Nashville SC owner Ingram opposes racetrack renovation plan

State of play: The Nashville SC's stadium, Geodis Park, opened last year and has enjoyed early success. The 118-year-old racetrack is located next door, separated by a small breezeway.

• The racetrack is badly in need of renovations. Cooper proposes working with Bristol Motor Speedway for a public-private partnership to finance a renovation plan that would see NASCAR return to the fairgrounds for the first time since 2000.
• The MLS franchise opposing NASCAR adds to a complicated political dynamic as the Cooper administration prepares to pitch the plan to council.

Yes, but: Ingram says he is concerned about two approximately 30,000-seat entertainment venues located next door to each other and possibly competing for concerts and other events.

What he's saying: "Simply put, if a competing 30,000-seat venue were built next door, it would directly affect our business and put Metro in a position of having to favor one venue over another," Ingram told council members.

• Ingram says the soccer franchise is not "against racing," but added he has concerns about the overall plan. He singled out noise and other quality-of-life concerns raised by several neighborhood groups, which have come out in opposition to the racetrack plan. Bristol has promised to build noise-blocking technology, limit the racetrack's use for practice runs and provide a list of dates when it will be booked.

The other side: Cooper tells Axios in a comment sent through his spokesperson that the Metro charter requires the city to maintain the race track, but "does not provide a mechanism to pay for it."

• He says the proposal brings private investment and is less noisy for the neighborhood because it adds a sound wall. Cooper also touted the parking spaces for soccer games, which would be added due to a renovated racetrack. He called the parking for games at Geodis an "ongoing point of frustration for soccer fans."
• "As racetracks and other sports venues co-exist beautifully in many other cities, like Kansas Speedway and Sporting Kansas City (MLS) for example, surely that can happen here too," Cooper says. "We're looking forward to the conversations ahead, which we expect to include robust and meaningful community benefits, similar to the ones implemented by the soccer stadium proposal."
• Responding to Ingram, Bristol Motor Speedway president and general manager Jerry Caldwell told council members in his own letter Wednesday evening, "Rejection of the Bristol partnership would mean Nashville taxpayers will be on the hook for maintenance and operation of the track, which is projected to be in excess of $40 million, with more obligations in the future."

Details: The state and the Nashville Convention & Visitors Corp are each committing $17 million to the racetrack project, according to the Cooper administration.

• The plan also relies on over $1 million in annual rent payments by Bristol Motor Speedway, ticket taxes and sales tax collected within the facility. Bristol would share sponsorship and event revenue with the city. The CVC would also contribute $650,000 annually in rent payments.
• The capital improvement budget earmarked $100 million in revenue bonds for the project.

Catch up quick: Metro sued over the new state law lowering the number of votes needed for the racetrack renovation to be approved. Although Cooper's administration opposes the state singling out Nashville with such laws, it is hopeful a court ruling will come in soon so it knows how many votes it must procure.

• Council is expected to begin considering the plan in July.