HomeMy WebLinkAboutContract 43872 CITY SECRVARY -mac
coNTRACT Nor
TRUST FUND EVENT SUPPORT CONTRACT
This TRUST FUND EVENT SUPPORT CONTRACT ("Agreement") is made and
entered into by and between the CITY OF FORT WORTH and NATIONAL ASSOCIATION
FOR STOCK CAR AUTO RACING, INC. ("NASCAR").
Recognizing the undertakings, agreements, and commitments made by the City of Fort
Worth to Texas Motor Speedway, Inc. and Speedway Motorsports, Inc., NASCAR has selected
Texas Motor Speedway to host the Samsung Mobil 500 Sprint Cup race on April 14, 2012 (with
associated events beginning on April 12) and the AAA Texas 500 Sprint Cup race on November
4, 2012 again, with associated events be on November I and the only "Chase for the
Sprint Cup" race in Texas).
This agreement is intended to supplement the attached letter as well as the agreement as
referenced in the previous paragraph and serve as an event support contract pursuant to TEX.
REV. CIV. STAT. art. 5190.14, § 5 (the "Act"). In executing this agreement, the City of Fort
Worth confirms those undertakings, agreements, and commitments in favor of NASCAR
pursuant to the Act.
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EXECUTED effective the 4 day of January, 2012. oo 1%0
CITY OF FORT WORTH. ATTEST:
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By: By: ,' . . '
Susan Alanis /V\(I y / '.3
Assistant City Manager City Secretary
APPROVED AS TO FORM AND LEGALITY:
OFFICIAL RECORD'
By' CITY SECRETARY
Peter Vaky / ,es. 35`13--0SrR2p D
Deputy City Attorney ��'� WORTH, ��
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NATIONAL ASSOCIATION FOR STOCK CAIN AUTO RACING, INC.
By: - -
Steve O'Donnell, Senior Vice President Racing operations
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INTERNATIONAL MoyopsPaRTS Cem-mot
MIKE H�LTaN Okr. DAYTaNw BOULgVARO
DAY TONA E�r^cK FLQRsm 32114
PRESIDENT MELCPHomc 366.310.6877
FAx: 306.310.6810
January 4, 2012
City of Fort worth
ATTN: Angie Highland
1000 Throe kniorton
Fort Forth. Texas 76102
Dear Sir or Madam:
Congratulations!
"Fhe National Association for Stock Car Auto Racing(NASCAR), as a site selection organi2wion, has
selected Texas Motor Spee&vay to host the Samsung Mobil 500 Sprint Cup race on April 14. 10 12(with
ass(xiated events beginning on April 1?)and the AAA Texas 500 Sprint Cup race can November 4.?012
(again, with ass(viated events beginning can November 1).
NASCAR currently makes decisions where to hold sanctioned events on an annual basis, in a highly
competitive majiner. Each year, prior to entering into negotiations for the following yearns sanction
agreements with the track facilities.. NASCAR does a wholesale review of its schedule. In contemplating
the swanctioning of a track, NASCAR looks at many factors, including: condition of the facility,the market
area(history of supporting rnotorsports,promising future of motorsports support,the competition
schedule, travel requirements for competitors and officials,weather ccmditioas.past history of facility
Operations and management, financial health of the facility,NASCARTs overall business goals,along
with other relevant considerations.
As I"mt sure you are aware,there are many gather venues and promoters groups that vie annually for a
limited number of NASCAR events.The NASCAR Sprint Cup Series is in highest demand. However.
NASCAR has successfully negotiated a?Ql2 Sanction Agreement with Texas Motor Speedway and
chosen to again.sanction NASCAR.Sprint Cup and other NASCAR events at this facility.
By way cif further explanation,the annual assignment of specific racetracks is made on a highly
competitive basis,and there is always competition among tracks in different states to obtain a second race
(by rcmoving a race from another facility). Further,there is competition when a track is currently without
a NASCAR race and desires to obtain one,which,due to rinite supply of dates. would necessarily have to
be taken from a track in another state. In addition to the criteria described above.NASCAR obviously
looks more favorably can facilities that. in addition.have the support of their state or local communities.
Please note that a final decision where a sanctioned event is held is in NASCAR's sole discretion and is
done in f Urtherance of the best interests of the various industry stakeholders and the sport as a whole.
Please do not hesitate it)contact me if you have any further questions or concerns.
Regards,
JHelton
President