New Youk City Track

kat2220

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ISC facing difficulties in Staten Island
by Steve Waid

NEW YORK – During a session at the Motorsports Marketing Forum here, where several issues facing NASCAR and other sanctioning bodies were discussed, the matter of the proposed speedway in Staten Island was brought up in an interesting way.

The attendees who thought there would be a NASCAR race in New York before one in China were asked to raise their hands. None did.

Then, all the New Yorkers in attendance were asked to raise their hands if they thought a track would be built in their city. None did.

Interesting. It would indicate that ISC's attempt to put a track in the country's No. 1 market is a task that might be too formidable to complete – at least, that seems to be the opinion expressed at the forum.

In the past, ISC has vigorously pushed for the creation of the speedway. It has, among other things, bought the land in Staten Island, presented traffic plans, pleaded that racing is good for the city's economy and butted heads with the local politicians – who have been unimpressed, to say the least.

ISC officials said that it's going to take time. And as that time passes, its hope is that newly elected officials will be more receptive of the project – which, I would think, is the first step toward its completion.

It's obvious that many folks in Staten Island have no desire to see a track built in their borough and have said so.

But others have been equally vocal in their support. They've said the economy isn't the best and the influx of dollars and jobs from a speedway would be a boon.

Some have also said they aren't certain that their fellow citizens understand what a NASCAR race really is. It's not just about cars running around in a circle. It's a major event that spans days, with all manner of related activities and promotions.

There's no doubt ISC would greatly benefit from a speedway in the country's largest metropolitan area and the home of many major corporations.

It's obvious that to have it is, indeed, going to take time – and money.
 
ISC Discontinues Pursuit of Speedway in Staten Island: International Speedway Corporation ("ISC") today announced its decision to discontinue pursuit of a speedway development on Staten Island. The Company will explore alternative strategies for the 676-acre parcel of land it currently owns in the borough. ISC had been evaluating the feasibility of developing a motorsports entertainment facility on Staten Island since late 2004. This study focused on a number of key project components such as:
- Evaluating the potential for securing the necessary land-use change and permitting approvals;
- Analyzing the potential requirements and related costs that would be imposed on the project as conditions of any approvals received;
- Further analyzing the potential economic model for the speedway development, including construction and other costs; and,
- Determining the level of available public incentives for the development.
The decision to discontinue speedway development efforts has been driven by a variety of factors, including:
- The inability to secure the critical local political support that is necessary to secure the required land-use change approvals for a speedway development;
- Even if ISC had secured the necessary political support, it became apparent that the Company would have been faced with unacceptable approval requirements, including operational restrictions that would have made the facility difficult to operate and a significant challenge to market;
- The increased risk that these unacceptable approval requirements could result in higher construction spending and annual operating costs, which would have a significant negative impact on the financial model for the speedway development.
"While we are disappointed that we could not complete the speedway development on Staten Island, our enthusiasm for the metropolitan New York market is in no way dampened and we continue to view the region as a prime location for a major motorsports facility," said ISC President Lesa France Kennedy. "We clearly believe that if we had been able to proceed through the full public process, the significant benefits this project represents would have generated a more positive reaction. However, based on the results of our feasibility study, specifically the lack of political support and unacceptable land-use approval requirements, we have determined it is in the best long-term interest of ISC to discontinue the Staten Island speedway development and pursue other strategic alternatives for the property."
The Company will immediately begin to research and develop market demand studies to assist in the evaluation of various alternative strategies, including potentially selling the property in whole or in parts, or developing the property with a third party for some other use. ISC believes the value of the property will be in excess of $100 million once it is filled and ready for sale.
"Despite the political challenges we experienced," continued Kennedy, "we appreciate the support from a variety of groups on Staten Island including the business, civic and residential communities to bring a speedway to the area. Due to the considerable interest and support for NASCAR racing in the region, we remain committed to the pursuit of a motorsports entertainment facility development in the nation's number one media market. We believe a facility in this area represents a significant long-term opportunity for our company, and is one component of several broader strategic growth opportunities ahead for ISC. We look forward to our continued success in achieving these opportunities and sharing our progress in the future."(prnewswire.com)(12-4-2006)
 
smart move on their part.....Nascar's tv ratings dropped at nearly every track this year....before they expand to new markets (again)...they need to take sometime and figure out what the problem is.
 
They need to give up this idea. New Yorkers aren't interested in racing, just like people in Talladega aren't interested in professional tennis.
 
JMO, but I have lots of friends in or near NY City who are NASCAR fans but wouldn't have attended IF the track had been built, simply because of the logistics in getting to or from the track. Just imagine traveling from even Jersey.....
no campgrounds, unreal traffic, price of a meal, hotel, and on and on. What a mess it would have been!
 
They need to give up this idea. New Yorkers aren't interested in racing, just like people in Talladega aren't interested in professional tennis.

Just for the record, that's Noo Yawk.

Actually, New Yorkers are interested in NASCAR racing. If the local rags, the New York Daily News and New York Post ( is that really a newspaper ?) find space to print stories about NASCAR, weekly race results and other news within the NASCAR community, there must be a following. Took a long time to get the media in the NY Metropolitan area to give one line of information on NASCAR but these days, it seems NASCAR is news in New York all year round and not just when the banquet is held there.

Anybody got thoughts on why people in Talledega are not interested in professional tennis ??? :)
 
JMO, but I have lots of friends in or near NY City who are NASCAR fans but wouldn't have attended IF the track had been built, simply because of the logistics in getting to or from the track. Just imagine traveling from even Jersey.....
no campgrounds, unreal traffic, price of a meal, hotel, and on and on. What a mess it would have been!

You're right though. Just getting from Secaucus (across the Hudson River) into New York is a logistical pain. That's easily a 40 minute wait. Factor in race traffic. But still, Dover. I have friends that get tickets from work and won't go to Dover because of traffic. Hand them here, I have no problem with traffic :D
 
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