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NASCAR race Chicago: moneys lost by the city
Posted on 10/9/23 at 12:44 pm
Posted on 10/9/23 at 12:44 pm
They gave a race and only 79,000 people showed up and paid to watch it.
A lot of money was said to have come to the city businesses, but how much, really could 79K people spend?
A lot of money was said to have come to the city businesses, but how much, really could 79K people spend?
quote:
City spent at least $3.5M on road race
NASCAR paid Chicago $620,000 in return
Mayor Brandon Johnson’s decision to bring a NASCAR road race back downtown comes even though the event this past Fourth of July weekend generated less economic impact than predicted Nand cost the city at least $3.5 million for police overtime and construction.
The $3.5 million figure stands in contrast to the $620,000 NASCAR paid the city to transform streets surrounding Grant Park into a 12-turn, 2.2-mile racetrack. NASCAR paid a base $500,000 permit fee to the Chicago Park District in April and in late September cut a final check for the 2023 race for nearly $120,000 to pay the city its portion of ticket sales as well as commissions for food, beverage and merchandise, according to city records.
5
Posted on 10/9/23 at 12:54 pm to real turf fan
To be fair, the weather situation, I have to believe, played a role in this. It pissed buckets for two straight days. And the day of the actual race, the city got multiple inches in a span of a few hours.
Posted on 10/9/23 at 1:00 pm to real turf fan
Yep, weather def played a huge role FYI
Posted on 10/9/23 at 4:07 pm to real turf fan
A monsoon basically sat on the city that weekend, and they had to cancel all the music acts and bunch of other promoted activities around the races. I believe the recorded rainfall was unprecedented for that time of year.
When I got to Grant Park on Sunday morning, xfinity drivers had just been called to their cars because every forecast said the rain would move out before lunch time. Instead, the rain didn't stop until dinner time. It's almost impossible to fairly judge the weekend.
When I got to Grant Park on Sunday morning, xfinity drivers had just been called to their cars because every forecast said the rain would move out before lunch time. Instead, the rain didn't stop until dinner time. It's almost impossible to fairly judge the weekend.
Posted on 10/9/23 at 4:17 pm to nvasil1
quote:
cut a final check for the 2023 race for nearly $120,000 to pay the city its portion of ticket sales as well as commissions for food, beverage and merchandise, according to city records.
That feels really low, unless they were getting a ridiculously low % of the rev.
Posted on 10/9/23 at 4:21 pm to real turf fan
I was a huge skeptic of the race but I actually thought it was very well done (minus the weather). It was like a full 4 hour infomercial on the city. And let’s be real, the demo that’s into NASCAR probably was not planning to visit Chicago. If this race helps sway 20-25% of them to come visit, seems like a win in my book.
This post was edited on 10/9/23 at 4:22 pm
Posted on 10/9/23 at 4:33 pm to real turf fan
NASCAR race Chicago: moneys lost by the city
I think this is personally interesting... I'm not much of a Nascar fan but I follow their Instagram. Every week a video comes up of two children in helmets bumping foreheads and I always think, this is the exact reason I don't watch Nascar. But if I had a clue that they were doing a Chicago street race I would have tuned in at least for a little while to see the spectacle of it. But no, I know for a fact that there was not a dime spent on my knowing that that race was going to happen.
I think this is personally interesting... I'm not much of a Nascar fan but I follow their Instagram. Every week a video comes up of two children in helmets bumping foreheads and I always think, this is the exact reason I don't watch Nascar. But if I had a clue that they were doing a Chicago street race I would have tuned in at least for a little while to see the spectacle of it. But no, I know for a fact that there was not a dime spent on my knowing that that race was going to happen.
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