NASCAR’s $50-Million Investment Goes to Waste as the Latest Addition to the Calendar Will Not Turn a Profit

NASCAR is expecting about 50,000 people per day to attend the Chicago Street Race event, which features both Xfinity and Cup Series races, as well as performances by The Chainsmokers and Miranda Lambert. The event has been marketed as a “two-day racing and music festival,” with a new admissions-focused ad set to air starting this weekend.

However, according to a recent report from Sports Business Journal, NASCAR’s $50-million investment in the Chicago street race may not pay off as expected.

The event, scheduled for July 1–2, is part of NASCAR’s efforts to reinvent itself by racing in city centers. However, despite spending more than what it did to set up the Busch Light Clash, NASCAR is not projected to turn a profit in the first year.

Read More: NASCAR Reportedly in Talks to Race on Street Tracks Starting With Chicago

Fans’ reactions to the news have been mixed, with some expressing disappointment in the expected turnout.

What are NASCAR fans thinking about the Chicago Street Race?

One of the followers of the sport pointed out that Road America had 100,000 people show up for a recent event, suggesting that NASCAR may have miscalculated its projections for the Chicago race. Others expressed concern about the high cost of admission.

This raises the question: What went wrong? Was it simply a case of poor marketing, or did NASCAR misread the demand for city-center racing? One thing is for sure, the $50-million investment made by NASCAR to set up the race seems to have gone to waste according to fans.

Despite these concerns, NASCAR officials remain optimistic about the event. President Julie Giese has been leading efforts to sell sponsorship positions and reach out to community groups and local institutions to establish partnerships. Giese and her team have been working on scheduling construction and deconstruction of the circuit, as well as developing plans with NBC Sports and teams.

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While the Chicago Street Race may not be a guaranteed success, it represents a bold new chapter in NASCAR’s history. As the sport continues to evolve and adapt to changing market conditions, events like the Chicago race will be critical in attracting new fans and keeping existing ones engaged. Only time will tell whether NASCAR’s investment in the event will pay off, but for now, fans and officials alike are eagerly anticipating the big race in July.