NASCAR Shrugs, Walks Away
Ding dong NASCAR's dead. The ISC came a'knocking with promises of garbage bags full of tourist's cash if only the state legislators would agree to a tax-payer-funded track on the Peninsula. It seemed like kind of a longshot from the beginning, and NASCAR's local guys failed spectacularly at judging the state of things in the Puget Sound region. "Hey, guys, they just voted down a tax-funded basketball venue and it looks like they're gathering in front of Key Arena right now with torches and pitchforks. Get Petty over here today!" Yeah, Richard Petty came and instead of having politicians falling over themselves to kiss his belt buckle they insulted him and NASCAR fans in general and sent him on his way. We're kind of neutral on the prospect of a NASCAR track in the region. We'd go, sure. But tax-payer funded? C'mon.
"We have really built a significant supporter base," Santiago said. "We still view the region as a significant growth opportunity for our company."Developers had touted the racetrack as a $4 billion boon to the state's economy, including thousands of jobs. But legislation to help finance the track has gone nowhere.
Santiago said too many changes were being proposed to the legislation, and it became clear last week that the only way the bill would proceed would be if there were additional changes "we just weren't comfortable with.
"As a public company, we have a responsibility to our shareholders to only undertake projects that would generate a return," he said.
