What’s up with the Nashville race track? The Banner Has The Answers – TNJTNJ

(Image credit: Fairgrounds Speedway)

When Nashville Mayor John Cooper first proposed to overhaul the Fairgrounds Speedway in Nashville, the project was supposed to require the city to back $50 million in revenue bonds. After a series of delays, inflation and rising construction costs have now doubled that figure. So, is the rehabilitation of the historic NASCAR site underway? Not enough. Here is what that of the banner Steve Cavendish writes in a deep dive today:

Several sources close to the negotiations claim that the agreement has been concluded at “95%” for a year. A press release from Cooper in December 2020 anticipated NASCAR racing as early as this year. In March 2021, Metro signed a letter of intent with BMS to reach an agreement on the fairgrounds, and Cooper said: “I look forward to working with the Fair Board and the Metro Council in the months to come. to strike a deal “to bring support for high-level racing at no cost to taxpayers.

An announcement was made at the 2021 NASCAR banquet last December that the two sides had agreed to a financial framework. .

“This administration has a case of slowing down,” a source said. Another called it a “laborious, hand-twisting group of labor”. Cooper supporters say it’s important to get the right deal, not the fastest.

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