Marcus Smith hopes feud will be resolved

CONCORD, N.C. -- The inaugural run at the new zMAX Dragway is this weekend in Concord. On Wednesday in Charlotte, the National Hot Rod Association drivers celebrated.

But the deal that brought that facility to the area is far from signed on the bottom line.

NewsChannel 36 reporter Bobby Sisk talked exclusively to speedway General Manager Marcus Smith for his take on what's next.

Smith says the zMAX Dragway that his father built is off to a successful start.

"The fans just come out of the woodwork. We're already sold out for Saturday. We're going to be sold out for Sunday," Smith said.

While the fans enjoy the speed, the agreement that helped get the facility built is in limbo.

"It's really unfortunate. We'd like to have it put to bed," Smith said.

The debate centers on an $80 million infrastructure improvement package agreed upon by Bruton Smith, the city of Concord and Cabarrus County.

"None of it is going to build any grandstands or suites or parking lots," Marcus Smith said.

In the package, the track would front the money for road expansions and other improvements. But the agreement never clearly states when that cash will be paid back.

The Smiths thought two to three years, but some county leaders thought 40.

"There's no interest tacked onto that," Marcus Smith said. "In 40 years, $80 million that we would be fronting for the county and city would be equivalent to about $20 million. So that is a $60 million loss the county and city are asking us to take for building roads."

Smith says Speedway Motorsports is trying to work with the city and county and sent over a new agreement, spelling out clear guidelines for repayment, late last week.

"We're waiting on that agreement to come back," Smith said. "It's a challenge for us. We hope to get it put back together."

And so does the mayor of Concord. Scott Padgett told NewsChannel 36 by phone late Wednesday that he thinks this can be resolved.

But he stressed there was no timeframe agreed upon for repayment. As for when the city and county will take up the new agreement, Padgett says nothing is scheduled right now.