Kentucky officials back move to aid Cup effort
By SceneDaily Staff
Tuesday, February 17, 2009
Kentucky Gov. Steve Beshear today voiced support for an amendment to the Kentucky Tourism Development Act to add a new category of so-called “legacy expansion” projects in an effort to help lure a NASCAR Sprint Cup race to Kentucky Speedway.
At a Capitol news conference, Gov. Beshear and the bill’s sponsor, House Majority Floor Leader Rocky Adkins, were joined by representatives of Speedway Motorsports Inc. to discuss the positive impact this legislation would have on the future of motorsports in Kentucky, according to a news release.
Bruton Smith, chairman and chief executive officer of SMI, owner of Kentucky Speedway, and Jerry Carroll, consultant to SMI, said that passage of the legislation would put Kentucky in position to host a race in the Cup series.
SMI purchased Kentucky Speedway for $78 million in a deal that closed in December. The track operators had previously filed a lawsuit in which they claimed that NASCAR, a privately held company that sanctions races and is owned by the France family, conspired with International Speedway Corp., a publicly traded company that owns race tracks and whose majority of stock is owned by the France family, to keep tracks such as Kentucky Speedway from getting Cup races. SMI later was named as a co-conspirator in the lawsuit. The suit is currently in U.S. Appeals Court, and NASCAR officials have said that they would not consider a realignment request to move a Cup date to Kentucky until that suit is concluded.
“The impact of a NASCAR Sprint Series Cup race for Kentucky is undeniable,” Gov. Beshear said Tuesday. “NASCAR is the number one spectator sport in the United States and is broadcast in more than 150 countries and 30 languages. I’m excited about the potential of Kentucky joining these ranks.”
Under the proposed legislation, legacy expansion projects must conduct events that are in the top league, series or sanctioned level of their type of event, provide permanent seating for 65,000 spectators and be broadcast nationally. The venue must have previously been approved for incentives and the expansion project must exceed $30 million and present one or more “premier events” not previously held in Kentucky.
“I am hopeful that this legislation will receive favorable consideration in light of the significant impact landing a NASCAR Sprint Cup Series race at the Kentucky Speedway would have on our economy,” Rep. Adkins said. “The governor and his staff are to be commended for pursuing this exciting opportunity for Kentucky.”
The legislation, which Rep. Adkins plans to file next Monday, would also expand the availability of time over which the tax credits can be taken for the original investments made and the significant expansion at the Kentucky Speedway.
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12 responses to "Kentucky officials back move to aid Cup effort". Post a Comment.
Ron Bleile said:
Feb 17, 2009 at 8:11 PMBruton Smith should have 1 race in Atlanta and 1 race in Kentucky.
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» Confirm Abuse Reportjohn arturi said:
Feb 17, 2009 at 9:43 PMI agree Ron
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» Confirm Abuse ReportGraceann Jackson said:
Feb 17, 2009 at 9:49 PMKentucky has a good track.
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» Confirm Abuse ReportJJ Emory said:
Feb 17, 2009 at 10:51 PMMove the date from the California road course to Kentucky and move the date from Watkins Glen to Kansas.
Report as AbuseSMI is happy and ISC is happy.
Nascar needs to take the next step in cost cutting measures and rid itself of theses road courses all together.
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» Confirm Abuse ReportHoward Englishman said:
Feb 18, 2009 at 9:41 AMPlus they have an Outback Steakhouse inside
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» Confirm Abuse Reportmike stalling said:
Feb 18, 2009 at 2:39 PMsorry jj. the road courses are a lot of fun to watch. why dont they get rid of calif. speedway? never sell out anyway, plus the racing is boring.
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» Confirm Abuse Reportjames Smith said:
Feb 18, 2009 at 3:49 PMThere needs to only be one race in PHX also.
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» Confirm Abuse ReportGeorgia Ross said:
Feb 18, 2009 at 6:08 PMPLEASE...take the Phoenix April race...
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» Confirm Abuse ReportWerner Boehmert said:
Feb 18, 2009 at 7:42 PMthe race CA is ok...i watch the 1t 20 laps and then i take in a good nap and wake up to watch the last 20 laps...it's a great race...
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» Confirm Abuse Reportteresa beachler said:
Feb 18, 2009 at 7:57 PMThe race has to come from a SMI track, which means that the spring Atlanta race will go.
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» Confirm Abuse ReportSheila Hawley said:
Feb 18, 2009 at 9:38 PMHow about we get rid of the second California race at Auto Club? And give it to Kentucky. They don't sell out. And no one wanted that second race any way.
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» Confirm Abuse ReportHoward Englishman said:
Feb 19, 2009 at 9:59 AMThe race has to come from either New Hampshire, Atlanta,, or Sears Point. They are the only three tracks that they can take a date from. California and Phoenix are owned by ISC.
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