### A New Era for Nashville Fairgrounds Speedway: NASCAR Cup Series Revival on the Horizon
**By Mike Organ**
A monumental step towards the return of NASCAR Cup Series racing to the historic Nashville Fairgrounds Speedway was taken on Tuesday. The Metro Fair Board was presented with comprehensive lease and development agreements between Metro and Bristol Motor Speedway (BMS) to restore the venerable racetrack. This proposal marks a significant milestone in reviving a venue that has not hosted a NASCAR Cup Series race since 1984, yet remains an iconic part of Nashville’s rich motorsports history.
The Nashville Fairgrounds Speedway, established 118 years ago, stands as the second-oldest continuously operating track in the United States, just behind the Indianapolis Motor Speedway. It even predates the famed Ryman Auditorium by a year. From 1958 to 1984, the speedway was a staple in the NASCAR Cup Series, hosting two races each season. The proposed renovation by BMS, a leader in motorsport venue management, could bring top-tier NASCAR racing back to this historic track, signaling a renaissance for Nashville’s motorsports culture.
### The Proposal: A Comprehensive Overhaul
Nashville Mayor John Cooper and BMS reached a preliminary agreement last December to undertake a major overhaul of the Nashville Fairgrounds Speedway. On Tuesday, Jerry Caldwell, president and general manager of BMS, presented the detailed proposal to the Fair Board. The proposal outlines a partnership in which BMS would enter a long-term lease to manage and maintain the speedway. This initiative aims to transform the venue into a modern, year-round, multipurpose facility without requiring investment from the city’s budget or obligating debt.
The agreement proposes a significant investment in track renovations and ongoing maintenance. Notably, it includes a rebuilt grandstand to accommodate approximately 30,000 spectators, up from the current capacity of 25,000. Additionally, the racing surface will be modernized with improved driver and spectator safety features. The inclusion of sound absorption measures aims to reduce the noise level by 50% compared to current conditions, addressing concerns from local residents about potential noise disturbances.
### Financial Framework and Economic Impact
The financial structure of the renovation project is robust and multi-faceted. It involves a $17 million up-front contribution from the State of Tennessee and another $17 million from the Nashville Convention & Visitors Corp. The Metro Sports Authority will issue 30-year revenue bonds to cover the remaining costs. Revenue streams to service the debt and maintain the facility will include rent payments, taxes from venue patrons, sponsorship deals, and event revenues.
Speedway Motorsports, Inc. (SMI), the parent company of BMS, owns 11 NASCAR Cup Series tracks, including Nashville Superspeedway, home of the Ally 400 NASCAR Cup Series race in Lebanon. According to Caldwell, a NASCAR Cup Series event typically generates around $100 million in annual economic impact for its host city. A study commissioned by the Nashville Convention & Visitors Corp and conducted by Oxford Economics estimated that a NASCAR Cup race at the Fairgrounds could yield up to $200 million annually for Nashville, including economic benefits from other events held at the venue.
### Community Engagement and Concerns
The proposal has been crafted with considerable input from local stakeholders. Caldwell noted that BMS collaborated with 25 neighborhood and community organizations, many of which had concerns about the noise and traffic associated with an upgraded racing facility. The implementation of advanced sound-absorbing technologies aims to mitigate these issues, demonstrating a commitment to balancing the needs of racing fans and local residents.
Fair Board chair Sheri Weiner emphasized the importance of public feedback, stating that the board will thoroughly review the proposal and gauge community sentiment before making any decisions. “It is a long read,” Weiner noted, highlighting the comprehensive nature of the agreement. “It answers lots of questions that we’ve had. I look forward to us having the opportunity to hear from the public and understand the impact on neighbors and taxpayers.”
### The Vision for the Future
The proposed renovation is not just about racing; it envisions the speedway as a versatile venue capable of hosting a variety of events year-round. This includes corporate events, festivals, concerts, and other special occasions, in partnership with the Nashville Convention & Visitors Corp. While NASCAR Cup races would be a highlight, the facility would continue to support local racing events, limited to 10 weekends per year as per the current arrangement. Additionally, the number of track rental dates would be reduced, potentially alleviating some of the community’s concerns about frequent noise and activity.
### Opposition and Concerns
Despite the promising aspects of the proposal, there are critics who question the feasibility and community impact of the renovation. Jason Bergeron, a former Fair Board member, voiced his concerns about the potential for increased noise and the financial burden on taxpayers. He emphasized the need for stringent contractual agreements to ensure that BMS adheres to community impact limits and takes full responsibility for the project’s debt, similar to the financial guarantees provided by Nashville SC for Geodis Park.
“My biggest concern is making sure that the actual contracts hold BMS to real community impact limits,” Bergeron said. He stressed the importance of a full debt guarantee from BMS, cautioning against exposing taxpayers to financial risks if the project does not meet revenue expectations.
### Next Steps and Timeline
The path forward involves detailed scrutiny of the proposal by the Fair Board, Metro Sports Authority, and Metro Council. The Fair Board will review the proposal over the next few months, likely holding public meetings to gather community feedback. Meanwhile, BMS will begin working with engineering and construction firms to finalize the design and cost estimates for the renovation.
The goal is to finalize these details before presenting the proposal to the 40-member Metro Council in 2023. The project represents a pivotal moment for Nashville, potentially revitalizing a historic venue and reinvigorating the local economy through enhanced tourism and community events.
In conclusion, the proposed renovation of the Nashville Fairgrounds Speedway marks a significant chapter in the city’s history. It promises to bring NASCAR Cup Series racing back to a cherished venue, with a modern twist that balances the heritage of the sport with contemporary needs. As Nashville awaits the decision, the city’s motorsports community remains hopeful for a future where the roar of engines and the cheers of fans once again fill the air at this storied track.
