TMS asks for local help to retain second race

FORT WORTH, Texas (AP) -- Officials at the Texas Motor Speedway, which is getting its second Nextel Cup race this year, want the city of Fort Worth to contribute about $500,000 to help with marketing.

"The Cup race is good for one year," said Tom Krampitz, the speedway's director of government relations and general counsel. "Another race in 2006 depends on us selling out the speedway in 2005."

He said local fans typically pack the stadium for the first big Nextel Cup Series race, which this year is the Samsung/RadioShack 500 on April 17. They won't necessarily return for the Nov. 6 Dickie's 500 race, he said.

Krampitz presented the proposal Tuesday to a City Council committee, which endorsed and forwarded the proposal to the full council for consideration.

Tracks Texas Motor Speedway

The 20-year promotional proposal would team up the speedway and the Fort Worth Convention and Visitors Bureau to promote both races -- and Fort Worth -- with financial help from the city.

Krampitz said the speedway has committed to spending $2.8 million on marketing efforts this year. Speedway officials want the city to contribute additional funds by kicking back most of the sales and hotel taxes generated by the second race each year.

Speedway officials estimated that about $300,000 would be generated in sales taxes and about $200,000 from the hotel tax this year.

The proposal seeks a rebate of 100 percent of those taxes for the first five years, and 90 percent for the next five years.

For the final 10 years of the agreement, the city would kick back 70 percent of the sales and hotel taxes generated.