Dale Earnhardt Jr’s $116 Million NASCAR Fantasy Hits Snag as Red Tape and Public Objection Pose as Roadblocks

NASCAR is witnessing an unprecedented growth spurt. There have been sustained efforts by the organization to expand its outreach. “Just going left in circles at high speeds”—as many critics of NASCAR never fail to point out—is attracting new fans. At this crucial inflection point, as it battles Formula 1 for superiority in the USA, the sport and Dale Earnhardt Jr are left battling a section of people who don’t want to see the sport grow.

The Nashville Fairgrounds Speedway is a historic race track for NASCAR. First opened in 1904, the track has seen some of the biggest names like Richard Petty and Darrel Waltrip blaze past the checkered flag. But the track has been in dire need of renovation—a touch of modernity to allow the historic track to regain its significance and glory. Dale Earnhardt Jr has been one of the biggest names working toward its revival.

Unfortunately, though, there’s a lot to be done. The track requires repaving and increasing the capacity of the grandstand from 12,000 to 30,000 in compliance with the Disabilities Act. And the expenditure to carry it all out? Massive!

What stands between Dale Earnhardt Jr and Nashville’s revival?

There can be no better explanation of Dale Jr’s love for Nashville than the statement he made last year, “If they run Xfinity Series here, I’ll be here. I’ll run once a year. I’ll probably do that as long as I can and there should be a few more years of that. Hopefully we can get the Xfinity here soon; the next couple of years because I’d love to come out here and compete.”

But the track has time and again come up against dogged opposition. A former member of the Fair Board said, “​​This proposal is currently so flawed with minimal protections for Nashville, and also how it threatens to bring … [the] big out-of-control downtown party into the heart of our neighborhoods.”

With respect to finance, the submitted proposal states, “The project is estimated at $116.3 million—$96 million in hard construction costs and $20.3 million in design and development and other costs.” Further, it adds, “It is estimated that the city would need to finance $97.26 million by bonds as the state has granted $17 million to the project and Bristol will put $2 million into the design phase.”

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In other words, there’s a dependence on 30-year tenor bonds and investment from Bristol—all of which would come into play only after the Metro Council provides its approval, which has been hard to come by. With the quarrel continuing, Nashville’s mayor said “You’re saying a slog for government work? That’s very fast for government… It will be a process.” 

The “process” has been a long one with nothing to show for it on the ground. One or the other party must relent; who do you think it should be?

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