Some details of deal to keep speedway in Concord revealed
Tuesday, November 27th, 2007
By Chris Fitzsimon
By Eric C. Deines
edeines@independenttribune.com
Tuesday, November 27, 2007
CONCORD - Using $80 million from local and state governments and $200 million of his own money, Lowe’s Motor Speedway owner Bruton Smith said he will make the Concord track the world’s premiere racing facility.
However, only a handful of the projects included in the major improvements were discussed at a news conference Monday to celebrate Smith’s agreement with Concord and Cabarrus County to keep the speedway in Concord.
Smith’s decision - announced last week - comes after nearly two months of uncertainty as to whether or not Smith would move the track when he and the city clashed on his plans to build a $60 million drag strip at the speedway.
On Monday, Smith, CEO of Speedway Motorsports, said there were no hard feelings on the matter.
“Mayor, I’ll tell you, we’re here forever,” Smith assured Concord Mayor Scott Padgett midway through the meeting. “It’s going to be onward and upward.”
Smith said work resumed today on the drag strip, and that it will be completed for a National Hot Rod Association event in Sept. 2008. more…
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