HomeMy WebLinkAboutContract 43874 cjTY SIECRETy AP
CONTRACT NO*-
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
45 2012 (again, with associated events beginning on November 1 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. o to
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CITY OF FORT WORTH: ATTEST: a cot
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By. By:
S n Al ani sI'�C'l
Assistant City Manager City Secretary
APPROVED AS TO FORM AND LEGALITY:
By:
Peter Vaky Xes. 3,513--G E(--2-p07
Deputy City Attorney
NATIONAL ASSOCIATION FOR STOCK CAR AUTO RACING, INC.
By:_ OFF
�' RECORD
Steve O'Donnell, Senior Vice President Racing Operations
CITY SECRETARY
FT& WORTH,
1 1 -12-1 2 A'1 1 : ?S IN
i
rMTERNATIONAL MOTORSPORTS CENTER
MIKE HELTt3N ONE DAY TONA BOULEVARD
PRESIDENT DAY TONA BEACH, FLORIDA 32114
TELEPHONE: 386-310.6877
FAx- 388.310.6810
January 4, 201?
City of Fort Worth
ATTN: Angie Highland
1 000 Throckmorton
Fort worth. Texas 76 102
❑car Sir or %,Iadcant:
Co
Fhe National Associatiort fOr- Stock Car Auto Racing f NAS(_"Ali),as a Site selection organisation. has
sele'cied ,texas Motor Speed,�i ay to host the Sarnsting Mobil 5,00 Sprint Cup race on April 14. 201'").(with
associated events beginning on April I.)and the AAA Texas 5160 Sprint Cup race on November 4. 2012
tagain. \%ith associated events beginning on November 1�.
NASCAR currently makes decisions %,-here to hold sanctioned events on an annual basis, in a highly
coin pet iti�e manner. Fac:h year, prior to entering into negotiations fi)r the folIowin ear's sanction
agreements with the tract: facilities. NASCAR dries a wholesale review of its schedule. In contemplating
the sanctioning of a track. N A SCAR looks at many factors, including: condition of the facility, the market
area 4 history of supporting lnotorsports, promising future of nnotorsports support).the competition
�,c ltedu le, travel requ irerneiiLs for competitors and officials, weat her conditions,past history of fact 1 icy
operations and management, financial health of the facility. NASCAR's overall business goals, along
kvith other relevant considerations.
As I'm sure you ttre aware,there are nearly other ventles and promoters gaups that vie annually for a
limited number of NASCAR events. The NASCAR Sprint Cup Series is in highest demand. however,
N ASC'AR has successfully negotiated a 2012 Sanet ion Agreement N%ith Texas Motor Speedway and
chosen t o main sanction NASCAR Sprint Cup and ether NASCAR events at this facility,
13y way of further explanation, the annual assignment of specific is racetracks is made on a highly
competitive basis. and there is alwa%.s competition among tracks in diiTcrent states to obtain a second race
tb) relnovin2 a race from another faciIity'3. Further,there is competition when a track is currently without
a NASCAR race and desires to obtain cane. N%hich,due to finite supply of dates. would necessarily have to
be taken from a track in another state. In addition to the criteria described above.NASCAR obvious lv
r
looks more fati orablti on tac i l it ic:s that. in addition. have the support of their state or Jocal t ominunities.
Please iiotc that a final decision where a sanctioned evert is held is in NASC'AR's sale discretion and is
done in 1'trrthtranc:e of the best interests of the 4,arious industm-stakeholders and the sport as a whole.
Please do not hesitate•to contact nic if%eau ha%c anN f iirther questions or concenis.
Regards.0
Ji411elton
President