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.

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  • by Alan Location: Greenville on Sep 9, 2008 at 01:09 PM
    Why post a picture of the Lowe's # 48 car with this article? This is a story about Lowe's Motor Speedway, which is owned by Smith - not Lowe's or anyone associated with the Lowe's racing team..
  • by Anonymous Location: washington co. on Sep 9, 2008 at 06:59 AM
    Please don't put it in Washington Co. This place is redneck enough already.
  • by Anonymous Location: Columbia on Sep 9, 2008 at 04:37 AM
    I would say move it to Tyrrell County, but you can't trust our county officals either. So my plan says "Put it in Washington County". They would be happy to get it and I wouldn't have so far to drive to get to the speedway.
  • by Stephen Location: Greenville on Sep 9, 2008 at 04:01 AM
    Move it to Greenville NC !!!!!

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