[vincesanity82]

Lowe's Motor Speedway holds a lot of people and has a lot of history. It also is older than most other NASCAR tracks and offers fewer luxury suites than some. Bruton Smith's bombshell that there's a 90 percent chance he'll close the Concord speedway may be just the latest rhetoric in a dispute with city officials over a proposed drag strip. But a closer look at where Lowe's sits in the NASCAR pantheon and various dollar figures -- some from Smith, others from tax records -- suggest that Smith may consider a new speedway, even with a high construction cost, to be a sound economic decision. Replacing a speedway in a major market is extremely rare, and Smith has said a new track would cost about $350 million -- $100 million more than it cost to build Texas Motor Speedway north of Fort Worth a decade ago. Smith also has said Lowe's needs $200 million in improvements to remain a top NASCAR track, putting the difference between an upgraded Lowe's and a new speedway at $150 million. -- The Charlotte Observer

That's Racin' | 10/17/2007 | Would a new speedway pay off for Bruton Smith, SMI?

[unionmaster]

I think it's stupid cus it's the only track I've been to and gone to frequently
(2x every year) and would have nothing to look forward to year to year!!!!!!!

[LSC9901]

Originally Posted by unionmaster

I think it's stupid cus it's the only track I've been to and gone to frequently
(2x every year) and would have nothing to look forward to year to year!!!!!!!

From all I have heard and read, if there is a new one to be built it will still be in the area. Maybe not in the same county but most definitely in the Charlotte area.

[NASCAR Gnome]

If Bruton Smith gets to build a new track from the ground up, (from what I've heard) it would be the GEM of the NASCAR circuit! He would spare no expense and make it the most fan-friendly track in the country! Apparently the Las Vegas track was re-done by his company and they turned it into a great place for fans... this new track would make Vegas look pedestrian in comparison!

[Racer Duck]

Originally Posted by unionmaster

I think it's stupid cus it's the only track I've been to and gone to frequently
(2x every year) and would have nothing to look forward to year to year!!!!!!!

I understand that SMI (Bruton) owns about 3000 acres on which LMS currently sits. and he'll take a chunk out of it for his new drag strip.

Talladega sits on 200 acres .. imagine what Bruton could do with 10 times the area that Talladega has.... and he doesn't have to buy any land.

[wingkey1]

Gonna be interesting.. Started visiting Concord mid/late 80's on monthly basis. American Express was our account responsibility and their health systems group was in the Concord area.

Back then Concord was clearly "Yuppie-ville". Many "northeners" looking to be outside of the "city" (Charlotte), livin' heaven in the proverbial "sticks" on their "spread". 80 MPH on the Interstate could get ya in Deliverance-ville no problem. More came. Sticks becames suburbs became extension of the city.

Just like Atlanta, Denver, and a host of others, eventually the "spread" engulfed what was once the "sticks" and some forms of entertainment and the associated noise went from the local boys having fun, to nuisance.

Not unlike those who build homes at end runways and several years later sue for issue with noise. Duh!?!

Bruton/LMS/CMS are livin' the scenario. Bruton ain't no dummy. Long term the residents and town committees/councils do prevail. There's already a curfew. The drag strip will move it from occasional noise to continuous noise (in the eyes of enough to matter). Over time, as limits are put on event frequency and length (throttling revenue), the taxable value of the property will be on the rise (throttling margin). It's simply a matter of time.

Likely it will move to either the new "sticks" or to an area where ordinances are negotiated to more event favorable definitions.

Do not buy lifetime seats.

[unionmaster]

I know that it would be nice(the new track and all) but I consider Charlotte my home and riddle me this:
Why doesn't he just BUY Land and create a NEW track because he has SO much money?

[PettyBlue]

Originally Posted by unionmaster

Why doesn't he just BUY Land and create a NEW track because he has SO much money?

That is what he said he would do.Then these other small county people offer free land.They know job's,taxes and money.Does Concord?As stated before,don't mess with money and B. Smith has it.

[unionmaster]

ok understandable

[Bob Tanner]

I was up in Thomasville, NC Wednesday and talked to a guy who lives in Concord. As far as most of the Concord residents and the city fathers go, all sweat pumps are on line and pumping to maximum output.

I don't know if this is factual but I was told that the town of Mooresville has offered Bruton a deal that would be hard to refuse:

400 acres of undeveloped real estate where he can build race tracks, of all shapes and sizes to his heart's content. I was told the city will also pay for all initial land clearing and prepping for whatever Bruton plans to build.
The city will pay for infrastructure improvement ( roads, sewer, power, etc., etc. needed.
As if that isn't enough, Mooresville will grant SMI a five year tax abatement!?

Now, will Bruton make money? Let's see. He already plans on building drag strip and do needed improvements to thew present Charlotte Motor Speedway for around $200 million. With the free property, the free landscaping and the tax abatement, he has a clean sheet of paper and can but the "Track Majhal" for $350 million, or so.

But he also has the current Charlotte Motor Speedway which he says he plans to raze and sell the property in parcels. With the current access to the land from I-85, the close proximity to Charlotte and I-77, my guess is that, at worse, he could get enough money from that land to break even and he has a brand new, modern racing complex.

Yeah, I think he can come out OK in this deal.

I laughed when I read somewhere that he was bluffing. I may be wrong about a lot of things but this I am sure of; when a man has a net worth in excess of $1.5 billion, believe me, bluffing is one thing he never has to resorrt to. He just does things, then hires people to take care of the details.