The NASCAR Hall of Fame lost $1.6 million during the fiscal year ended June 30, results disclosed in newly released annual financial figures compiled by the Charlotte Regional Visitors Authority. The $200 million auto racing museum, which opened in May 2010, has run deficits since its inception. Tom Murray, the visitors authority CEO, told me in an interview at his office Wednesday, ‘The ultimate goal for us is to make money” at the hall of fame. A pre-audit report provided by the visitors authority showed the deficit for fiscal 2012 was $835,281. The numbers were calculated differently, so making a direct comparison and saying the deficit doubled is difficult. The 2012 figure excludes money for improvements to the exhibits allocated after construction had started; for the fiscal 2013 statement, that expense totals $900,000. A CRVA spokesperson said the comparable deficit for 2012 was $1.8 million. Despite the deficits in fiscal 2013, Murray said the results beat projections by $600,000. If youre confused, the simple math works this way: the NASCAR Hall of Fame is still losing a lot of money and the visitors authority is revamping sales and advertising tactics to turn things around.(see full story at the Charlotte Business Journal )
