Nashville in talks to bring NASCAR to Fairgrounds Speedway as soon as 2022

NASHVILLE, Tenn. (WZTV) — A televised NASCAR race could take place in Nashville as early as 2022.

Mayor John Cooper said the city is in talks with Bristol Motor Speedway to bring professional racing to an "improved" Nashville Fairgrounds Speedway in just a couple short years.

“The racetrack can stop being a financial drain on taxpayers. Instead, it can generate positive cash flow and help fund community improvements at the racetrack, at the Fairgrounds and at Fair Park. This historic site can be a great, long-term asset for the community and the city,” Mayor John Cooper said.

Cooper says the fairgrounds speedway is the second oldest in the U.S., dating back to 1904. It's a move that's been popular among NASCAR drivers in recent years.

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Discussions between parties will include:

• Management of the track to be potentially taken over by Bristol Motor Speedway;
• Shifting financial responsibility for track renovation and maintenance to Bristol Motor Speedway; and
• Generation of additional revenue to the city through lease, rent and shared-event-revenue agreements.

The city hopes to recover capitol cost of the racetrack repairs and upgrades and fund community and park improvements.

Proposed improvements include noise mitigation, safety upgrades, more seating and the addition of auxiliary facilities.

“We have an obligation to maintain the track, so it’s smart for Nashville to engage a strong, long-term partner from the auto racing industry to operate it successfully,” Mayor Cooper said. “Modernizing the Speedway brings the track back to its historic prominence. It also brings us another step closer to a Nashville that values its unique assets and uses those assets to build a greater city.”

Improvements would potentially be funded through ticket user fees and increased lease revenues, the city said.

"Potentially, a portion of ticket sales taxes, which would exclude the dedicated share of any ticket revenue reserved for Metro Nashville Public Schools, would also fund improvements," a news release said.

Proposed improvements includenoise mitigation, safety upgrades, more seating and the addition of auxiliary facilities.

“Bristol Motor Speedway and Speedway Motorsports are thrilled to take this step forward with Mayor Cooper, the Fair Board, Metro Council and the neighborhood stakeholders,” said Marcus Smith, president and chief executive officer of Speedway Motorsports and Bristol Motor Speedway. “We can work together to transform Nashville Fairgrounds Speedway into an amazing multipurpose entertainment destination. We’re ready to roll up our sleeves and go to work to fully restore the speedway, recruit national events and breathe new life into a venue that has a legendary status in auto racing history.”