Smith is trying to build trust

But track owner unafraid of change

By Michael Vega, Globe Staff  |  November 4, 2007

FORT WORTH - The first thing O. Bruton Smith would like you to know is that, despite his gruff persona, the "O" does not stand for "Ornery." Ostentatious? Maybe. But definitely not ornery.

Actually, it stands for Ollen, his given first name and the reason he'd prefer it if you'd call him by his second name, Bruton, or even Mr. Smith, if you didn't mind.

The second thing the 80-year-old chairman and CEO of Speedway Motorsports Inc. would like you to know is that he's not only a racer at heart, he's a builder. "A frustrated builder," he said. "I just really like building things."

Things such as racetracks ringed by tens of thousands of gleaming new seats, luxury skybox suites, palatial condominium towers, and infields that are more amusement park than motor home park.

While no one expects Smith to "Bruton-ize" New Hampshire International Speedway after buying it from Bob and Gary Bahre for $340 million in cash, the news of SMI's acquisition of the 1.058-mile oval in Loudon, N.H., sent fears rippling across New England that NHIS - which was renamed New Hampshire Motor Speedway - will lose one, or possibly both, of its lucrative Nextel Cup dates.

About that, Smith has something else he'd like New England race fans to know:

"Tell 'em not to be nervous, get your tickets early, because we will be sold out next year," Smith said, referring to the 26 consecutive sellouts the Bahres had at their 91,000-seat facility, including the 101,000 fans for the Sylvania 300 Sept. 16, the same day the Red Sox hosted the Yankees at Fenway Park and the Patriots hosted the Chargers at Gillette Stadium.

"Mr. Bahre set a goal there and he put the rung on the ladder rather high with all the events that have been sold out in Nextel Cup, and we'll attempt to do the same thing," Smith said. "You didn't ask me if we were going to add any more seats, but we're going to take a look at that as well. I think we're going to make enough changes there that you're going to like some of 'em."

And that's yet another thing Smith would like you to know: He's not a carpet-bagging collector of tracks who strip-mines them of their assets. Quite the contrary. With the six previous tracks he has acquired, it's been Smith's track record to build up rather than tear down and mothball. The only time he didn't was when he entered into a 50-50 partnership with Bahre in 1996 to purchase North Wilkesboro (N.C.) Speedway and split its two Cup dates.

"Well, look at what he's acquired," said Chris Powell, executive vice president/general manager of Las Vegas Motor Speedway, speculated to be a beneficiary of SMI's acquisition of NHIS with the possible addition of a second Cup date. "Atlanta? Much better off than when he got it. Bristol? Much better off than when he got it. Infineon [Raceway]? Much better off than when he got it. Las Vegas? Much better off than when he got it.

"I don't think you can say that he strip-mines [tracks]."

Jeff Byrd, president and general manager of Bristol Motor Speedway, said he initially balked when Smith was wooing him from R.J. Reynolds to run SMI's then-newest acquisition. But SMI put more than $200 million into the track.

Smith grew up in Oakboro, N.C., the son of a cotton farmer, who was drawn to cars after attending his first auto race at 7 years old. It launched a life-long love affair that led him to buy his first racecar at 17, and start Sonic Automotive, which ranked as the nation's third-largest dealer group in 2004.

His real passion for building and buying, though, was sparked when he founded Charlotte Motor Speedway in 1960, lost it to bankruptcy, then reacquired it through a silent accumulation of stock until he held a majority share, which enabled him to found SMI. That holding company now owns seven tracks from coast to coast, hosts 12 Cup dates, including four Chase dates, and represents an investment of $2.5 billion in the racing industry.

While it has been speculated NHIS might lose one of its dates, those who know Smith say he wouldn't spend the time or the money making improvements to the track if he didn't intend to keep both lucrative Cup dates in the Granite State.

"It does make money now and, of course, our goal is to always be making money, and we'll be working hard at that," Smith said.

He's said his desire is to help Las Vegas land a second Cup date and help Texas Motor Speedway move its November Chase date away from the opening of deer-hunting season, and Smith's acquisition of NHIS appears to give him the ability to leverage a deal with International Speedway Corp. that would enable him to achieve those objectives and allow NHIS to keep its spot as the first race in the Chase.

"I've told you what we've invested in this industry [the $2.5 billion]," Smith said. "Here again, I'm obligated, obviously, to help build this sport. It's NASCAR's interest and my interest, and ISC's. We've worked together and we have a good relationship and we'll continue walking down that road, holding hands, and building and building and building. That's my goal: to make it better."

Michael Vega can be reached at vega@globe.com.