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Fairgrounds deal inches forward, not done




Artist rendering of the proposed remodeled Fairgrounds Speedway. (Perkins Eastman for SMI)

The Metro Nashville Fair Board Tuesday voted its approval of a takeover of Fairgrounds Speedway by Speedway Motorsports Inc. (SMI) – a move that has major implications for drivers and fans in Wilson County and the surrounding area – but that doesn’t mean the green flag will be waving any time soon.

The deal still has to be approved by the Metro Council, which recently sued the state over a down-size mandate. Until the issue is settled and the Council knows how many members it has and who they are, any action is unlikely.
In other words, says Lebanon race team owner Scott Fetcho, “not much has changed” since the tentative deal was announced 16 months ago.

“It still has to be approved by the Council, just like from the start.”

All that’s known for sure is that Track Enterprises will continue to operate the track this year, starting with the April l season opener. The Illinois-based company four years ago added the Speedway to the tracks it leases and manages.

“I think they’ve done a good job,” says Fetcho, a former driver whose son Dylan is a defending and two-time Fairgrounds champion.

SMI, however, would take the track to a higher level, adding it to a racing empire that includes several of the sport’s premier tracks, including ones in Las Vegas, Charlotte, Texas and Atlanta.

Bristol Motor Speedway – the state’s largest sports venue – also is an SMI track, and under the Fairgrounds proposal Bristol would provide a management team to run the Nashville track.

An “agreement in principle” was announced in November 2021 between SMI CEO Marcus Smith and Nashville mayor John Cooper. SMI would be granted a 30-year lease for $1 million a year and generate millions more in projected tourism revenue. SMI would also invest millions in track upgrades and renovations.

SMI’s ultimate goal is to bring NASCAR Cup Series racing back to the track, which used to host two national races annually.

Auto racing has been held at the Fairgrounds since 1904. In 1958 the current track was opened and became one of the most prominent in the country.

A neighborhood group opposes the SMI takeover, citing increased noise and traffic, but as has been pointed out, anyone who moved there since 1904 knew they were moving next to a racetrack.

NASCAR terminated Nashville’s two annual Cup races in 1984 due to management issues, and the track has struggled ever since. At one point it was on the verge of demolition.

Mt. Juliet racer Bennie Hamlett, who is entering his 35th season at the Fairgrounds, believes the SMI deal is the track’s best – and perhaps last – hope for survival.

“SMI has unlimited resources and can make the long-term improvements that are necessary,” he said.

SMI owns Nashville Superspeedway in Gladeville, and adding Fairgrounds Speedway to the fold would not create a conflict, says Matt Grecci, the Superspeedway vice president and general manager.

“It would grow and enhance the sport throughout Middle Tennessee,” he said, “and that’s beneficial for everybody.”