Inside SMI’s $30,000,000 bond proposal to bring NASCAR back to Fairgrounds Speedway, Nashville

A new agreement has been signed between Nashville Mayor Freddie O'Connell and Speedway Motorsports to renovate NASCAR's old Nashville home at Fairgrounds Speedway. This deal includes a massive $30 million bond and a host of clauses for the race to join the premier stock car racing scene again.

The Fairgrounds Speedway is a 0.596-mile oval that was the venue for Cup Series races between 1959 to 84. Since then, the premier stock car series has not had a single event at the track, despite the Xfinity Series and the Truck series venturing to the track till 2000.

The Speedway Motorsports-owned track has not been connected to a return since then, but this recent deal marks a major revelation, according to FOX 17. The agreement includes the construction of a new grandstand to boost seating capacity, along with the requirement to host one NASCAR race every two years.

Though this agreement has gotten approval from the Mayor of Nashville, NASCAR insider Bob Pockrass shared that this decision has to undergo multiple rounds in the Metro City Council, so it would take a little longer before the Fairgrounds Speedway could have a chance of getting back on the calendar:

"While this has backing from the mayor, it still needs to get through the Metro city council, where it needs approval in three separate readings. So a big step but still more to go."

Bob Pockrass

@bobpockrass

While this has backing from the mayor, it still needs to get through the Metro city council, where it needs approval in three separate readings. So a big step but still more to go.

On the other hand, this posed questions about Nashville Superspeedway's fixture in the calendar, which Pockrass stated would not be affected:

"Not necessarily. Speedway Motorsports owns Nashville Superspeedway and have the contract to run the Fairgrounds. The tracks are so different, I wouldn't rule out going to both during a year."

Bob Pockrass

@bobpockrass

Not necessarily. Speedway Motorsports owns Nashville Superspeedway and have the contract to run the Fairgrounds. The tracks are so different, I wouldn't rule out going to both during a year.

Moreover, these renovations are slated to be completed by 2027 as per the initial plan.

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Do NASCAR drivers want the Fairgrounds Speedway to make a return on the NASCAR calendar?

Kyle Busch (L) and Chase Elliott (R) at the 2022 NASCAR: Ally 400 - Source: Imagn

The current field of drivers in the Cup Series has not driven at the Fairgrounds Speedway under NASCAR's three national series. Moreover, a new track joining the calendar leads to a host of reactions from the full-time drivers.

So, when the question was asked in 2023, Chase Elliott gave his vote for the track to make a return, as he told Frontstretch:

"Obviously I’m on one side of the fence. In fairness, I probably don’t see the whole picture, but I see a great opportunity for our sport to go and shine at a place that can never be recreated."

Meanwhile, Kyle Busch had a skeptical stance:

"Yes and no. I think it kind of depends. With the city and the support and everything else, if you can get a full house here and a full house there, sure. But as soon as you see one suffering because of the other, I think that’s when you got to look at things."

On the other hand, there are 36 races scheduled to take place for the Cup Series in 2026, apart from the All-Star races and Duels.