NASCAR wants to host more Street Course Races in the future despite ‘zero profit’ from Chicago debut
The Chicago Street Race is one of the most ambitious projects from NASCAR since the Next-Gen car.
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NASCAR Chicago Street Race venue (Credits: @jeff_gluck/Twitter)
NASCAR’s SVP/Racing Development & Strategy, Ben Kennedy, has confirmed that the sport plans to host more Street Course races in the future. The first-ever Street Course Race in the sport’s history will be hosted this Sunday in Chicago, and while many experts predict a successful event, the success of the racing side remains uncertain.
Despite this uncertainty, NASCAR plans to host at least a couple of similar races in the future. The Next-Gen cars are made with Road Course Racing in mind, and if NASCAR can pull off a great race in Chicago on Saturday and Sunday, hosting similar races in the heart of other major cities in the state will help them in the long run to get more fans support.
While talking about the same to SBJ, Kennedy pointed out that the sanctioning body is planning to host a couple of such races in the future. He said, “By no means does that mean that we’re going to add a bunch of street races to the schedule, but having a couple on the schedule each year is something we’re thinking about.”
In terms of attracting new fans, the primary goal of NASCAR has been attracting new fans by hosting races in Chicago downtown. Recent reports confirmed that NASCAR has been successful in it as more than 70% percentage of the race attendees will be first-timers to NASCAR events. There is also a demography shift within the fan base as well.
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Is NASCAR Chicago Street Race a financial success?
The sanctioning body has reportedly spent $50 million to convert the normal city roads into the 2.2 miles 12-turned track. The revenue from approximately 50,000 visitors per day to the race and the $15 million they will get from NBC as part of the TV deal won’t help them balance the accounts as well.
Despite this, NASCAR is planning to suffer the loss as it can be converted into a long-term profit if they can secure proper fans. There is interest from other American cities to host street races in the sport, while NASCAR is still looking to have races in Chicago in 2024 and 25, as previously agreed.
“Our plan right now is to continue to plan for an event next year and commit to the three-year term. That was kind of our plan from the start. We’ll have a number of learnings coming out of this and will huddle (with city leaders) shortly afterward, but everything we’ve been thinking about so far is to stay on that length. I always appreciate when people reach out with new ideas,” Kennedy said.
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Justin P Joy
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