An executive involved in Speedway Motorsports Inc.’s efforts to bring NASCAR national series racing back to Fairgrounds Speedway in Nashville, Tennessee, responded Tuesday to a report about the company’s talks with city officials.

SMI officials have had discussions with Mayor David Briley and his administration about how to finance the upgrades needed to the track to bring NASCAR national series races there. The Tennessean reported Tuesday that SMI pitched a plan that called for $54 million in bond payments and $2 million cash from the city. The proposal was rejected by Briley’s administration.

Jerry Caldwell, executive vice president and general manager of Bristol Motor Speedway, issued a statement responding to The Tennessean’s article.

“Our very first step has been to engage Mayor Briley to explore potential renovation of the speedway that would allow major races to return to Nashville. This renovation can be accomplished through a cooperative partnership by utilizing revenues from increased activity at the Fairgrounds and private investment without the use of current Metro tax dollars.

“Recognizing that the city has an obligation to maintain their racetrack long into the future, we are offering an opportunity for private partnership that delivers an attractive, long-term solution to improve a historic, public treasure that has been in decline in recent years.

“We look forward to sharing our proposal with the Fair Board, Councilman (Colby) Sledge and the neighboring community. We are confident that this partnership will achieve a brighter, more successful future for the speedway, the Fairgrounds and the community. We appreciate interest by the mayor and Fair Board so far because in the end we all want the same thing – a first class facility.”

During Tuesday’s Fair Board meeting, board member Jason Bergeron lamented a “transparency problem” with plans Speedway Motorsports Inc. has for Fairgrounds Speedway.

“It’s been eight months and we haven’t heard any details, and I don’t think there’s been any real talks with the community … it’s just a little frustrating,” Bergeron said during the meeting, according to video by The Tennessean. “We have these renovations ready to go with the speedway. It keeps going on and on. We have no concrete proposal and there has been no real engagement with the community.”

When asked earlier this month about Nashville hosting a national series race, NASCAR President Steve Phelps said on the Dale Jr. Download: “What’s going to happen moving forward into 2021? Are we going to be racing in Nashville or not? I don’t know. I know that at least I’ve been told, (Speedway Motorsports, Inc. CEO) Marcus (Smith) has had discussions with the folks in Nashville at the fairgrounds.

“How likely is that going to happen? Right now he has no sanctioning agreement for 2021, so he can’t bring anything there. If he wants to bring something there, obviously NASCAR has to have an involvement. They are our dates. We will absolutely (get involved) when it’s time.”