A review of the NASCAR Hall of Fame’s commitments for sponsorships shows that projected revenue is declining significantly, dropping from $1.5 million in 2012 to $110,000 for the fiscal year starting in July.
The loss of sponsorship revenue could further explain why Bank of America and Wells Fargo recently agreed to a deal in which they would forgive $17.6 million in interest and principal from a hall-related loan in exchange for a $5 million payment.
The reason: The bank’s chances of getting their money back were more grim than the city outlined to City Council.
