Billionaire Bruton Smith cries foul

Bruton Smith is said to have so much money he couldn't spend it all if he tried.

Lowe's Motor Speedway owner Bruton Smith lashed out again at Concord and Cabarrus officials Monday, saying he no longer trusts them and that someone is trying to undo his $80 million incentives deal.

The billionaire also said his lawyers are looking into potential fraud, but he declined to elaborate.

Smith insisted that the deal means his company must be compensated within two to three years for fronting the cost of major road upgrades around the Concord track.

But about three weeks ago, local officials said it could take up to 40 years to pay back most of those costs.

Smith, 81, said that timetable had not been discussed before. Anyone who says otherwise, he said, “is a liar and a cheat."

“I'm being the victim all over again," he said Monday. “Somebody in Concord is trying to undo what they agreed to … We're not going to remotely consider anything other than two to three years."

He said he can't move the track – which he threatened to do last year following the initial feud with city officials – but he could take other steps, which he declined to discuss. More at Charlotte Observer