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Reports say NASCAR Hall of Fame is losing money

NASCAR Hall of Fame (photo by Flame37fighter via wikipedia commons)

There are news reports that are saying that the NASCAR Hall of Fame lost $1.6 million in the fiscal year that ended two months ago in June.

However, the Charlotte, North Carolina tourism officials think that the Hall’s finances will improve in the future.

Hall of Fame attendance in its first year was 272,000.

In the second year, the gate fell off to just under 198,000.

In the fiscal year that just ended in June, the attendance was around 177,000.

Newspaper reports say that debt comes from construction loans and royalties to NASCAR. The operating loss of $900,000 was paid for by the Charlotte Regional Visitors Authority from reserves.

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