Mark Faber, Executive Vice President & General Manager, Texas Motor Speedway
Texas Motor Speedway Executive Vice President and General Manager Mark Faber sat down with Invest: to provide an overview of the Speedway’s varied operations. While it emphasizes a core focus on motorsports, the Speedway has expanded its offerings to include various other events, positioning it as a compelling tourist destination.
What is your overview of Texas Motor Speedway’s operations?
We opened in 1997, sitting on a 1,500-acre campus in Denton County that includes an oval track for motorsports races. The Speedway hosts a triple-header NASCAR Cup weekend on May 2-4. We offer multiple year-round driving schools where fans and companies can come out and drive our oval or road course like the racecar drivers. At times we allow clients to bring their own private vehicles for events on our tracks.
Our Speedway Club building provides multiple entertainment opportunities and includes a ballroom, restaurant, and both indoor and outdoor event spaces. We also have another facility with 102,000 square feet of office space and 76 condominiums that overlook the Speedway, so we have expanded from motorsports to diverse events and operate as a multipurpose facility, though we are still focused on racing and motorsports at our core.
What were the key highlights from the past year?
The past two years have been extremely successful for us, and we try to continue to position ourselves as a sports and entertainment destination, in addition to the emphasis on motorsports. We have hosted musical festivals, auto shows, and children’s charity events, with a total of more than 75 outdoor and 150-175 indoor gatherings comprised of chamber and client functions and conferences.
How is the addition of the new dirt track enhancing the Speedway’s offerings?
We have a 1.5-mile oval track and an interior 9-turn, 1.36-mile road course, with two dirt tracks outside the oval. This gives us the ability to have sprint car racing or various types of races. We recently re-opened our half-mile dirt track, which holds 11,000 people. Last year, we held approximately 12-15 events there, with a similar number expected this year. It brings a unique opportunity for fans to see racing up close. Many NASCAR or Xfinity drivers start on dirt tracks. We also have a go-kart track, which is an introductory area for people to start learning how to drive.
How are you reimaging your strategy to remain prominent in modern sports?
We had a long-standing relationship with INDYCAR, and we were second only to Indianapolis Motor Speedway in continuously hosting INDYCAR oval races in North America. With the change of our NASCAR Cup weekend to the spring, we were not able to find a mutually agreeable date to run an INDYCAR race here. We also manage the NASCAR race at the Circuit of the Americas in Austin, Texas, so this year, we had two races within a couple weeks and were not able to schedule INDYCAR, something we are facing again in 2025. INDYCAR is pivoting to new strategies, with the street race in Arlington in 2026, as well as their move of the 2024 season finale to our Speedway Motorsports sister track Nashville Superspeedway. We are a preeminent facility in the industry, so the door is always open for that circuit, as well as others, to come to the Speedway.
What makes Fort Worth an ideal location for Texas Motor Speedway, and how does the location add to your business strategy?
We are centrally located, here in North Texas. Dallas-Fort Worth is the fourth-largest market in the United States, and will likely be the third largest by 2026. Fort Worth is the fastest-growing city in the country, and Texas is certainly a growing market. We feel well-positioned for the future. Our diverse programming includes a “fiesta-type” element during NASCAR weekend, as it falls near Cinco de Mayo. Fans come from all 50 states and over 15 countries, including Canada, Mexico, Australia and Europe. Our proximity to a major airport ensures steady accessibility.
How does the Texas Motor Speedway act as an economic engine for the DFW region?
We serve as an economic catalyst for tourism and attract visitors from across the globe. In addition to our NASCAR Cup weekend, we host other major events like Super Motocross. Along with our permanent employees, the Speedway employs hundreds of part-time staff to support event operations. In addition to being an economic engine, we are a tourist business destination.
Can you explain a few of the challenges the Texas Motor Speedway faces?
One challenge is the size of our market. We are in a highly competitive sports and entertainment market, but while this brings challenges, it also generates opportunities. Texas Motor Speedway is one of the most affordable options for spectators, and the Speedway is heavily promoted for its value, with a family of four able to attend a NASCAR Cup Series race from $180, with kids 12 and under tickets only $10, free parking and options to bring your own food and beverages. We also have easy ingress and egress for events, and we focus on niche events and creativity to attract increasingly diverse audiences.
What projects are planned to continue improving the fan experience?
The facility is approaching its 29th year, and its age comes along with the need for significant maintenance and improvements. The Speedway ownership through the Smith family has invested in multi-million-dollar upgrades, including a 22,692-square-foot Big Hoss TV video board with improved resolution and brightness. We also offer enhanced seating in the grandstands with food and beverage rails and expanded bar areas. We’ve moved the Texas Motor Sports Hall of Fame from an enclosed environment to an outdoor concourse directly in front of our Speedway Club building, free of charge. There are also plans to upgrade our indoor events by making enhancements to the ballroom spaces.
What is your outlook for Texas Motor Speedway over the next two to three years?
The industry is still recovering from the pandemic, and expectations have shifted for live events. We will continue to place an emphasis on incentivizing attendance, which we call “de-couching.” Nothing compares to live sports and entertainment experiences. We have plans for our NASCAR weekend to include a “Smoke and Sizzle” fan zone with features such as live music, camping, and weekend-long entertainment. We also have plans to expand fan engagement with surveys to better understand customer preferences. Part of our May 4th celebrations will include a Star Wars theme and Cinco de Mayo programming.
I anticipate that we will continue embodying our core mission. We are in the “fun business,” and we are dedicated to focusing on delivering memorable experiences.
