When Speedway Motorsports CEO Bruton Smith spoke about his company’s new acquisition of Kentucky Motor Speedway six weeks ago, he sounded very enthusiastic about consumer demand drawing a major racing event to his new facility.
“We are extremely excited about the new opportunities this market is going to bring the company,” said Smith. “Since we announced this acquisition in May, we have been overwhelmed with the response of fans expressing their support and desire for a Sprint Cup event at Kentucky Speedway.”
“We will continue to work with NASCAR to bring a Sprint Cup race to this fine facility as soon as possible. We are going to do everything we can to bring the great people of Kentucky what they want and deserve.”
That was on December 31, 2008.
What a difference six weeks makes. Today, Smith met with Gov. Steve Beshear in Frankfort and now it seems the Sprint Cup race can’t happen without tens of millions of taxpayer dollars and proposed legislation expected to be filed Monday.
From Gov. Beshear’s press release:
“Bruton Smith, chairman and CEO of Speedway Motorsports, Inc., owner of Kentucky Speedway, and Jerry Carroll, consultant to Speedway Motorsports, Inc. said today that passage of this legislation would put Kentucky in position to host the NASCAR Sprint Cup Series, that sanctioning body’s top racing series.”
“”The impact of a NASCAR Sprint Series Cup race for Kentucky is undeniable,” Gov. Beshear said. “NASCAR is the number one spectator sport in the United States and is broadcast in more than 150 countries and 30 languages. I’m excited about the potential of Kentucky joining these ranks.””
Sounds like a lot of money for taxpayers to spend for politicians to get photo-ops and for one business to complete an expansion it would likely do by itself without our money.
If our corporate taxes are too high, Gov. Beshear, why not just cut them for everyone instead of picking and choosing?