Gossage talks business of racing (Photo by Austin Kilgore, The Daily Campus)

Texas Motor Speedway is a multi-faceted racing complex that brings millions of tax dollars to Forth Worth and Tarrant County, and it is a major impact on the Dallas-Forth Worth economy, according to track President and General Manager Eddie Gossage.

Gossage was the featured speaker at the SMU Cox Ernst and Young Management Briefing Series at the Fairmont Hotel in downtown Dallas on Thursday.

He shared with the audience of SMU students and members of the community the economic impact a NASCAR weekend can have on a city, and how TMS is maximizing its potential as a sports venue.

TMS plays host to over 300 other events annually. From track rentals to film commercials to driving schools and business meetings, Gossage said TMS has many opportunities for its clients. The track property has condominiums and office space for rent, as well as its Speedway Club, which has a spa, gym and restaurant.

Gossage said these amenities are important to businesses that use the facilities in conjunction with its racetrack experiences to impress their clients.

“You can go play golf, there’s nothing wrong with that, but there is nothing like going deep down into turn one at 150 mph with your foot all the way down on the gas and hoping it sticks,” Gossage said.

Gossage compared TMS to other racetracks in the country as well as some of Dallas-Forth Worth’s other sports venues.

He said TMS is the second largest racetrack in the country next to Indianapolis Motor Speedway, the site of the Indy 500, and brings more spectators than the Daytona 500, the first race and crown jewel of the NASCAR season. Gossage added the track is so large, it could hold eight Texas Stadiums in its infield.

The key to TMS’ success is the way the track caters to its fans, Gossage said. The track has more luxury suite seats than any other sports venue in the country, and more paved parking than Walt Disney World. More importantly, parking is free. Gossage also added that TMS has more restrooms than any sports facility in the world.

“We’re really in the business of the three T’s, traffic, tickets and toilets. Those are the things that affect fans enjoyment the most,” Gossage said.

Gossage said the second reason TMS is so successful is its corporate sponsorship. One hundred and six Fortune 500 corporations sponsor NASCAR in some form. Sponsors spend millions on the sport in hopes of earning fans’ affection and money.

Gossage said the Brookshire’s grocery store chain recently paid to become the official grocery store of TMS, and on race weekend it will erect a tent that will house a full service grocery store to serve the approximately 40,000 fans who camp at the track.

Gossage said sporting venues are vital to the development of a major city. He warned the audience that Dallas may lose the Cotton Bowl if Dallas officials do not act quickly to enhance the facility. He also said he was concerned about the future of the Indy Racing League.

“They’re like an alcoholic,” he said. “They’ve got to know they have a problem before they can fix it. They aren’t running their business well.”

Gossage joined Texas Motor Speedway as executive vice president and general manager in 1995. He began his career as the public relations director of Bristol International Raceway in Bristol, Tenn. He later joined Miller Brewing Company and managed their motorsports public relations campaign. He worked at TMS’ sister track, Charlotte Motor Speedway in North Carolina. During his time in Charlotte, Gossage helped the track’s parent company, Speedway Motorsports, Inc., go public.

While at TMS, Gossage led the first nighttime IRL race, helped TMS get a second NASCAR NEXTEL Cup race and served on the Dallas 2012 Olympic Exploratory Committee.

Cox School of Business Dean Albert Niemi admitted he is not a big sports fan and has never been to TMS, but the track’s success is unquestionable. Niemi said students can learn from Gossage.

“We have a lot of great speakers at this series, and there is no common thread amongst them except they have great interpersonal skills. Eddie Gossage is a great example of what to do to get ahead,” Niemi said.

TMS will host the International Race of Champions, NASCAR Busch Series and NASCAR NEXTEL Cup races during the April 7-9 weekend.