NASCAR’s White Elephant

The cost for ISC to build a 3/4-mile 80,000 seat race track in Staten Island, NY is estimated to be $600 million, making it the most expensive race track in the world. However, at just 3/4 of a mile in length and able to seat just 80,000, the chance for ISC to ever recoup their $600 million investment is slim to none. By comparison, Speedway Motorsports built Texas Motor Speedway for $250 million but that facility seats twice the number of spectators. So why would the France family build a track that can't hope to turn a profit for over 25 years? In the coming TV negotiations "having a New York City track would be a big plus," Marcus Smith, son of Bruton Smith, said. "But if we didn't have it, I don't think it would hinder us. NASCAR has shown we've got a great growth model; our ratings are steadily increasing. And, compared to all the other properties out there, that's a great story to tell to the networks." Mark C.