The long-awaited renovation of the historic Nashville Fairgrounds Speedway and NASCAR’s return to our vibrant city has seemed tantalizingly close for years. But new obstacles and opponents are emerging, threatening to derail this long-promised project now that progress finally appears within reach.
One obstacle, as recently reported by the Nashville Post, is new state legislation aimed to alter the Metro Charter’s language, reducing the number of Metro Council votes required for demolition and approval of renovation financing plans. By lowering the required 27 votes to 21, the legislation seeks to expedite the proposed multimillion-dollar racetrack investment and NASCAR’s return.
But this legislative move is seen by many as state intrusion into the local government’s decision-making process. Though the mayor has supported the speedway’s renovation, he appears to prefer it not be accompanied by legislation that encroaches upon local governance or that detracts from local democracy.
Another and perhaps more surprising obstacle is a rising voice from the Nashville Soccer Club, whose concerns were expressed via a letter from owner John Ingram to the members of the Metro Council. Nashville SC is a valued member of our sporting landscape and has helped elevate Nashville as a premiere sporting destination, and the organization’s concerns deserve consideration. The prospect of having these two large stadiums side by side raises valid questions about the economic and operational impact on both venues. But it is crucial to remember that progress often requires navigating challenges and finding solutions that benefit all parties. And to be frank, the speedway has been here for well over a century. The Nashville Soccer Club built on its site with complete awareness of the speedway’s historic value and Nashville’s intention to maintain and improve the facilities.
I thought Jerry Caldwell, the president and general manager of Bristol Motor Speedway, handled his response letter to Vice Mayor Jim Shulman well. Caldwell wrote that he was glad to see “protecting taxpayers” mentioned in Nashville SC’s letter, because “the Bristol partnership provides immediate and material financial relief for taxpayers by shifting $40 million of legally necessary capital improvement obligations to Bristol Motor Speedway and away from Nashville taxpayers.” As for concerns regarding “increased programming,” the “Bristol partnership will not increase the current schedule of 10 motorsports event weekends each year. NASCAR Cup races are planned for only one weekend every other year — once every 730 days.”
Through open dialogue and collaboration, I believe any concerns can be addressed and a mutually beneficial outcome can be reached. While some may still hold reservations, let’s focus on the positive aspects of bringing the Nashville Speedway up to speed. (Pun intended.) From an economic perspective, the revitalization of the speedway would be a boon for the entire state. NASCAR races attract fans from hundreds of miles, which would inject significant revenue into local businesses, hotels and restaurants.
Further, according to Metro’s fact sheet on the Fairgrounds Speedway Proposal, the renovations will include rebuilding the grandstand to accommodate approximately 30,000 fans, adding new multipurpose event facilities, modernizing driver and spectator safety features, and installing state-of-the-art sound absorption components to reduce auto racing sounds by 50 percent. If approved, the project will include a 30-year lease for Bristol Motor Speedway to manage and operate the speedway, funded by an up-front contribution of $17 million from the state of Tennessee and an additional $17 million from the Nashville Convention & Visitors Corp. The Metro Sports Authority will issue revenue bonds to finance the renovation, with revenue streams from rent payments, venue patron taxes, sponsorship agreements and event revenue.
The renovation of the Nashville Fairgrounds Speedway represents an opportunity to preserve a piece of our city’s rich history. As the second-oldest operating motor speedway in the United States, it holds a special place in the hearts of racing enthusiasts. It has witnessed iconic moments and hosted legendary drivers like Richard Petty, Darrell Waltrip and Dale Earnhardt, contributing to the fabric of Nashville’s heritage. By modernizing the facility, we not only honor this history but ensure that future generations can experience the thrill and excitement of racing.
Our racetrack renovation represents a pivotal moment in Nashville’s journey. The positive impact on our economy, the elevation of our city’s profile as a sports destination and the preservation of our history are compelling reasons to support this transformative project. Let’s overcome the obstacles, recognizing that progress requires determination and a collective vision for a thriving Nashville. We can reach the full potential of the Nashville Fairgrounds Speedway and create a legacy that will be cherished by Nashvillians and race fans for generations.
Bill Freeman
Bill Freeman is the owner of FW Publishing, the publishing company that produces the Nashville Scene, Nfocus, the Nashville Post, and The News.
