Menu
Download the app

SBJ subscribers – Enhance your experience with the revamped iOS app

Events and Attractions

NASCAR hall deficits twice as high as expected

Deficits at the NASCAR Hall of Fame are twice as high as anticipated through the first half of the current fiscal year.

Those results were disclosed last week by the Charlotte Regional Visitors Authority, operator of the city-owned racing museum. For the six months covering July through December, the hall of fame posted a deficit of $440,000, compared with the budgeted figure of $205,000. In December, the most recent month of financial data available, losses were slightly higher than expected, with an actual deficit of $172,000, compared with the anticipated $149,000.

The $200 million hall of fame opened in May 2010. During its first full fiscal year, the venue lost $1.5 million versus a projected profit of $800,000.

Its second fiscal year began July 1, 2011. Between July and December, attendance totaled 101,624, down 26 percent from the previous year.

Executives at the visitors authority have promised to deliver revamped plans and strategies later this year to improve the hall of fame’s financial performance. The deficits would be even worse if $327,000 in taxpayer subsidies for maintenance, repair and other costs were excluded from the results. That money comes from a dedicated hotel tax that helps pay for the cost of building the hall of fame.

Recent efforts to improve revenue and attendance include reduced ticket prices for area residents.

During December, attendance was 15,428, dipping from 16,136 a year ago. That slight decline marks the best comparison for the hall of fame in the eight months of available year-to-year monthly results.

Eric Spanberg writes for the Charlotte Business Journal, an affiliated publication.

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Journal/Issues/2012/02/13/Events-and-Attractions/NASCAR-hall.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Journal/Issues/2012/02/13/Events-and-Attractions/NASCAR-hall.aspx

CLOSE