$400M Revamp Brings Daytona Into 21st Century

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July 2 (Bloomberg) –- International Speedway Corporation CEO Lesa France Kennedy discusses the revamp of the hallowed Daytona Speedway and sponsorship in Nascar. She speaks on “Market Makers.” (Source: Bloomberg)

The track was built in 1959. we need to take it to the next level with modern amenities that you expect from a stadium.

We are building the first true motorsport stadium.

That is what people expect.

Wider, more comfortable seats.

Much more to do as far as the guest experience.

The luxury suites will have -- 50 luxury suites.

Are those going to be for corporations?

We have more fortune 500 companies involved in our sport than any other sport.

We think it will appeal to a wide range of them.

The sponsors, toyota was the first sponsor you had here.

How did you make that sale to them?

We love toyota.

We've had a great partnership with them.

They stepped down and recognized the value.

It was perfect for us because they are a forward thinking organization.

Has it been harder to get sponsorship since the financial crisis?

Overall, it has been something more challenging.

It is up to us to continue to provide more value for them.

And get more creative with our packages.

We have examples we are rolling out with the daytona rising project.

Some sponsors are saying that we don't need to have our name on the back of the jacket or the side of the car.

We want to embrace the social media world.

Cling back to the injector and the value, it is somewhat traditional signage, anyway.

The way toyota is going to do this will be far more creative.

You will see something that is far bigger and far more creative than the traditional layout.

There are also extensions you have put social media that would add on that.

They want to touch on other points.

There will be less seats.

How will you make up the revenue?

There are all sorts of revenue opportunity within the track.

He will be able to get under the trip -- into the track for under $100. once you get to the race track and see a race, we feel like it is so easy to continue that.

To continue renewing that fan base.

We get you here once and you're hooked.

Why not spend on the cars?

We have invested across the board.

We are investing in ideas in daytona rising.

A lot of money from nascar has been put into rmb and improving the safety of of the cars.

-- into rnd and improving the safety of the cars.

That changed the dynamic of the track.

Why are things slowing in terms of viewership?

We look at viewership as a long-term.

It is often times fickle.

They are experiencing our product in other ways.

We don't look at viewership as specific time frames.

It is a long-term.

People are not looking up, but looking down.

Are they going to be able to embrace social media while being nascar fans?

Absolutely.

That is a total necessity.

We've been to different venues where you lose connectivity.

It is not a fun experience.

You want to tell your fans where you are and what you are experiencing and how much fun you're having.

We like to get that right.

And extreme nearly idea.

Clearly a big plan.

Massively expensive.

In what year will you know if this has paid off?

It will be several years.

You see the continued rollout.

You will see a lot in 2016. you will see the enthusiasm.

That momentum will continue to boost our confidence in reinvesting.

Does that mean you want to open more racetracks?

Right now, we're focused on the ones we have.

Making sure those are up to par and continuing to modernize them.

There you have it.

It is amazing that there is not

This text has been automatically generated. It may not be 100% accurate.

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