A deal has been reached between track operator Formosa Productions and Bristol Motor Speedway that could lead to the return of NASCAR to the Fairgrounds Speedway Nashville, BMS announced Wednesday.
The deal is “an agreement to explore bringing major NASCAR racing events” to the .596-mile track.
The two entities will work “on a long-range plan of significant track improvements and high-profile race events that could include NASCAR events upon the facility meeting standards.”
The deal must be approved by Nashville’s Metro Board of Fair Commissioners.
“Tony and our team both see the same bright future for Fairgrounds Speedway,” said Jerry Caldwell, executive vice president and general manager of BMS, in a press release. “Nashville has a special reputation as one of the most exciting tracks in the history of motorsports, and the region has a remarkably large and passionate fan base. The motorsports industry – the sanctioning bodies, drivers and race teams – is excited about Nashville’s potential to be a regular site for major events. With Metro supportive of that vision, we are eager to start working tomorrow with the city, Tony (Formosa) and other stakeholders at the Fairgrounds and beyond, to develop a first-class racing facility and program.”
2018 was Formosa’s first year in a five-year agreement to run and promote the track after beating Bristol Motor Speedway’s bid to operate the track last year. Bristol is owned by Speedway Motorsports, Inc.
“This is terrific news for fans of racing and drivers all across the country and will bring a brighter future for Nashville Fairgrounds,” Formosa said in a press release. “I’m excited to work with Bruton and Marcus Smith and the Bristol team who I feel will bring this historic facility back to where it belongs. Today marks an exciting new beginning for the Fairgrounds Speedway Nashville.”
Autoweek reports that if the deal is approved it would see Claire Formosa, vice president of Formosa Productions, become a full-time employee at BMS as a liaison between the two tracks.
Tom Formosa told the Metro Board of Fair Commissioners in October a deal was “still very premature” according to a report by The Tennessean that said a possible deal could lead to the Xfinity and Gander Outdoors Truck Series competing on the track.
Fairgrounds Speedway last hosted a Cup race in 1984 and Xfinity and Truck Series races in 2000.
Marcus Smith, the CEO of SMI, said on SiriusXM NASCAR Radio’s “SiriusXM Speedway” that “there is potential” for Cup to make a return to the track.
“That is really dependent on how big the vision is we all settle in on,” Smith said. “My preference is to always go big. If we really set our sights on it, that would be the ultimate goal.”
Smith said the track, located roughly four miles from downtown Nashville, “would be a great place” to try holding a mid-week race.
But before any of that can happen, the track would need to see some major improvements.
“I love the classic style, the huge canopy that hangs over the grandstand,” Smith said. “I think there’s a lot of the character and the history you want to preserve. But you have to bring it up to current specs with proper crash wall, with SAFER foam, a catch fence and network-worthy lighting. There’s a lot that needs to be done.
“The good news is we’ve done it before.”
Smith said work on the track would “ideally” begin in 2019. The earliest any major changes to the NASCAR schedule can occur is 2020.
Smith also said the partnership between SMI and the Formosa’s has “gotta be long-term” and “that’s the only way it really makes sense to do the things we want to do.”