The Las Vegas Review-Journal reports that Las Vegas Motor Speedway is close to getting a second NASCAR Cup race for 2018.
The Las Vegas Convention and Visitors Authority has scheduled a special meeting of its Board of Directors Wednesday to discuss a seven-year sponsorship agreement with the track. The deal would be for $2.5 million a year and could be extended three more years.
The Review-Journal reports that a sponsorship and marketing agreement would dedicate $1 million per race, plus $500,000 a year to market both a spring and fall race weekend at Las Vegas Motor Speedway. The newspaper reports that there are clauses to cancel payments if a race is canceled and not rescheduled, not a top-tier NASCAR race or if it isn’t broadcast on a major broadcast or cable television network.
Cup tracks are in the second year of five-year sanctioning agreements with NASCAR. That doesn’t prevent track companies from moving dates. Las Vegas Motor Speedway is owned by Speedway Motorsports Inc., which also owns Atlanta, Bristol, Charlotte, Kentucky, Texas, New Hampshire and Sonoma.
NASCAR issued a statement from Jim Cassidy, senior vice president of Racing Operations and NASCAR Event Management, that said: “We are constantly working with promoters to discuss and develop NASCAR schedules. We have not finalized any schedules for 2018 or beyond, but will announce them as they become final.”
Las Vegas Motor Speedway, which has hosted one Cup race a year since 1998, issued a statement that read:
“All of the information regarding a potential sponsorship opportunity between Las Vegas Motor Speedway and the Las Vegas Convention and Visitors Authority can be found at www.lvcva.com. When there is more information to provide, we will do so subsequent to the LVCVA Board of Directors meeting on March 8.”