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SMI pushes back on Nashville Fair commissioner’s comments

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Speedway Motorsports’ Marcus Smith and Jerry Caldwell each pushed back Tuesday on critical comments made by a Nashville Fair Board Commissioner alleging SMI has “failed to engage” with it regarding plans to bring NASCAR to the historic Fairgrounds Speedway.

The comments by Commissioner Jason Bergeron, reported by The Tennessean, were made at Nashville’s monthly Fair Board meeting and revolved around the dispute over a $335 million Major League Soccer stadium that has been approved by the city and, pending approval by the mayor, would be built next to the speedway.

“We need to decouple any notion of racing from this right now,” Bergeron said. “That process hasn’t even started because (Speedway Motorsports) has failed to engage.”

Smith, the CEO and president of SMI, responded on Twitter by calling Bergeron’s accusation “just not true.”

Bristol Motor Speedway, which has spearheaded the attempt to bring NASCAR racing back to Nashville, released the following statement from Caldwell, the track’s vice president and general manager:

We’ve presented the city – Mayor Cooper and the Fair Board – with a plan to restore the historic speedway and give it an economically viable future. In meetings with Mayor Cooper, his team and other city officials during the past several weeks, we’ve been asked to evaluate different operating scenarios and have provided information to the city as requested. We’ve done everything we have been asked to do and have met with everyone we have been asked to meet with. We will continue to provide any assistance necessary as the city considers what’s best for the future of the Fairgrounds.

Because the Fair Board has a Metro Charter-obligation to maintain the speedway, we have been and continue to be optimistic that the commissioners and the mayor will be supportive of a partnership with BMS to modernize and financially sustain the speedway.

Our team has long believed in the future of the historic speedway and the Fairgrounds. We became even more excited about that future when Nashville was awarded an MLS franchise and committed to build a new soccer stadium. It is within the city’s reach to have a thriving multi-use sports and entertainment complex to create a true landmark for the city

SMI seeks an agreement with Nashville to bring top-tier stock-car racing back to the city but has not been able to work through financing and other issues. SMI proposed a $60 million renovation plan in May for the historic .596-mile track that would increase seating capacity from 15,000 to 30,000, among other projects.

A previous plan for $54 million in bond payments was rejected by then-Mayor David Briley. John Cooper defeated Bailey to become the city’s mayor in September.

The Tennessean reported in December that the mayor’s spokesperson confirmed that the administration received a new proposal from SMI and it was being reviewed.

Cooper published an opinion column on Sunday expressing his desire to reach an agreement that works for both the soccer and racing communities.

“One historical use is auto racing, which is mandated by our Metro Charter,” Cooper wrote. “I’m working to find a path for racing’s success, and in these negotiations, I’ve secured additional space to allow for necessary speedway improvements. Higher-level auto racing will attract more visitors and ensure the long-term sustainability of the fairgrounds.”

Last month, Smith told NBC Sports that he was still “very optimistic” about NASCAR racing returning to Nashville, which is the new host of the Cup Series’ awards banquet.

“Everything we’re working on seems to be moving forward in a reasonable pace,” Smith said. “I don’t think I can really put a timeframe on it right now because it would just be speculation.”

There is a push for Nashville to potentially be part of the NASCAR schedule in 2021. The schedule is expected to be announced in early April.
Steve O’Donnell, NASCAR’s chief racing development officer, said last month: “I would say Nashville as a market is a high priority for us in 2021.”

Sioux Chief to sponsor ARCA Showdown, East Series to race at Nashville Fairgrounds

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ARCA announced Saturday that Sioux Chief Manufacturing will be the entitlement sponsor of its 10-race ARCA Menards Series Showdown in 2020.

Sioux Chief Manufacturing is a Missouri company that designs and manufactures rough plumbing products, parts, and accessories for residential, commercial, industrial and government applications

Sioux Chief has been involved in ARCA since 2015 as a race event sponsor and special awards program sponsor and sponsored ARCA’s former Short Track Challenge.

As part of the deal, a newly increased point fund, combined with race purses, owner plan, and contingency awards, will offer teams a chance to compete for a share of over $920,000 in posted awards throughout the series.

The Sioux Chief Showdown will bring together the best drivers from the ARCA Menards Series, the ARCA Menards Series East and ARCA Menards Series West, formerly known as the NASCAR K&N Pro Series. Those events, held on oval tracks 1.25-miles in length and under and road courses, offer drivers who may not be able or eligible to run the full 20-race ARCA Menards Series schedule the opportunity to run for a championship. Combined with the overall ARCA Menards Series championship, and the East and West championships, drivers will have four separate championships to compete for in 2020.

The announcement was made at the Performance Racing Industry Trade Show in Indianapolis. Also present was promoter Bob Sargent of Track Enterprises, who announced that the ARCA Menards Series East would compete at Nashville Fairgrounds Speedway on May 2.

The Tennessean reported this week that the Nashville Fairgrounds was negotiating with Sargent to promote at least three races at the short track in 2020. Sargent’s involvement in the track comes after Nashville’s Fair Board voted to terminate its agreement with Formosa Productions to run the track over outstanding debt.

The ARCA Menards Series has competed at the Fairgrounds the last five seasons. The ARCA Menards Series East, formerly known as the K&N Pro Series East, competed there from 2007-08.

Nashville Fairgrounds in negotiations with new race promoter

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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.”

