WITN  | Greenville, NC  | News, Weather, Sports

Smith Says Someone Trying To Undo $80M Deal

Lowe's Motor Speedway owner Bruton Smith says someone is trying to undo his 80 million-dollar incentives deal.

The Charlotte Observer reported Monday that the 81-year-old billionaire said he no longer trusts Concord and Cabarrus County officials.

Smith insists the deal means his company must be compensated within two to three years for fronting the cost of major road upgrades around the track. About three weeks ago, Concord and Cabarrus County officials said it could take up to 40 years to repay most of those costs.

Smith said no timetable had been discussed, and anyone who says otherwise "is a liar and a cheat."

Last fall, Smith threatened to move the speedway after Concord officials blocked his plans to build a 60 million-dollar drag strip across from the speedway.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WITN

275 E. Arlington Blvd. Greenville, NC 27858 252-439-7777
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 28044984 - witn.com/a?a=28044984