The sale of 411 Motor Speedway in Tennessee sent shockwaves through the Eastern Tennessee racing community. How could a track that five years ago attracted large crowds and car counts be sold? It boils down to one thing: It was worth more as something else other than a racetrack.
That thought is a tough pill to swallow for racing enthusiasts.
But it’s nothing new.
Want examples?
Beech Ridge Motor Speedway in Maine. I-80 Speedway in Nebraska. Rockford Speedway in Illinois.
Go back further in time and there are places like Atomic Speedway in Tennessee and Islip Speedway in New York.
Head into the future and there’s East Bay Raceway Park in Florida, set to close in October.
All the aforementioned ovals were once viewed as highly successful racetracks. All closed the gates because the property was worth more as something other than being a racetrack.
So, if you’re thinking your local track promoter is a greedy SOB, think again. Sure, they might hit a home run or two with a big event, but what about all that time in between those points. You know, those shows with a poor weather forecast? When the track gets 50 cars and the track has to pay the top end of purse with the $10 general admission ticket that 100 fans paid? The math simply doesn’t math. The sale of the track is often the only way for a promoter to recoup the losses and finally make a profit. (And they do deserve a profit — it’s a business, right?)
Does this mean all oval tracks are set to die? No, not at all. However, 411 Motor Speedway should serve as a sorely needed wake-up call.
So how can we make racetracks worth more than junkyards, truck stops, and developments?
Build a business model that makes sense.
Special races make money, for sure, but what you do in between them determines whether you stay afloat or go out of business. Charlotte Motor Speedway serves as a great example of this.
You might say, “Hey that’s a big NASCAR track with big NASCAR money behind it, what could that have anything in common with a Saturday-night short track?” Hear me out.
Yes, Charlotte has two NASCAR events, but ask one of the track execs and they’ll remind you they use that facility 364 days a year. Remember, even a NASCAR date can’t save a track. Just look at Kentucky Speedway.
Furthermore, who says a track only has to race cars? (The neighbors probably wouldn’t dig nonstop racing anyway.)
Think of the track as an event venue.
You got seats. You got concessions. You got a parking lot. Just add entertainment.
Concerts? Flea markets? Car shows?
Any short track should be able to accommodate that and then some.
In fact, a local speedway should serve as the community center. Most tracks are in rural areas, which means they should have the market on that. Sadly, most communities don’t even know there’s a track in their town. (That’s another story for another day.)
The more successful ovals serve as that place where one bonds among neighbors, connecting over a hot dog, a beverage, and racing. (Or maybe it’s a concert or a car show?)
Until promoters can monetize as many days of the year as possible with their property, ovals stand in danger of becoming something other than a track. After all, most businesses operate roughly 250 days a year, depending on how the weekends and holidays fall.
To run a short track more often requires a bigger time investment, though. Many promoters operate tracks on a part-time basis while they earn a living from some other means. This will also have to change. A full-time schedule requires a full-time commitment. Until short tracks are run more like businesses rather than hobbies or side hustles, more ovals stand to fall to things like development because, at the end of the day, it just makes more cents.
The Outside Groove Executive Editor has covered motorsports since 2000. His many awards include the 2019 Eastern Motorsport Press Association (EMPA) Jim Hunter Writer of the Year and the 2013 Russ Catlin Award for Excellence in Motorsports Journalism.
