VPI97
08-25-2005, 10:14 PM
Motorsports CEO offers Va. Tech, Vols big bucks to meet at speedway (http://www.knoxnews.com/kns/local_news/article/0,1406,KNS_347_4028478,00.html)
(registration required)
By DAVE HOOKER, [email protected]
August 25, 2005
Bruton Smith has never been afraid to put his money where his mouth
is. The combination of the two has the University of Tennessee
interested.
The chairman and CEO of Speedway Motorsports is trying to jumpstart
an old idea: a football game between UT and Virginia Tech at Bristol
Motor Speedway. Why might it succeed now when it failed before? The
stakes have been raised.
"Twenty million to each team," Smith said. "Universities always want
money so that would be $20 million for your university (UT) and $20
million for Virginia (Tech). That would be a pretty big financial day
for them."
UT has long resisted moving a home game to Bristol. However, that was
when the speedway had offered UT approximately $3.5 million in 1999
to play a regular-season game on the infield of the .533-mile, high-
banked oval track.
UT athletic director Mike Hamilton said Wednesday that the
university clears approximately $3.25 million in profit for a home
game at Neyland Stadium.
"Twenty million is a bunch of cash," said Hamilton, who will
coincidentally attend a NASCAR race at Bristol for the first time
Saturday. "If he's talking about $20 million, obviously, I'm
listening.
"You're always going to be looking for the next opportunity from a
revenue perspective that has the least amount of negative impact on
your fan base. If you can come up with additional revenue that
doesn't have a direct hit on your fan base, that's always something
you're going to have to take a look at."
Smith likely sees an opportunity to rekindle serious talks of the
project with Hamilton replacing Doug Dickey as UT's athletic director
in July 2003. Dickey was a strong opponent of the idea before he
retired.
Providing UT with a substantial profit is not the only issue that
must be overcome to finalize a deal among the three parties. Hamilton
is quick to point out that the financial impact on the city of
Knoxville is a key factor if UT is willing to move a home game to
Bristol.
"We don't want to give up a home game, but if something ever happened
where the money was significant enough that it was equivalent to or
better than a home game, we'd have to at leastconsider it," Hamilton
said. "The other factor in the whole deal is that you have some
obligation to the community of Knoxville. It's a huge economic impact
for our city. That has to be considered."
Hamilton said some of that impact on Knoxville would still be felt if
a home game was moved to Bristol because many fans would likely book
hotels in the Knoxville area and drive to the speedway. Bristol is
about a two-hour drive from Knoxville and Blacksburg, Va., the home
of Virginia Tech.
Knoxville Mayor Bill Haslam said after learning about the offer from
Bruton that he wouldn't stand in the way if UT decides to play in
Bristol.
"Obviously we hate to lose a football game," Haslam said "but what is
good for the University of Tennessee is good for the city of
Knoxville."
Scheduling is another concern. UT's schedule is booked solid until
2008. In 2002, Virginia Tech was reportedly willing to offer a three-
game series with one game each to be played in Blacksburg, Knoxville
and at BMS.
Smith said Virginia Tech still supports the concept. Representatives
from the school could not be reached for comment.
Recent renovations would provide a new challenge for Smith. Bristol
recently added a new building in turns three and four.
"I'll scrap them," Smith said. "I'll take them all down. We'll level
the whole place. We'll put in the Astroturf, and we'll do it all."
Smith has never been afraid to think big, as evidenced by the
towering, bowl-shaped architecture at Bristol. Smith bought the track
in January 1996 and has since added nearly 100,000 seats, turning the
track into one of the favorites among NASCAR fans. Smith owns six
motorsports facilities that host NASCAR events.
Bristol had 71,000 seats in 1996. The facility can now seat 160,000
for a race. Smith said 10,000 seats could be added for a football
game. Neyland Stadium seats 106,000.
"He's an out-of-the-box thinker and always looking for the next best
thing to do for his tracks, and I think that's great," Hamiltonsaid.
Bristol's NASCAR date in August could put a red flag on the concept.
The necessary football renovations would have to be complete in order
to play the game within three months. The weekend would also have to
coincide with an open date for UT.
"I've always said that for us to do that thing at Bristol, the
starshave to be aligned," Hamilton said.
Hamilton said the potential publicity of the game is appealing,
especially given the dollar figures that Smith promised.
It's hard to imagine a football game at BMS being a financial
windfall for Speedway Motorsports with a $40 million overhead just to
secure the two participants. Smith is confident that it would still
be profitable, if, UT decides to take the green flag at BMS.
"They hold the keys to the whole thing," Smith said. "If they decide
that they want to do it, Virginia (Tech) will be aboard. I can commit
now. Bristol Motor Speedway is aboard. It will be a big day for the
state of Tennessee."
