ISC Approves Daytona Redevelopment Plan
There will be no capacity changes for the 2014 Daytona 500. The eventual decrease in capacity could occur in stages following the 2014 Daytona 500 and will include the complete removal of the backstretch grandstand by the start of the 2016 motorsports season. By moving all seating to the front stretch, all attendees will have the opportunity to enjoy a full race day experience including pre-race ceremonies, pit road action and the facility’s new amenities.
“We will take great care of our loyal existing customers throughout this renovation,” said John Saunders, President of ISC. “They can expect to receive additional direct communication as we proceed with construction.”
The redevelopment will also provide an expansive platform for ISC’s corporate marketing partners. Hospitality is elevated with a completely revamped design that will exceed partners’ expectations for a more intimate, affordable and effective experience. The new front stretch will include 53 suites that will offer superb views of the track.
Daytona Int’l Speedway and ISC’s operations in Daytona Beach generate $1.6 billion in annual economic benefit to the state of Florida. Following an unsuccessful bid for a public / private partnership with the State of Florida during the most recent legislative session, the Company was forced to reduce the scale of its redevelopment plan. Among the features that were revised and no longer included in the redevelopment plan was a major overhaul of the midway area.
“It is unfortunate we are forced to scale back some elements, but the project will be designed for additional enhancements should future economic incentives present themselves,” said Saunders.
In 2014, the Company intends to pursue incentives including those currently available to all other major sports venues in Florida. ISC will reevaluate additional potential amenities based on the outcome of those efforts.
Construction for the redevelopment project will begin after the 2013 Coke Zero 400 NASCAR weekend. As a result, the redevelopment will impact certain ancillary events at the Speedway through 2014. However, major races such as those associated with Budweiser Speedweeks, the Daytona Supercross by Honda, the Daytona 200 and the Coke Zero 400 Powered by Coca-Cola, will be held as scheduled. Additional information on events beyond 2014 will be provided upon completion of the full construction schedule.
“The redevelopment of Daytona Int’l Speedway reaffirms its status as the ‘World Center of Racing’ for years to come,” said Ms. France Kennedy. “It is imperative that we build upon my grandfather’s vision to create a world-class facility with premium amenities to provide unparalleled experiences for our guests and partners. Doing so will ensure that the Daytona 500 and all our other events continue to drive our business while serving as a significant economic engine for the region.”