The Las Vegas Convention and Visitors Authority has extended a sponsorship agreement with the Las Vegas Motor Speedway designed to keep two NASCAR races a year at the track through 2031.
Board members on Tuesday unanimously approved the contract that was set to expire in 2024.
The LVCVA is scaling back the annual sponsorship amount that had been $2.5 million a year. Under the new terms, the sponsorship will be reduced to $750,000 in the 2021 fiscal year, $1.625 million in Fiscal 2022 and $1.75 million in subsequent years.