NASHVILLE, Tenn. (WKRN) — The city of Nashville is in talks with Bristol Motor Speedway to bring NASCAR televised racing to the Nashville Fairgrounds Speedway as soon as 2022.
Nashville Mayor John Cooper said Monday morning discussions between the two would include management of the track to be potentially taken over by Bristol Motor Speedway, shifting financial responsibility for track renovation and maintenance to Bristol Motor Speedway, and generation of additional revenue to the city through lease, rent and shared-event-revenue agreements.
He said a potential agreement envisions the Nashville Fairgrounds Speedway attracting NASCAR-level racing events and continuing local racing, as well as attracting certain non-racing events, such as auto shows, live music, bicycle races and corporate functions. Community organizations would also have opportunities to use the renovated, multi-purpose facility, the mayor added.
According to a statement from the mayor, “a successful agreement would preserve and upgrade Nashville Fairgrounds Speedway as one of Nashville’s unique entertainment assets. Such an agreement would also turn the track into a significant money-making operation for the Fairgrounds.”
The city’s goal is for the additional Speedway revenue to cover the capital cost of needed track repairs and upgrades, as well as to fund adjacent community and park improvements, Cooper explained.
He added, “the racetrack can stop being a financial drain on taxpayers. Instead, it can generate positive cash flow and help fund community improvements at the racetrack, at the Fairgrounds and at Fair Park. This historic site can be a great, long-term asset for the community and the city.”
Nashville Fairgrounds Speedway is the second-oldest operating motor speedway in the country, dating back to 1904.