Nashville-Davidson, Tennessee 2021-11-30 12:09:00 –
Nashville, Tennessee (WSMV)-Nashville Mayor John Cooper and Bristol Motor Speedway have agreed in principle to plan to rejuvenate the NASCAR Cup Series and return it to the Nashville Fairgrounds Speedway. Announced on Tuesday.
After signing the agreement in March 2021, Bristol Motor Speedway offered a proposal to rejuvenate the truck area and return NASCAR to the 117-year-old truck. Cooper agreed with this plan in principle.
With Nashville @BMSupdates Have a proposed plan to rejuvenate our legend @FGSpeedway, Take @ NASCAR Return to Nashville to complete the refurbished trade fair venue without spending money on the metro’s general financial resources. read more: https://t.co/NLRbh2ltUx pic.twitter.com/0dIilqjUuh
— Mayor John Cooper (@ JohnCooper4Nash) November 30, 2021
“This partnership creates an economically viable future for our historic truck, spurs hundreds of millions of dollars in economic activity, and ends the Nashville Fairgrounds without spending money on the Metro General Fund. We will complete the unrefurbished part of the economy, “Cooper said in a news release.
According to a news release, this proposal serves Cooper’s purpose. Activate the Speedway for free with the Metro General Fund. It benefits the entire Fairgrounds camp. Implement noise mitigation as part of the redesign. Reduce track test days and generate hundreds of millions of dollars with positive economic benefits to Nashville.
Since the Metro Charter requires auto racing at trade fair venues, the Metro Government is obliged to maintain the facility. The partnership with Bristol Motor Speedway will fulfill these obligations while returning the second oldest operating motor speedway in the United States to the national stage.
This partnership will create a modernized track that meets the standards of the NASCAR series, turning Fairgrounds Speedway into a true multipurpose venue for non-racing revenue-generating events. BMS is a wholly owned subsidiary of Speedway Motorsports and owns and operates eight state-of-the-art sports entertainment facilities nationwide.
Dover Motorsports, which owns the Nashville Superspeedway in Wilson County, announced that it was acquired by Speedway Motorsports on November 8.
The Mayor has announced that the Fairgrounds Speedway, refurbished and rejuvenated under experienced leadership, will have a significant economic impact on Nashville and the region. NASCAR series and other major race slate is about $ 100 million annually through the expansion of the calendar for non-motorsport events that generate revenue, as well as visitor spending at hotels, restaurants and other local attractions. Produces economic activity. Analysis by Tourism Economics, a division of Oxford Economics.
Fairgrounds’ recent refurbishment included a new state-of-the-art MLS stadium and new expo facilities, but lacked a vision for the future of the historic Speedway. In March, the Metro Government signed an agreement with BMS to explore its involvement with experienced truck operators.
Check out the latest information in this latest news.
Nashville and Bristol Motor Speedway have signed an intention to refurbish the historic Nashville Fairgrounds Speedway for the potential return of NASCAR events at the racetrack.
Speedway Motorsports, Inc. Owns or operates nine racetrack facilities nationwide and is looking to the Nashville Fairgrounds Speedway.
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Mayor Cooper, Bristol Motor Speedway reach deal to renovate Fairgrounds race track | Sports Source link Mayor Cooper, Bristol Motor Speedway reach deal to renovate Fairgrounds race track | Sports