TRAC's inaugural season includes Texas Motor Speedway.
FORT WORTH-DALLAS (April 24, 2002) - Texas Motor Speedway will hold two Team Racing Auto Circuit (TRAC) races during the stock car series' debut season in 2003.
The events are scheduled for May 3 and July 19 at Texas.
TRAC, a wholly-owned subsidiary of Team Sports Entertainment Inc. (NASDAQ:TSPT.OB), announced today an agreement to race at five major facilities owned by Speedway Motorsports (NYSE:TRK).
In addition to the two Texas Motor Speedway dates, the series will also appear twice each at Atlanta Motor Speedway, Bristol Motor Speedway, Las Vegas Motor Speedway and Lowe's Motor Speedway in Charlotte. TRAC's complete 2003 schedule is expected to be announced in the next few months.
TRAC announced the new series in spring of 2001. Although categorized as a stock car series, instead of the traditional sedans, fans will see Corvettes, Mustangs and Vipers representing the three major automakers.
"We look forward to hosting this new series," said Gossage. "It's a new concept in racing and promises to be interesting. As everyone knows, we like new and creative ideas. TRAC certainly promises to be a new approach to motorsports."
Today's announcement was made at Lowe's Motor Speedway by TRAC President and Chief Operating Officer Jon Pritchett and Speedway Motorsports President and Chief Operating Officer H.A. "Humpy" Wheeler.
"Obviously, one of the first priorities for executing our plan was developing relationships with key venues. Speedway Motorsports has five extraordinary oval tracks in five strong markets," said Pritchett. "What's more, they have two of the greatest innovators in motorsports history and five strong general managers at each venue who know how to operate major, made-for-television events."
"Major racing venues, especially superspeedways, across America need more events," said Wheeler. "TRAC's new and unique approach to auto racing has the potential to provide more motorsports entertainment for those hungry for more racing, while at the same time bringing first-time ticket buyers to our venues. This motorsports league concept is certainly an innovative approach in marketing a new series. It is an additional entertainment option for fans and venues and shouldn't be viewed as competition to any other motorsports series."
Team Racing Auto Circuit (TRAC) is a unique racing format which combines the qualities of traditional motorsports with the best attributes of traditional professional team sports leagues (NFL, NBA, MLB, etc). Initially, the league will consist of 10, three-car teams that will be located in major U.S. cities with major motorsports venues. Each team will represent its city and region and will participate in a season-long schedule of team races in addition to an all-star event and concluding with a season-ending championship race.
TRAC officials have devoted the past 12 months to working on venues, car design, drivers, team owners and a major television partner. Other announcements and updates will be provided in the coming months.
Wheeler also acknowledged that the new alliance with TRAC would benefit SMI's business plan.
"This will compliment our yearly schedule of events, including our NASCAR races and other major events," Wheeler said. "It will have a positive impact on our 2003 earnings. However, it is too early to specify how much."
With Texas, Atlanta, Charlotte, Las Vegas and Tennessee identified as five of the 10 initial markets for placing teams, TRAC will now turn its attention to selecting the final five markets for the 2003 season.
"We believe our teams have the ability to make a significant economic impact on their communities and that our content provides venues with the unique ability to generate incremental income without undo risk," added Pritchett.
Speedway Motorsports, the first motorsports company to be publicly traded on Wall Street, is a leading promoter and marketer of motorsports entertainment. SMI owns and operates facilities in Atlanta, Bristol, Charlotte, Las Vegas, Texas and San Francisco.