LAS VEGAS (AP) Tourism officials in Las Vegas will gather Wednesday to discuss a deal that could result in the city hosting an additional NASCAR top Cup series race starting in 2018.
The Las Vegas Convention and Visitors Authority’s board of directors have scheduled a special meeting to discuss a race sponsorship agreement with the Las Vegas Motor Speedway, which already hosts a Cup race every year. The deal would be for $2.5 million a year for seven years with the option of extending the agreement three years.
The meeting comes days before the track hosts this year’s race Sunday.
A draft of the agreement calls for the second race to be held in fall, normally in September.
The Convention and Visitors Authority is expected to pay a sponsorship fee of $1 million per race and commit to spending $500,000 annually to market both races.
Speedway Motorsports Inc. owns the Las Vegas track, along with seven others.
The company could move an event from one of its own tracks to another or could try to leverage with a property outside of its portfolio.
Las Vegas tourism officials reported that the 2016 race attracted more than 96,000 out-of-town guests and had an overall economic impact of more than $139 million.
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