NASCAR: Last week’s big announcement could have long-term impact

NASCAR took another great step toward returning to Nashville Fairgrounds Speedway, with Mayor John Cooper agreeing to the track renovation plan.

Nashville Mayor John Cooper announced the city’s agreement with Speedway Motorsports, LLC and Bristol Motor Speedway to modernize Nashville Fairgrounds Speedway in Nashville, Tennessee in attempt to bring NASCAR Cup Series racing back to the facility.

This is another step towards updating another great short track in order to bring NASCAR back to the heart of Nashville for the first time since 1984.

The mayor’s office newsroom issued a release in which Mayor Cooper stated the following.

"“This partnership creates an economically viable future for our historic track, spurs hundreds of millions of dollars in economic activity, and completes the last unrenovated part of the Nashville Fairgrounds at no cost to the Metro General Fund.”"

The proposal will now be reviewed by an independent sports financial consultant before being presented to the Board of Fair Commissioners. If the board approves, the plan will be given to the Metropolitan Council and the Metropolitan Sports Authority.

In the deal, Bristol Motor Speedway will lease and run Nashville Fairgrounds Speedway for a 30-year term. Sound mitigation infrastructure and a new 30,000-seat grandstand will be constructed.

To fund the plan, the Sports Authority would issue a 30-year bond along with rent payments, attendant fees and taxes, sponsorship deals, and facility revenues.

This announcement does not guarantee the return of NASCAR to the speedway, but it does follow up on the mayor’s letter of intent to renovate the track, signed in March 2021. This announcement marks another sign of progress in moving that plan forward.

For NASCAR and Speedway Motorsports, adding a modernized Nashville Fairgrounds Speedway to the schedule would be a no-brainer.

Nashville is a rapidly growing market and is a cultural hub for the South. NASCAR’s race weekend at Nashville Superspeedway in June 2021, NASCAR’s Burnouts on Broadway, and IndyCar‘s Nashville Grand Prix showed that the city will support racing.

With only 30,000 seats, NASCAR at the Fairgrounds would be a hot ticket. Optically, full grandstands are a great look to show the sport is still successful, especially compared to the negative press generated by empty bleachers at tracks such as Texas Motor Speedway.

Entering the Next Gen era, NASCAR is looking to add more short tracks and road courses to the schedule to replace some intermediate track dates. The Nashville Fairgrounds Speedway is 0.596 miles (0.959 kilometers) long, making it fit perfectly with what the sport is shifting back towards.

If the plan is approved, this short track located in a big racing market that is backed by powerful figures around the sport will be a staple on the NASCAR calendar for years to come.