Speedway Motorsports, Inc. president and CEO Marcus Smith has an ambitious vision for NASCAR's future at Fairgrounds Speedway Nashville.
His company reached an agreement with the speedway's current leaseholders on Wednesday and now must reach a deal with the City of Nashville that owns the track before any NASCAR dates can be added to the veneral 0.596-mile Tennessee speedway. Should SMI accomplish that goal, it is believed that Fairgrounds Speedway Nashville will be added to the 2020 NASCAR Xfinity Series and Gander Outdoors Truck Series schedule.
Smith tackled the topic on SiriusXM NASCAR Radio with host Dave Moody on Wednesday after the announcement and provided additional details about his vision for major league stock car racing at one of the sport's oldest venues.
What's the latest news?
"What we've done is started the first step to do just that, bring NASCAR back to Fairgrounds Speedway Nashville. We still have some work to do. We have a great relationship with the city and with the Formosas who have been operating the weekly program at the race track really successfully. So now we've got to work with the city and other people to bring this vision to life and get it ready for the big time. We're working hard with the city with the goal of bringing the Fairgrounds back to life."
When is the soonest NASCAR could race there?
"I would say, ideally, that we could see some work begin in 2019, and the soonest we could expect to see a change in the schedule is 2020."
Have you spoken to NASCAR about Nashville?
"I have talked to them. We've received some great feedback and encouragement. We all see it as a real positive development and a great addition to the schedule. There's a lot to work out with the city and the Fairgrounds. A lot of people are optimistic and it's a positive thing for us to all set our sights on."
Is the Cup Series part of this vision?
"I think there is potential for that … My personal preference is to always 'go big.' If we really set our sights on it, the ultimate goal is to have a Cup Series race there."
Would a current SMI race track have to lose a date for this to happen?
"I think it's both the easiest thing and the hardest thing to shift one track's date to another. When it comes to 2020 and beyond, there are a lot of ideas. I think, it's not out of the realm to consider shifting a date from one place to the other. There's been a lot of talk of mid-week races and the Fairgrounds would be a great place to try that. It's only one mile away from Downtown. That's unusual in NASCAR. I don't want to start a wave of speculation on that, but my point is that there are a lot of ideas and opportunity. We'll throw a lot of darts and see which ones hit the mark."
What does Fairgrounds Nashville need in terms of renovations?
"It's a really great place. I was there just a few days ago to meet with Tony and Claire Formosa. We walked around the facility. I love the big canopy that leans over the grandstands. That's old school. There's a lot of history we would want to preserve but we have to bring it to current specs. It needs foam walls, SAFER Barriers, a catchfence and network quality lighting. There's a lot of work to be done, but the good news is that we've done it before."
Background: It has been estimated that $20-30 million will be needed to properly renovate Fairgrounds Speedway Nashville for a NASCAR Cup Series race. However, the fairgrounds facility will soon host a Major League Soccer stadium and any improvements to the property would benefit both the track and stadium. Just how much money the city spends on the race track will be part of what has to be negotiated.
What work has to be done with local officials?
"We're going to … We've already started working with local officials on ideas and what we could do. We've had great support from the mayor's office, Scott Borchetta and Darrell Waltrip. Dale Jr. has expressed his support. There's a lot of enthusiasm. We're going to have to work with the Fair Board, the Major League Soccer team and Fairgrounds Speedway Nashville team to bring this vision to life."
Does this need to be a long term agreement?
"I think it has to be long-term. Part of the next step is to work out a lot of those details with the city, fair board on what the terms are, the details. We see it as long term and that's the only way to do it, things that are consistent with what's already going on in Nashville. It's amazing what has happened to Nashville over the past 10-15 years. I enjoy every trip I take to Nashville… It's a good place for NASCAR."
Background: Speedway Motorsports Inc. made a play for the weekly operating lease back in 2016. It asked for a 30-year agreement. Ultimately, the city re-awarded a five-year lease to the Formosa family that had operated the track since 2010.
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