LVCVA special meeting to discuss sponsoring 2nd NASCAR race for Las Vegas
LAS VEGAS (KSNV News3LV) —
NASCAR expansion (6P) 03072017
A second NASCAR race date is in the works for Las Vegas Motor Speedway.
The Las Vegas Convention and Visitors Authority's board of directors has scheduled a special meeting Wednesday to discuss a race sponsorship agreement with Las Vegas Motor Speedway about adding a second NASCAR race for the fall.
The meeting is scheduled for 2 p.m. Wednesday at Cashman Center. Representatives from the Speedway and LVCVA announced a joint news conference for 2:30 p.m. outside the Cashman Center.
The deal would be for $2.5 million a year for seven years with the option of extending the deal three years, according to the LVCVA agenda.
Current Cup tracks are in the second year of five-year sanctioning agreements with NASCAR, but Speedway Motorsports Inc. can cut any deal it wants to move a race. It could move an event from its current collection of tracks, or could try to deal with a property outside of its portfolio.
SMI owns Las Vegas, Atlanta, Bristol, Charlotte, Kentucky, Texas, New Hampshire and Sonoma. International Speedway Corp. owns 12 tracks that host Cup races, while Dover, Pocono and Indianapolis are separately owned.
The LVCVA says last year’s race brought more than 96,000 out-of-town visitors to the area, and the race had an overall economic impact of more than $139 million.
NASCAR’s top series, now called the Monster Energy NASCAR Cup Series, has competed in Las Vegas since 1998.
The Associated Press contributed to this report.