NASCAR is returning to the Nashville Fairgrounds Speedway per a new agreement between Speedway Motorsports and Nashville Mayor Freddie O’Connell that calls for the historic track to be renovated by 2027.
WZTV, the FOX station in Tennessee’s state capital, reported the new agreement includes:
- A $30 million bond.
- Construction of a new grandstand that will have a maximum of 25,000 seats.
- At least one NASCAR race every two years.
- Maximum sound levels lower than current standards.
- A requirement that race cars are fitted with mufflers for all non-NASCAR races.
- Construction of a new 500-vehicle parking garage. The money generated by the garage will go to the Metro Fair Board as will $5 from every race ticket sold.
Speedway Motorsports, which owns Nashville Superspeedway in Lebanon, Tenn., and Bristol Motor Speedway, has exclusive rights to develop the Fairgrounds Speedway footprint while the agreement requires SM to guarantee any debt associated with construction. WZTV reports the contract includes the track operator paying rent sufficient to make bond payments.
It also penalizes Speedway Motorsports if it fails to deliver promised NASCAR races. Races would be limited to 10-race weekends per year and there would be a curfew for all non-NASCAR events…