After a blockbuster weekend at the Chicago Street Course, NASCAR sets its sights on Pocono Raceway. But, it’s the Grant Park vendors who are dealing with the aftermath of the event in Chicago city. Forced to shut down their business for up to two weeks because of NASCAR-related street closures, vendors just have days to cough up their due rent, even though promised buyout checks by the sanctioning body have not yet arrived.

The racing behemoth signed a $7.7 billion media rights deal with Fox, NBC, Amazon, and Warner Bros. that will take effect in 2025. As it stands, the racing series is poised to make the highest annual income from a media rights deal in history. Therefore, this delay in compensation by NASCAR is more bothering and could seriously affect their renewal chances in Chicago post-2025.

NASCAR event causes financial distress to local vendors in Chicago

According to an article in Book Club Chicago written by Melody Mercado, Grant Park vendors were already forced out of their locations at Buckingham Fountain up to two weeks before the NASCAR weekend, with no clarity over their compensation terms. For many, buyout terms were offered just three days before racing started at the venue. In some instances, NASCAR offered just a week’s worth of compensation, despite their businesses being shut for 14 days. Those who reached an agreement with NASCAR, are waiting for buyer checks, with pressure mounting on rent due for a period during which their business was not operational.

After a long while of communication to finalize buyout terms and payments before being forced to leave, vendors’ biggest complaint with NASCAR has been their lack of communication after the race weekend. Not being able to speak with NASCAR officials directly, and being forced to go through Union Consulting, who communicates with the Park District and then NASCAR has slowed down the process significantly.

According to Park District officials, six vendors from Grant Park will receive payouts for a period of seven to fourteen days worth of business lost, decided on a case-by-case basis. They also clarified that checks will be sent by the end of the month, but refused to respond if vendors will be compensated for being subjected to rent penalties due to delay in payments. As things stand, remnants of the NASCAR street race remain in and around Buckingham Fountain, and the area has barriers lined up in certain areas to stop traffic. The race may be over, but local businesses continue to be affected.

If there is a lesson to be learned from this, it’s that city leaders need to hold NASCAR responsible for the well-being of local businesses affected by the race weekend. Unlike the inaugural race in Chicago, there was less skepticism surrounding the event this time around. However, with just one year left on the contract, the city needs to discuss more favorable terms that cause fewer disruptions to businesses and Chicago residents in the future.

Chicago city leaders ask NASCAR to pony up more cash

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The future of stock car racing in Chicago will be dependent on NASCAR increasing its financial outlay. For downtown residents who live near the Grant Park race track, the second iteration of the race did nothing to change their views about the event. For many, their top concern is the time it takes to set up and take down the course, the noise during race weekend, traffic disruptions, and the financial loss for local businesses in the area.

According to Brian Hopkins, the alderman for Chicago’s second district, NASCAR will have to invest more money, particularly in the Grant Park district if they want to continue racing in the city after 2025. However, he believes that the concerns citizens have are unsolvable. “The problem we face is an unsolvable problem. There’s really no way to have this race and to satisfy the downtown residents losing access to Grant Park,” Hopkins said. “Downtown residents live for the summer months.”

For the first race in the city, NASCAR paid the Chicago Park District $500,000 as a permit fee, which rose to $550,000 in 2024, and will rise to $605,000 in 2025. The Park District was also paid a $2 royalty per admission ticket and a 15% commission on concessions. In comparison, Lollapalooza organizers paid $9.6 million in 2023 and generated a staggering $434 million for the local economy. “We really drove a hard bargain during the most recent contract with Lollapalooza and the difference speaks for itself,” Hopkins said. “But we rolled over for NASCAR.”

While there are clear benefits of NASCAR hosting its races in the city of Chicago, it’s undeniable that the sport needs to do more for the citizens in and around the area. As per the existing contract, NASCAR may request to extend its deal for 2026 and 2027 by writing a notice within 90 days following the prior event. However, if this needs to be a long-term solution, NASCAR and Chicago City need to find common ground with more equitable terms.

What are your thoughts about NASCAR’s future at the Chicago Street Course? Let us know in the comments!