Daytona Beach, FL (Sports Network) - Officials from Daytona International
Speedway outlined plans for a proposed redevelopment project for the famed
Track president Joie Chitwood III revealed during a press conference on Friday
information about redeveloping the grandstand area along the frontstretch,
which would include more fan amenities and redesigned entrances into the
venue. DIS opened in 1959 and has hosted the Daytona 500 each year since then.
"When we invest in our properties, there's certain value and it makes sense,"
Chitwood said. "So as we talk here today, it's about that next vision and
opportunity, the things that are important to us.
"So as we look back at 50 years, it helps us guide how we want to invest and
look to the future and make sure that we take this vision, whether it's the
fans, the sponsors or the teams, everyone who comes to Daytona will have a
story to tell."
Chitwood noted that International Speedway Corp., which owns and operates the
racetrack, would invest at least $250 million in reconstruction costs for the
property, pending approval from ISC's senior management. The project might be
impacted by Florida state legislation that would include tax incentives for
surpassing significant private investment levels. Chitwood did not announce a
timeline of when the project might begin. He did state that the renovation
would not affect the Daytona 500, which is held in February. It could have an
impact on the NASCAR races there in the summer.
DIS currently has a seating capacity of 146,000.
The Sports Network