Billionaire Bruton Smith doesn't like waiting up to 40 years

Speedway owner frustrated over long repayment plan


--------------------------------------------------------------------------------

Adam Bell / The Charlotte Observer
Billionaire Bruton Smith doesn't like waiting up to 40 years to get his $80 million in incentives from Concord and Cabarrus County.

That's the message the 81-year-old Lowe's Motor Speedway owner conveyed to local leaders this week. Much of the deal Smith is receiving involves incentives that could take up to 40 years to recoup.

“(Smith) was frustrated over how long it was….He thought it should be less” time, county commissioners Chairman Jay White said Wednesday. He said Smith had called him Monday to voice his concerns, but did not go into specifics.

White suggested that Smith make a counterproposal, but did not know when that would happen.

Smith also spoke with Concord Mayor Scott Padgett this week. Padgett declined to comment, as did speedway spokesman Scott Cooper.

Smith landed the deal last November after threatening to move the speedway following Concord's attempt to thwart his plans to build a drag strip. In exchange for incentives, Smith agreed to stay, build the $60 million drag strip and make $200 million in renovations at the speedway.

more of this story @ http;//www.racegear.com



This guy is a pain in the tush huh? But thats what makes a billion.

Lee