 

Nashville Fair Board votes to terminate contract with operator of Fairgrounds Speedway

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The Nashville Metro Fair Board voted Tuesday to terminate its contract with the operator of Fairgrounds Speedway, a track being eyed for a possible NASCAR race, according to The Tennessean.

Last December, Formosa Productions and Bristol Motor Speedway announced “an agreement to explore bringing major NASCAR racing events” back to the .596-mile track. The earliest Nashville could potentially be added to the schedule is 2021, though the schedule for that season is expected to be revealed in April.

Bristol Motor Speedway released a statement Tuesday night saying it is still interested in pursuing future involvement with the Fairgrounds Speedway.

“We appreciate all that Tony and Claire Formosa have done to sustain local racing in Nashville over the years,” said Jerry Caldwell, executive vice president and general manager for Bristol Motor Speedway. “Today’s news does not change our interest or belief that Nashville Fairgrounds Speedway can be returned to prominence to help create a true renovation of the Fairgrounds. There is huge local, regional and national interest in the future of the Nashville Fairgrounds Speedway. As Mayor (John) Cooper, the Fair Board and Council determine what’s next for the historic race track, we are ready to engage with them on the vision that we believe can deliver a bright future for the Fairgrounds.”

The vote to terminate the contract with Formosa Productions, operated by Tony and Claire Formosa, is in response to a claimed breach of contract, which was first raised by the city in April and includes unpaid concessions commissions and rent payments.

A fairgrounds spokesperson told The Tennessean that the Formosas would owe the city nearly $180,000 by the end of the year. The Tennessean reports the Formosas have 90 days to vacate the premises.

According to The Tennessean, Nashville Fairgrounds Director Laura Womack said she and another board member met Oct. 14 with the Formosas and asked that they provide specific contract changes and documents regarding attendance and revenue records from this year’s racing season.

A meeting where those documents were due to be delivered was rescheduled to Nov. 6 before it was canceled by the Formosas.

“This shows little to no faith that we will be paid by the end of the year,” said Fair Board member Caleb Hemmer, according to The Tennessean. “Which begs the issue that we need to start looking to the future and what we need to do as a board to ensure there’s racing next year if the (Formosas) can’t fulfill their obligations as put forth by (the contract).”

Jim Roberts, an attorney representing the Formosas, attended the meeting according to The Tennessean. Roberts believed the meeting, which was delayed two hours due to winter weather, was in violation of the opens meeting act due to it not being properly noticed.

The Formosas have operated the track since 2010 and entered into a five-year agreement in 2017 after the city chose its bid over one from Bristol Motor Speedway

The deal between Formosa Productions and Bristol Motor Speedway, which would need to be approved by the Fair Board, would focus “on a long-range plan of significant track improvements and high-profile race events that could include NASCAR events upon the facility meeting standards.”

In May, Bristol officials revealed a $60 million proposal to renovate the track.

The plan would increase seating capacity of the .596-mile short track from its current size of 15,000 to 30,000, as well as include an expanded concourse, premium seating, pedestrian tunnels and sound barriers.

 

$60 million Nashville Fairgrounds Speedway renovation plan revealed

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Speedway Motorsports Inc. officials on Tuesday revealed their long-awaited $60 million renovation plan to bring NASCAR racing back to Nashville’s Fairgrounds Speedway.

This is the first public revealing of the renovation plan after several closed-door meetings between SMI officials and representatives of Nashville Mayor David Briley’s administration.

“This is your racetrack,” said Jerry Caldwell, Bristol Motor Speedway executive vice president told Metro Board of Fair commissioners, according to The Tennessean. “This racetrack belongs to the people of Nashville. We see tremendous potential … and are willing to offer our resources and experience in partnership with you.”

SMI’s plan would increase seating capacity of the .596-mile short track from its current size of 15,000 to 30,000, as well as include an expanded concourse, premium seating, pedestrian tunnels and sound barriers, according to The Tennesseean. Caldwell also revealed a financing plan that could be done through revenue bonds and revenue generated through the use of speedway property.

A previous funding plan by SMI for $54 million in bond payments and $2 million in a city cash subsidy was rejected by Briley’s administration, which wants the project to be a private investment and not include any funding from taxpayers, according to The Tennessean.

One other major obstacle remains: a new $275 million Major League Soccer stadium – and surrounding mixed-use development that would include private residences – will have one of its abutting walls only 20 feet from the Speedway’s main entrance. It has been a stumbling block that neither the city, the soccer team nor SMI have been able to reach a compromise on.

Nashville SC, the group that will bring MLS soccer to the city and is behind construction of the new stadium, has remained adamant that its plans are set in stone.

Our group has worked diligently over the past eighteen months to engage with stakeholders, the Fairgrounds staff and the architects to design a stadium and surrounding development that safely serves the property and future users of the Fairgrounds,” Zach Hunt, a spokesperson for the MLS ownership group, said in a statement, according to The Tennessean.

“The Mayor and Metro Council made the boundaries for our project very clear and we’ve maintained our commitment to building a first-class venue within those boundaries.”

Metro council member Robert Swope told The Tennessean, “We have a chance, if we redo the speedway along with this (soccer stadium), to turn this facility into the crown jewel of Nashville. But that only happens if you bring an operator like (Speedway Motorsports) to help with the speedway renovations.”

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