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SBD/February 22, 2013/NASCAR Season Preview
Daytona Speedway Renovations To Include Expansive Concourses, Large Concession Areas
Published February 22, 2013
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LEGISLATION BEING FILED NEXT WEEK: The track next week will file legislation with Florida’s state government saying that if it spends $250M, it will gain some tax rebates that other sports teams get in the state. He declined to say how much money the track would recoup if the state legislature approved the public-private partnership. The Florida senate recently reviewed a bill that would give the Dolphins an annual sales tax rebate of $3M a year to help the club cover a proposed $400M Sun Life Stadium renovation. Chitwood described a similar public-private partnership, adding that state support would bolster his business case to ISC senior management. Chitwood: “Without that, senior management might say, ‘We’re not ready for this.’ I think that public-private partnership makes a lot of sense.” Chitwood said if DIS can get senior management approval later this year, the construction will be a multiyear process, and the track will work around its race schedule throughout the renovation. He added if they go ahead with the renovation, the track would explore bringing other events to the facility such as EPL matches.