NASCAR: Series does handshake deal to pay $2M more to City

After ripping off the city of Chicago in 2023, NASCAR has promised to increase their payment to the city by $2 million for this year’s race.

When city officials announced in October the NASCAR street race would return in July 2024, Mayor Johnson promised it would be a better deal for the city. NASCAR officials said they are helping to fulfill that promise.

Despite a near-rain out that shortened NASCAR’s first-ever city street race and cancelled several planned concerts, officials said downtown Chicago turned out to be an ideal showcase, and they are committed to returning.

“In spite of the rain this was tremendously successful. It showcased the city of Chicago,” said Julie Giese of NASCAR Chicago Street Race.

To that end, NASCAR officials said they already promised to shorten the setup time for the race by six days in order to keep Chicago downtown streets open as long as possible. But they have now also promised to increase their payment to the city by a flat $2 million for this year’s race.

“It’s a step in the right direction, but remember, NASCAR negotiated favorable terms. The Lightfoot administration got taken to the cleaners on this deal,” said 2nd Ward Ald. Brian Hopkins.

Hopkins and several Chicago city council colleagues have been critical of the race and the inconvenience to residents for several weeks, including over the Fourth of July holiday weekend. Ald. Bill Conway said he’s not sure $2 million is enough to cover the city’s costs, and it’s only a handshake agreement.

“If your’e gonna do a multimillion dollar deal as a municipality, you should get that in writing so everyone knows the terms,” he said.

“It’s important this is an event that’s beneficial to everyone. It’s a great opportunity to showcase Chicago, the beauty of it,” said Giese.