The View from Here: The Business of NASCAR

There’s an old saying that there are only two things certain in our lives — death and taxes. Well, in Richmond, there has been a third “certain” — a sellout for Richmond International Raceway NASCAR weekend races. For the past double-digit years, RIR has experienced the pleasure of having a sellout for the Sprint (Nextel/Winston) races for both the May and September races. That sellout has been as certain as “death and taxes”.

Now, however, two days before the Saturday race and RIR has announced that it has yet to sell out — although RIR management is certain it will. Still, rising gas prices and escalating ticket prices — coupled with three-night minimum hotel stays and higher food prices — are having an impact on race attendance. Clearly, it’s cheaper to stay home and watch ESPN or Fox than to venture a couple of hundred miles to drop $1,000 for a three-day weekend.
In fact, in the last ten days USA Today, the Associated Press and the Richmond Times-Dispatch have all featured a story on the impact of the sluggish economy and record-setting gas prices on NASCAR attendance.

I’ll be at the race on Saturday and I’ll do my usual walk-through of the parking lots to identify the origin of the license plates. I’m guessing I’ll see fewer Ohio, New York, New Jersey, and Tennessee plates this year. I’ll let you know. That’s the view from here. Let’s go racin’, boys! Jon