NASCAR giving tracks some relief in tough economy
January 29, 2010
DAYTONA BEACH, Fla. (AP)—NASCAR has alleviated some of the financial strain on racetracks during the rough economic climate.
The sanctioning body has 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.
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