While NASCAR is hoping to get the Chicago Street Race back to Grant Park next summer, it may have hit a speed bump in negotiations for a state grant to help defray costs for the event.
The Department of Commerce and Economic Opportunity said Wednesday that the state has appropriated $5 million in the fiscal year 2027 budget to NASCAR “for costs associated with operating expenses” next summer.
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The problem, first reported by Crain’s Chicago Business, is that NASCAR was seeking $15 million from the state for next year’s event – up from the $5 million grant it received for the last Chicago Street Race in 2025, according to a source familiar with negotiations.
NASCAR did not specifically address the reported $10 million funding gap Wednesday, but issued a statement touting the economic impact of the Chicago Street Race while confirming a deal is not done to bring it back in 2027.
“NASCAR has been discussing the return of the Chicago Street Race with key city and state officials,” NASCAR said. “We hope those discussions are successful, but no final decisions have been made.”
From 2023 to 2025, NASCAR turned Grant Park into a pop-up urban racecourse over July Fourth weekend, breaking new ground for the racing organization and the city. Despite battling torrential downpours and backlash from some residents and politicos, the nationally-televised street races generated significant economic impact and media exposure for Chicago.
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However, NASCAR paused the Chicago Street Race this summer to explore rescheduling the event away from Independence Day and to look for ways to speed up the build-out and breakdown of the temporary track, in response to concerns from the city.
This summer’s street race was held instead at San Diego’s Naval Base Coronado in June on a one-year deal.
But NASCAR didn’t abandon the Chicago area completely, filling the July Fourth void in its racing schedule with a return to southwest suburban Joliet. Chicagoland Speedway, which hadn’t hosted a NASCAR event since 2019, was packed with 50,000 fans from 31 countries and all 50 states for a successful racing weekend.
In fact, NASCAR was so pleased with the results, it is looking at the possibility of racing in Chicago and Joliet next summer.
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“It could be both,” Ben Kennedy, NASCAR’s chief operating officer, told the Tribune earlier this month.
Last month, the Tribune reported that NASCAR and the city were eyeing Memorial Day weekend for a possible return to Grant Park, according to sources, but Kennedy said no date has been set.
Kennedy said NASCAR in separate discussions with both Joliet and Chicago for next year’s schedule. But if negotiations drag on with the state over the DCEO grant, time may run out on the Chicago Street Race.
NASCAR is planning to finalize its 2027 racing schedule by August.
