NASCAR providing tracks some financial relief by lowering fee paid to host races

NASCAR giving tracks some relief in tough economy

DAYTONA BEACH, Fla. — NASCAR has alleviated some of the financial strain on racetracks during the rough economic climate.

The sanctioning body lowered the fee it charges to hold NASCAR races, and the trickle down affects nearly every aspect of events. The reduction should allow track owners to reduce ticket prices and lower various fees associated with holding a race.

It also will affect prize money, which is largely determined by track profit. High-profile tracks like Daytona, Texas and Indianapolis pay a much higher sanctioning fee to NASCAR than smaller venues like Dover, Darlington and Martinsville — and the purses reflect that.

Tracks have suffered during the tough economy because of declining attendance and less money from sponsors.

“Last year we launched an industrywide effort to help the sport manage budgets in this economy,” NASCAR spokesman Ramsey Poston said Friday. “NASCAR did the right thing to work with the tracks to reduce their costs in order to manage the economic realities.

“In return, the tracks have done a great job reducing ticket prices and enhancing the fan experience. Likewise, we worked with the teams to contain costs such as elimination of testing and other steps. This is consistent with how virtually every sport and business has adjusted to the economy over the past year.”