HomeMy WebLinkAboutContract 43176 (2)CITY SECRETAR`!
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 9, 2011 (with
associated events beginning on April 7) and the AAA Texas 500 Sprint Cup race on November
6, 2011 (again, with associated events beginning on November 3 and the only "Chase for the
Sprint Cup" race in Texas).
This contract 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.
EXECUTED effective the 27th day of July, 2010.
CITY OF FORT WORTH:
B
Assistant City Manager
ATTEST:
By:
/V1ctq
City Secretary
APPROVED AS TO FORM AND LEGALITY:
Peter Vaky
Deputy City Attorney
•
'res. 3513 - O8-2 007
NATIONAL ASSOCIATION FOR STOCK CAR AUTO RACING, INC.
By•
Steve O'Donnell, Senior Vice President Racing Operations
Th
OFFICIAL RECORD
CITY SECRETARY
Ft WORM, TX
•
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July 27, 20 0
This Setter- is in response to a recent request by Teets Motor Speedway ay President
Eddie Comae to exiliain to you the annual proms by which the National
Assochtion for Stock Car Auto Ravin Lnz(N(NASCAR) sew venues and awl
race dates for NASCAR sanctioned a veins
14k:ASCAR currently males decisions why to hold .3,anctioned events on an Dual
basis_ Each year, prier into enter into negotiations for the following year's
SZEtaion n reements with the track facl , NASCAR does a wholesale review of
its module_ In contemplating the sanc-doning of a track NASCAR bola at many
factors, eluding conditioa of the facility., the market area . h;gory suppoiline
motorsports, prowl i ng future of motoriport support), the compeEtion trate,
travel requirements for caulpaitors and officiate, xi/culler co t s, past history of
facility options and manncment. firrr 1 health of the facility, N CAR's
overall business goats, along with other relevant considerations_
The annual t .n1 to specific racetracI3 is made on a competitive basis, and
there1s always competition among tracks in different states to obtain a second race
(by removing a race from another facility)._ Furtlial, there is comp€ lion when a track
is currently without a NASCAR race and &sires to obtain n utrir dt to fie
supply of dates.,would necessarily have to be taken from a tack in another sty E
addition to the criteria described above:,NASCAR obviously looks more favorably
on f ti�� that,, in addititwt, have dye support of their state € r local
P{e-7 that final decision where a s maned eventis held is in NASCAR's sole
discretion and is done in funberance of the hest interests of -the various industry
stakeholders and the sport as a whole_
1 hopethis lanatioof the NASCAR s pzocess is helpful to you_ P
do not hesitate to contact me if you hive wry &yin questions or co e .
- Retards,
Mike Helton
N. Precedent
cc Man France
Ste Owl
Gary Ott.
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX