SHANE van Gisbergen may one day race again at his happy hunting ground on the streets of Chicago, with positive talks ongoing between NASCAR and the City of Chicago, after the event was postponed from the 2026 schedule.
With the July 4th Independence Day holiday weekend date, build and tear-down times, and financials noted as sticking points, the parties are working through arrangements to make the event more workable in future.
In contrast to Government-supported street races in Australia, for the 2024 event, Chicago’s local Park District is noted as having received from NASCAR over US$200,000 as a percentage of profits from concessions and merchandise sales, in addition to US$2 per admission ticket sold.
The Park District were also paid a flat fee of US$550,000, which was expected to rise for 2025, while the City secured an additional US$2 million direct payment from NASCAR for last year’s event.
To facilitate the build, the City is reported to have paid nearly US$2.5 million in overtime, for roadworks, plus payments to the local parking meter operator.
However, the 2024 event generated a US$128 million economic impact and nearly US$10 million in tax revenue.
To justify the expense for NASCAR, event promoters receive a significant portion of the sport’s broadcast rights, even though the teams have received a greater share in the most recent Charter agreement.
NASCAR currently controls 12 tracks on the schedule, including the Chicago street race, Daytona, Darlington, Homestead-Miami, Iowa, Kansas, Martinsville, Phoenix, Richmond, Talladega and Watkins Glen International.
“Everything they learned in the first two years, we all learn from our mistakes, and certainly they did too,” said Alderman Brian Hopkins from the City of Chicago to WGN9.
“After this meeting, I am absolutely convinced they want to come back and race in ’27, ’28 and beyond.
“They did further reassure us, with some more specifics behind it, that they’re going to use 2026 to continue to establish their presence in the community of Chicago.
“They’re getting smarter, they’re learning as they go along.
“They were even able to successfully reopen all the roadways downtown a couple of days early this year, so that’s to their credit.
“It’s time to hit the reset button and make sure that the Chicago taxpayers get what they’re entitled to for hosting this event.
“We need to do more than break even on this, it’s not enough to break even, it’s not enough for the City to have a small profit.
“They did tell us that they’re only looking at coming back to Chicago in June, July, possibly August, but August is very challenging for them.”
A look at the future of NASCAR in San Diego? Pic: Supplied/Historic Motor Sports Association Facebook
The format of the event could follow the blueprint set down by the Coronado Speed Festival, an historic motorsport event which took over the Naval Air Station for a 19-year run that started in 1997.
Utilising the facility’s runways in a manner akin to IndyCar’s former Cleveland event at Burke Lakefront Airport, the discontinued event regularly featured historic NASCAR races.