IndyCar, Nashville Group Making Progress On Street Race

Roger Penske and Mark Miles led a group of IndyCar execs traveling to Nashville on Thursday to meet with Music City Grand Prix (MCGP) organizers, and the sides say they agreed to work toward finalizing a deal for a new street race.

Event organizers -- including MCGP COO Jason Rittenberry, former Predators exec Chris Parker and FullCircle Ventures President Matt Crews -- have been working to bring a race to the city for years after a similar effort failed in 2017, though the group has since changed some of its leadership. Talks were revived in recent months, and the sides agreed to meet in person this week to go over the logistics of the venue layout, among other aspects of a prospective deal.

The race would likely get an August 2021 slot if finalized, and Penske told Racer.com this week that the MCGP would include stretches along the Cumberland River, with the Titans’ Nissan Stadium also involved. Street races are typically complex, pricey ventures that cost millions of dollars to set up and require close governmental cooperation. It is not yet clear how MCGP organizers plan to finance the event, but like all races, it will work with sponsors to defray costs. IndyCar also charges an annual hosting fee, which is typically low seven figures for street races.

Both sides in a statement to SBJ and the Nashville Business Journal said: “We collectively agreed to work toward finalizing an agreement to bring an urban racing festival to Nashville. … To be clear this process is not finalized. … MCGP has been very deliberate in our planning, particularly in light of the evolving challenges that COVID-19 has presented. … We look forward to sharing more information once agreements are fully completed.”

While the sides are not yet saying the deal is finalized, they do appear to be cautiously optimistic a deal will get done for 2021. Nashville Convention &  Visitors Corp. President & CEO Butch Spyridon told WTVF-CBS this week: "We are really close. If you asked me to bet on it, I would bet we land it."

IndyCar currently holds street race events in St. Petersburg, Long Beach and Toronto. SBJ first reported in June that the MCGP was in the works again.