While the city of Nashville reviews a new proposal from Speedway Motorsports, Inc, the Nashville Fairgrounds have entered negotiations with a potential track promoter for Fairground Speedway’s 2020 season, The Tennessean reported Wednesday.
The newspaper reported that the Fairgrounds is negotiating with Track Enterprises to promote at least three races at short track.
The development comes a month after the Fair Board voted to terminate its contract with Formosa Productions over outstanding debt.
Fairgrounds spokesperson Holly McCall told The Tennessean that it was approached by Track Enterprises’ Bob Sargent about being involved in races on the short track next year.
Sargent has a history with the track, having promoted ARCA races there for roughly five years, according to The Tennessean.
Speedway Motorsports, which had previously struck a deal with Formosa Productions looking to bring NASCAR racing back to the track, had announced a $60 million renovation proposal in May.
A spokesperson for Nashville Mayor John Cooper, who was elected in September, told The Tennessean it was reviewing a new proposal from SMI.
McCall told The Tennessean the Fairgrounds had not yet received a new plan from SMI.
Jerry Caldwell, executive vice president and general manager of Bristol Motor Speedway, continues to lead the efforts for Speedway Motorsports to return NASCAR racing to the historic track.
“We understand that it’s a new administration,” Caldwell told NBC Sports about Mayor Cooper during NASCAR’s Champion’s Week in Nashville. “We’re encouraged with the conversations that we’ve had with them and look forward to continuing those. I think we all see a bright future there.
“We all see that there’s a ton of potential at Nashville Fairgrounds Speedway to create something that the city can be proud of, race fans can embrace and love, we can protect the heritage and celebrate that but also turn it into a venue that can be used 365 days a year.”