Apr 27, 2013, 1:00 PM EDT
A bill that would help fund improvements to the legendary Indianapolis Motor Speedway has been approved by the Indiana General Assembly and is now heading for the desk of Gov. Mike Pence.
House Bill 1544, which has passed through the Indiana House and Senate, calls for the creation of an Indiana Motorsports Investment District that will capture sales and income taxes at the commercial property that includes IMS, which will then go toward future investment in the Speedway.
According to the legislation, the track will receive a loan from the state of Indiana for up to $5 million per year for 20 years to complete upgrade projects, and the loan will be repaid through expected increases in income and sales tax collections at IMS — which will kick in $2 million a year over 20 years ($40 million total) themselves toward the improvements.
“We appreciate the hard work done by state lawmakers to ensure Indiana remains the worldwide leader in motorsports,” Indianapolis Motor Speedway Corporation president/CEO Jeff Belskus said in a statement. “This legislation will allow us to make transformative improvements to our 104-year-old facility over the next several years that will greatly enhance the fan experience.”
In addition, the bill also creates a special fund for motorsports-based businesses in Indiana to apply for loans that can help them improve their own facilities. The state will provide up to an additional $5 million annually to the fund, which will be run by the Indiana Economic Development Corporation.
The legislation was introduced into the Indiana General Assembly in February. A Feb. 8 press release from IMS stated potential projects that could occur thanks to the legislation, such as the installation of lights, adding high-definition video boards, and seating and restroom upgrades.
Aug 27, 2014, 11:03 PM EDT
It’s pretty simple and straight-forward what Jamie McMurray must do in the next two races if he has any hope of making this year’s expanded 16-driver field for the Chase for the Sprint Cup.
Aug 27, 2014, 6:19 PM EDT
On Wednesday’s edition of NASCAR America, Jeff Burton spoke with Rick Allen and Frank Stoddard about the spectacle of racing at Bristol and just how difficult Joey Logano’s victory at the half-mile oval was.
Aug 27, 2014, 6:11 PM EDT
NASCAR driver jeff Burton says there has been no word yet from Tony Stewart on whether the latter will return to the No. 14 Stewart-Haas Racing Chevrolet this weekend at Atlanta after missing the last three races due to the Kevin Ward Jr. tragedy, but it could be a last-minute decision.
Aug 27, 2014, 5:00 PM EDT
The NASCAR Camping World Truck Series’ Turner Scott Motorsports team was reportedly set to close; however, that appears to have changed.
WATCH LIVE: NASCAR AMERICA at 5 pm ET — Burton on replacing Stewart, Logano’s Bristol win, Atlanta look ahead
Aug 27, 2014, 4:11 PM EDT
Wednesday’s edition of NASCAR America will be chock full of looking back at Saturday’s race at Bristol, as well as starting our lookahead over the next three days for this Sunday’s night race at Atlanta.
Aug 27, 2014, 4:00 PM EDT
IndyCar will formally confirm the addition of New Orleans to its 2015 schedule later Wednesday.
Aug 27, 2014, 3:00 PM EDT
NASCAR Trucks race at Canadian Tire Motorsport Park this weekend. Will they be able to match up with the 2013 edition?
Aug 27, 2014, 2:30 PM EDT
Skeleton Bronze medalist Matt Antoine goes for two-seater ride with Arie Luyendyk in Milwaukee.
Aug 27, 2014, 1:45 PM EDT
Scott Hargrove looks to secure Porsche GT3 Canada title while his season-long rival in both Porsche and Pro Mazda, Spencer Pigot, looks to play spoiler.
Aug 27, 2014, 1:00 PM EDT
Jeff Gordon will make his 750th Sprint Cup start at Atlanta this weekend, the site of his first in 1992, and also the site of another record he’ll hit next year.
Aug 27, 2014, 12:30 PM EDT
Sebastian Vettel’s getting a new chassis for Monza, and a new engineer for 2015 at Red Bull.
Aug 27, 2014, 11:51 AM EDT
With Fontana this weekend, we take a look back at Gil de Ferran’s closed course speed record in 2000.
Aug 27, 2014, 11:24 AM EDT
Promotional poster for the COTA FIA WEC event features some rather bizarre car choices to promote the race.
Aug 27, 2014, 1:23 AM EDT
MotorSportsTalk sorts out fact from fiction regarding the yet-to-be-revealed 2015 Verizon IndyCar Series schedule, based on hints from today’s NASCAR schedule release.
Aug 26, 2014, 10:41 PM EDT
NASCAR star Kevin Harvick has never been afraid to speak his mind. But the Tony Stewart/Kevin Ward Jr. tragedy has caused him to be more judicious in what he says and also “frustrated” at how the media has dealt with the entire incident.
Aug 26, 2014, 8:51 PM EDT
The long-awaited release of the 2015 NASCAR Sprint Cup schedule was much less of the surprise many expected. And there’s absolutely nothing wrong with that.
Aug 26, 2014, 8:00 PM EDT
Brad Keselowski won his first Camping World Truck Series race last Thursday at Bristol, but his and two other teams have been dinged by NASCAR after their Trucks failed post-race height requirements.
Aug 26, 2014, 7:06 PM EDT
Steve O’Donnell, NASCAR’s executive vice president of racing operations, explains the factors that influence how the final racing schedule is created.
Aug 26, 2014, 6:21 PM EDT
The NASCAR AMERICA crew make their initial observations of the 2015 Sprint Cup docket (Hint: They’re really happy about Darlington returning to Labor Day weekend).
Aug 26, 2014, 5:01 PM EDT
NBC Sports Group begins its 2015 NASCAR race coverage on July 4th (Nationwide) and 5th (Sprint Cup) from Daytona International Speedway.
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