CHICAGO, Ill. (WTVO) — New details showed that the City of Chicago is expecting up to 100,000 people to attend next year’s NASCAR street race at Grant Park.
NASCAR will be able to access parts of the site up to 21 days before the race and for 10 days after, according to documents obtained by Crain’s Chicago Business. The racing company will pay the city $550,000, plus $2 from every ticket and a percentage of concessions and merchandise sales.
By comparison, the four days of Lollapalooza guarantees the city $2 million plus benefits from sponsorships.
“In the Lalapalooza contract there’s, you know, they get a cut of the sponsorship. They get a cut of the streaming of the concert,” said Justin Laurence of Crain’s Chicago Business. “That’s not gonna happen here, so the city in all likelihood will make much less money.”
Chicago Alderman Brendan Reilly, whose ward includes Grant Park, said that it is a bad deal and wants the agreement shared publicly with the city council.