June 2018

230 231 Southeast Financial Center 200 S. Biscayne Boulevard, Suite 850, Miami, Florida 33133 305.374.5300 | www.BRZoningLaw.com Proud Sponsor of Homestead Miami Speedway Shareholders Melissa Tapanes Llahues, Jeffrey Bercow, Ben Fernandez, and Michael Larkin THE HOMESTEAD-MIAMI SPEEDWAY series: the Monster Energy NASCAR Cup Series, the Xfinity Series, and the Camping World Truck Series, all spon- sored by the Ford Motor Company. “NASCAR drives about 95 percent of the revenue,” Garcia reports.”The rest we do in track rental – that can be a 5K, a triathlon, research and devel- opment by the racing industry, film, or amateur races. So, we’re there 300 days a year with a ‘hot track,’ as they say, running something.” The track’s overall economic im- pact to the region is estimated to be approximately $320 million a year, proving that Sanchez’s gambit has apparently paid off, handsomely. And while business trailed off, somewhat, during the Great Recession, Garcia says that is has come back and he is “cautiously optimistic,” going forward. “NASCAR fans are extremely loyal and the rank and file show up,” he states. “The events were still a sellout or near sellout. And our race is the champion- ship race – the last race of the season. And it’s a bucket list item that NASCAR fans want to attend.” Miami is a four-sport town, home to the NBA’s Miami Heat, the NFL’s Miami Dolphins, the MLB’s Miami Marlins, and the NHL’s Panthers – all playing in newer or more newly up- graded venues. “So, we are competing for discretionary dollars from sports fans and event-goers,” Garcia admits. “There are more modern arenas and more amenities elsewhere, but we invest every year to try and catch up.We’ve replaced some of the mechanical systems that have outlasted their useful life.Where we can make a difference is in spending money that touches the masses. For example, this last year we created a new tram plaza and upgraded