Speedway Motorsports Says Faster Please
Speedway Motorsports mogul Bruton Smith is at sharp odds with Concord and Cabarrus County officials over a proposed incentive package. New details of the negotiation were revealed today. Concord and Cabarrus County have offered to reimburse Bruton Smith for 60-million dollars in road improvements he plans to make near Lowe's Motor Speedway. But they say it could take 40 years to pay the money back. Smith says he wants all the money back in 3 years. The mayor of Concord and chair of the county commission won't discuss details of the negotiation, but County Commissioner Coy Privette isn't holding back. He's against giving Smith incentives of any kind, but says speeding up the reimbursement definitely won't work. "There's absolutely no way that the county can come up with that kind of money unless we just shut down operations of the whole county to pay him his incentive," says Privette. A spokesperson for Cabarrus County says officials are reviewing Smith's counteroffer and will consider options at their next meeting in October.