Thats one of the karting tracks?
Track Venues
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Thats one of the karting tracks?
Track Venues
where is this press conference?
I doubt he elaborated what sort of improvements hes thinking, Nascar or the road course or anything?
if he is moving a nascar date ... i don't know if improvements would mean for the oval track ... why if there is only one race there a year
who knows though ... we won't know until he actually start doing things ... but like reports have said, 2008 nascar schedule is out and tickets are being sold, so I doubt anything will happen in 2008.
I just dont get the whole economics of this situation though, he spent a fortune for a track, and cutting a date out. Can he make up that difference by having a race somewhere else? I would assume hes not gonna spend that money and essentially shut down the dates. As mention by Degsy I think earlier, Nascar is 1 weekend a year, and theres 365 days worth of bills. So I would think hed at least accept the income we pay. But I dunno what these people with too much money are thinking.
We have a winner. I'd gamble that by 2010, NHMS (or more familiar NHIS, as it was) will no longer be in existance. They stand to make far more money moving each of the two NH races to any 4 of their other 6 tracks. Basically bought 'em out to eventually shut 'em down - is what folk in the know up here be sayin'. Years ago, Baher screwed this very guy to get HIS current two 'Cup races up here. Years later, he goes and sells it to him for $340 MILLION in CASH? Enjoy it while it's still up & running folk. Not tryin' to piss on anyone's shoes, but that's how many around here see it...
I'm not optimistic either. One theory I've heard from NASCAR people who follow him is that he'll either pull one race in 2009 to Vegas and then try to sell NHIS (with the one NASCAR race) to John Henry or someone else...OR...after he pulls the one NASCAR race, allow NHIS to fall into disrepair to justify shutting it down. I don't know if NASCAR would allow that to happen and risk upsetting what appears to be a strong New England car contingent, but who knows? Either way, it does not sound as though he cares much for motorcycles unless it will make him some serious money.
I'm moving
Maybe he'll get rid of nascar and everyone from LRRS can chip in to buy it for a few grand
That is not likely to be true, Legends cars, WKA and SCCA all run road courses,and Bruton loves Legends and the WKA is based in the Lowes Speedway. I would not look for big changes to the road course, but I'm sure there will be new garages, many more and much improved suites, possibly a shorter more steeply banked oval, a 1/4 mile in front of the stands, and much better fan amenities.
SMI has a history of making major improvements to Speedways that it purchases and has a Cup event. Bruton likes to have the best and it shows in his LVMS facility. It looks like he will move Lowes to a plot some where near Charlotte and spend about $350-400 million to have the best rather than rebuild the old Lowes in a town where he feels he's not wanted.
Personally I think that one of the NNCS events will end up in LVMS and one will stay at NHMS with a major face lift and up grade in infrastructure. Many of the NNCS venues have only one race per year and do just fine. How ever LVMS can sell more tickets than NHMS and has the potential for much more corporate sponsorship. If you think ticket sales drive the sport, your wrong. It's the corporate sponsorship and corporate entertainment that drive it.
"I just dont get the whole economics of this situation though, he spent a fortune for a track, and cutting a date out. Can he make up that difference by having a race somewhere else? I would assume hes not gonna spend that money and essentially shut down the dates. As mention by Degsy I think earlier, Nascar is 1 weekend a year, and theres 365 days worth of bills. So I would think hed at least accept the income we pay. But I dunno what these people with too much money are thinking."-Pittenger5
Nothing personal here just a statement of fact, but your quote sums up why you (meaning those who do not deal with large sums of money) never will understand, and never will have large sums of money. The economics of big business have never made sense to employees or small businessmen, which is why thtey are employees and small businessmen.
Well mainly what I meant, and yes, I'm an employee in the world of small business and dont try to claim otherwise, is if you DO own something, and you DO have bills to pay wouldnt you take any sort of income? And now that I realize it, a few (relative) dollars here and there for him is like pocket change to us.
But maybe someone that has more knowledge of the finances here can help me out. How much does the road course type of the thing cost in upkeep? Now how much income comes in from all the road course users, us, cars, whatever. If its like I ASSUME it is, the upkeep isnt a whole lot, and we bring in a good chunk of money. Like I say, thats coming from my mouth where a couple grand is a large sum of money. Maybe that difference is nothing to him and that makes my entire point moot.
Ehh nevermind. I know what point I was trying to make, but couldnt properly express it. But I guess the whole situation is pocket change for someone as rich as him. I just hope we keep racing at Loudon for a while. I dont wanna hafta move.
eee.. who cares about Nascar anyway.... just leaves more days for track days, itsnot like they can pick up that track and move it somewheres else
Some times it's not about the cash flow, but asset management. Having an asset that can't generate maximum revenue full time is not uncommon. Just look at any sports venue. Does Fenway Park host little league games in the off season? no. Does Gillette Stadium host Pop Warner games? No. They use the facility for other revenue streams. MLS games, Rock concerts, corporate entertainment, etc. No good businessman will say no any income stream that generates a reasonable income vs. the expenses. NHMS currently hosts Modifieds, Busch North, and other events including LRRS. He may bring in the truck series or even open wheel racing (if there is any thing left....). The problem with just taking any income is that you set the bar for your pricing based on current use.
For example, there was an empty strip mall a mile or so from me. It sat empty for 5 years that I drove by on my way to work, and who knows how many before that. The owner wanted to rent it at a certain rate per square foot, triple net. There was room for a dozen or so small businesses and two or three large grocery type stores. Some one asked me one day why they did not get any business at any price just to help with the property tax bill? It's because if the owner had lowered his price per foot, then that becomes the going rate for future tenants. So it was better to just suck it up and pay the taxes with out tenants then to put in a discounted rate tenet and lower the value of the entire structure.
I wouldn't get all worked up about it. California Speedway struggles to fill their stands 50% when nascar is in town. NHIS sells out at over 100k. No one would walk away from a market that strong. The state of NH, and Loudon, should be as accomodating as they can with this. I see a nice opportunity here. What did Bahre do for the track? Even if our road course doesn't change, you may see some nice amenities added...and maybe the flooding will go away!
Ok Peter, I get what youre saying. Thanks for the clarification. I will admit in my current financial sitation any money I can get certainly is nice, I wouldnt turn just about anything down. I can see from their point of view.
But on the other hand, for NHIS, assuming theres a decent amount of income vs upkeep why youd turn away a number of events, LRRS, cars, that sort of thing. There doesnt seem to be a whole lot of other oppurtunities to go there that we're driving the price down. If it costs LRRS 50 bucks a weekend, does that allow Nascar to say they're only paying this much, we want to lower our rate? I just dont see how much negotiating value they can get comparing them to us.
i think the idea is to remove a NASCAR date and SWAP a date so that the chase will begin at LVMS instead of NHIS.
im also willing to bet that "improvements" will mean more grandstands since there are none from the tunnel to NASCAR T3. which may or may not mean no more road course. but with that said it may also mean a new roadcourse somewhere else on the property since there is an emmense amount of acreage that doesnt get used except for parking during NASCAR.
JM .02
News
News conference.