HomeMy WebLinkAboutContract 43874 (2)CITY SECRETARY
r,ONT ^ ACT MO.. -
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 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.
EXECUTED effective the 4th day of January, 2012.
CITY OF FORT WORTH:
Gizadvta�
t
Assistant City Manager
APPROVED AS TO FORM AND LEGALITY:
By: Z9filiS7-2/e-ti
Peter Vaky
Deputy City Attorney
ATTEST:
By: if)
CArta 141
ity Secretary
A'es. 35/3-OS'2Oo7
NATIONAL ASSOCIATION FOR STOCK CAR AUTO RACING, INC.
By:
Steve O'Donnell, Senior Vice President Racing Operations
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OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TIC
11-12--12 A11:28 IN
MIKE f-IELTON
PRESfoENI
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C It\ o Fort \\north
\ ITN: N: Angie I lighland
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INTERNATIONAL. MO IORSPORTS CENT ER
ONE DAVTONA BOULEVARD
DAY IONA BEACH, FLORIDA 32114
TELEPHONE: 386.310.6877
FAX" 386.310.6610
I he National :Association for Stock Car Auto Racing tN.AS('AR), as a site selection orgaili/anon. has
,t.Icetrtt i e\ 1, \ rotor Speed \\ a\ to hot the Samsung. Mobil 500 Sprint ( )Lip rice on ;April 1-4 21) 12 t \\ ith
elated L.\ems heLlinning on April i1 and the A:1:\ l e.N a >(1t) Sprint Cup rare on \oct.ntber 4. )012
t;t:Filt. \\ associated e\ent> bct_irnlnl1 on No\enlber 1 ).
`. \ A._':11< currcntl\ makes decisions \\ here to hold sanctioned e\ems tut an atulual ha,i,, in a hi hl\
compelhll\e manner. Each \ear. Belot It entering Hilo Rel.:foliatlons 'Or the IO110\\Ili`_' \ear ti ;tllClllll
;I_reemeuts. \\ ith the tract 1;leilitic,. \:1S(-,11Z does a \\ htllcsale re\'ic\\ of its schedule. In eontenlplatinu
the sanctioning of a track. N \tit AI: looks at I1111)1 factors. including: eilllllllll)Il of the lai Ilit\, the market
;flea thl•.it)r\ of supporting 111otorsports. promisingfuture of Ilit-torsporls support), the coillpellitl it
•chedule. test\c1 requirements for LOnlpelitors and officials. \\ealhel ccialiti ins, pas! hi.stor\ of lilrilil\
open that, and management. Iin;mcial health ofihc fiteilit\. \:\St'AR s overall business goals, alum_!
\\ ith ,thee rely \ and cunsidenitiont..
r- I'm ,ilre \ o11 ;ire :1\\;ire. there are Iran\ other \ enueN and promoters ,;mums That \ ie annually for a
limited number of N,\' C:\IZ e\ ems. (he N \SC -\It Sprint Cup Series is in highest demand. I.Io\\e\L
\,\SC Ale h I . stlLce„IIlll\ negotiated I ?UI' S;ur !ion Agreement \\ ith leas \Icltor Speed \\ ;nlcl
chosen it= ; , dill sanction \.\S("AIZ Sprint (-up and other \:\S(";11Z e\ ems. at this fat: alit\ .
ti\ \\a\ of further c\planation. the annual assignment of specific racetrack, is made on a highly
cohllpt'titi\ L basis, and Mere Is aI\\ }\ N cnmpc'tttion among tracks in different states to tlhlain a second race
i \ lerno\ inn a race from another facility). Further. there is conlpention \\hen a track is cm-icntl\" \\idiom
a '`::\SC,-\IZ race and tarsier' to obtain one, \\ hick. due to finite ;uppl\ of dates. \\otild necessarily ha\ c to
he taken taunt a trot.{ in imother state. in addition tt the chiteria described !hove. \ASC'AR ohyhou,l\
looks more l;1\nrabh, In faeiiit:eN that. in ad(I it)11. ha\L' the support of then" state or I 4cal communities.
Ple:i,e note that a final decision \\ here a sanctioned event is held is in N \SC.^,IZ', Nola dhscretion and is
done 111 (ttrtlheratice of the hest interests oldie \arlotls iildustr\ stahehoIdets and the sport as a \\ hole.
1)1se do Ihtll hesitate to cot let me it \I)ti ha\e ail\ lurtliel quest lohl oI et)nceril>.
Rei tits,,
the llehon
))resident