----------------------------------------------------------------------------------------
It's an old idea...I heard rumors of a possible game with them at BMS when I was a student, but at the time it was more fantasy than factual. $20 million per team and a estimated attendance of 170,000? I don't know how either team could refuse.
(registration required)
By DAVE HOOKER, [email protected]
August 25, 2005
Bruton Smith has never been afraid to put his money where his mouth
is. The combination of the two has the University of Tennessee
interested.
The chairman and CEO of Speedway Motorsports is trying to jumpstart
an old idea: a football game between UT and Virginia Tech at Bristol
Motor Speedway. Why might it succeed now when it failed before? The
stakes have been raised.
"Twenty million to each team," Smith said. "Universities always want
money so that would be $20 million for your university (UT) and $20
million for Virginia (Tech). That would be a pretty big financial day
for them."
UT has long resisted moving a home game to Bristol. However, that was
when the speedway had offered UT approximately $3.5 million in 1999
to play a regular-season game on the infield of the .533-mile, high-
banked oval track.
UT athletic director Mike Hamilton said Wednesday that the
university clears approximately $3.25 million in profit for a home
game at Neyland Stadium.
"Twenty million is a bunch of cash," said Hamilton, who will
coincidentally attend a NASCAR race at Bristol for the first time
Saturday. "If he's talking about $20 million, obviously, I'm
listening.
"You're always going to be looking for the next opportunity from a
revenue perspective that has the least amount of negative impact on
your fan base. If you can come up with additional revenue that
doesn't have a direct hit on your fan base, that's always something
you're going to have to take a look at."
Smith likely sees an opportunity to rekindle serious talks of the
project with Hamilton replacing Doug Dickey as UT's athletic director
in July 2003. Dickey was a strong opponent of the idea before he
retired.
Providing UT with a substantial profit is not the only issue that
must be overcome to finalize a deal among the three parties. Hamilton
is quick to point out that the financial impact on the city of
Knoxville is a key factor if UT is willing to move a home game to
Bristol.
"We don't want to give up a home game, but if something ever happened
where the money was significant enough that it was equivalent to or
better than a home game, we'd have to at leastconsider it," Hamilton
said. "The other factor in the whole deal is that you have some
obligation to the community of Knoxville. It's a huge economic impact
for our city. That has to be considered."
Hamilton said some of that impact on Knoxville would still be felt if
a home game was moved to Bristol because many fans would likely book
hotels in the Knoxville area and drive to the speedway. Bristol is
about a two-hour drive from Knoxville and Blacksburg, Va., the home
of Virginia Tech.
Knoxville Mayor Bill Haslam said after learning about the offer from
Bruton that he wouldn't stand in the way if UT decides to play in
Bristol.
"Obviously we hate to lose a football game," Haslam said "but what is
good for the University of Tennessee is good for the city of
Knoxville."
Scheduling is another concern. UT's schedule is booked solid until
2008. In 2002, Virginia Tech was reportedly willing to offer a three-
game series with one game each to be played in Blacksburg, Knoxville
and at BMS.
Smith said Virginia Tech still supports the concept. Representatives
from the school could not be reached for comment.
Recent renovations would provide a new challenge for Smith. Bristol
recently added a new building in turns three and four.
"I'll scrap them," Smith said. "I'll take them all down. We'll level
the whole place. We'll put in the Astroturf, and we'll do it all."
Smith has never been afraid to think big, as evidenced by the
towering, bowl-shaped architecture at Bristol. Smith bought the track
in January 1996 and has since added nearly 100,000 seats, turning the
track into one of the favorites among NASCAR fans. Smith owns six
motorsports facilities that host NASCAR events.
Bristol had 71,000 seats in 1996. The facility can now seat 160,000
for a race. Smith said 10,000 seats could be added for a football
game. Neyland Stadium seats 106,000.
"He's an out-of-the-box thinker and always looking for the next best
thing to do for his tracks, and I think that's great," Hamiltonsaid.
Bristol's NASCAR date in August could put a red flag on the concept.
The necessary football renovations would have to be complete in order
to play the game within three months. The weekend would also have to
coincide with an open date for UT.
"I've always said that for us to do that thing at Bristol, the
starshave to be aligned," Hamilton said.
Hamilton said the potential publicity of the game is appealing,
especially given the dollar figures that Smith promised.
It's hard to imagine a football game at BMS being a financial
windfall for Speedway Motorsports with a $40 million overhead just to
secure the two participants. Smith is confident that it would still
be profitable, if, UT decides to take the green flag at BMS.
"They hold the keys to the whole thing," Smith said. "If they decide
that they want to do it, Virginia (Tech) will be aboard. I can commit
now. Bristol Motor Speedway is aboard. It will be a big day for the
state of Tennessee."
----------------------------------------------------------------------------------------
It's an old idea...I heard rumors of a possible game with them at BMS when I was a student, but at the time it was more fantasy than factual. $20 million per team and a estimated attendance of 170,000? I don't know how either team could refuse.