event is eligible to receive. The fund is supported by state and local sales taxes, auto rental tax, hotel and alcohol state taxes.
The Associated Press reported that the 2017 Super Bowl in Houston was eligible for $25 million and the 2016 U.S. Grand Prix Formula One race in Austin, Texas, was eligible for $26 million.
Gossage said the track has not had any discussions with NASCAR seeking the All-Star Race or season finale.
Charlotte Motor Speedway and Texas Motor Speedway are both owned by Speedway Motorsports Inc., so moving the All-Star Race would have to be approved by Marcus Smith, president, chief executive officer of SMI.
“Ultimately, it’s Marcus’ decision as to whether to try to use it, and I honestly can’t tell you what he would say,’’ Gossage said. “He’s president of the company and that’s all eight speedways. He’s got to make decisions that are in the best interest for the company. That’s going to be tough particularly when the company is based in Charlotte and we’re talking that one of these events is a Charlotte event.’’
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