Speedway mogul thinks one way: Big

Smith said he never plannedto be leader in industry

By Kevin Kelly - Associated Press

SPARTA — A chocolate-covered ice cream bar cost a dime back in Bruton Smith's high school days.

The son of a farmer and the youngest of nine children, Smith learned the value of hard work by getting his hands dirty. And to see another kid strut around the lunch room devouring ice cream day after day when Smith could afford a treat maybe once a week — boy, did that stir something inside him.

”I thought, "Man, someday I hope I have enough money that if I want a Dove bar, I can buy one,' “ he said.

Visit Smith's office today in Charlotte, N.C., or the owner's suite at any of his seven racetracks, and you'll find Dove bars stocked in the freezer. You can bet there will be Dove bars at Kentucky Speedway, too, when it belongs to Speedway Motorsports Inc.

Smith, 81, is the billionaire chairman and CEO of the company that is buying the Sparta track with the intention of bringing NASCAR's Sprint Cup series to it.

”I'm really excited about this whole deal,“ Smith said by phone recently.

He claims he didn't map out a plan to become one of the most influential men in auto racing, or one of the richest people in America, but that it just happened by taking one little step after another.

From tiny Oakboro, N.C — it's ”nowhere,“ according to Smith — to No. 317 on the latest Forbes 400 list with an estimated net worth of $1.5 billion.

”What got me started was trying to get a better car,“ he said. ”I bought a car, sold a car, bought a car, sold a car. I was really not interested in the business part but just trying to get a better car. Then, when I was 17, I bought an old racecar, an old modified car. I decided, maybe I'll be a professional racecar driver.“

Wide-open and belly to the ground — that's how Smith describes his driving style. His father, James, didn't mind the racing. His mother, well, she wasn't keen about it.

”Mom started fighting dirty,“ Smith said. ”She started praying that I would stop. When she did that, I stopped. I thought, "Man, I can't battle that.' “

And that's about the time when a group of drivers thought it would be a good idea if he promoted a race.

”Made a few dollars and decided, "Well, I think I'll try this again,' “ Smith said. ”The second time I made a few more dollars. So, just step by step. Nothing was ever planned. It would just happen.“

He remains a promoter at heart. And his tracks, which host 12 Sprint Cup points races and the series' All-Star Race, are the standard by which others are measured.

The Bruton-izing of Kentucky Speedway will include adding seats — 50,000 and maybe more. Industry insiders anticipate he also might change the garage layout, making it more fan-friendly — like the Neon Garage at Las Vegas Motor Speedway — and add more banking to the track.

Smith also plans to organize a Kentucky Speedway chapter of his Speedway Children's Charities after he takes ownership of the track in October.

He founded the charity in 1984 as a tribute to a son who died suddenly at a young age. Chapters support the communities surrounding SMI's tracks, and last year they awarded more than $3 million to help provide educational, medical and social support to children.

”I've been able to put a lot back into everything I do,“ Smith said. ”I've made thousands of people millionaires and, other than my children, that is the greatest thing I think I've ever done.“

Retirement is not in his plans.

”I'll never retire,“ Smith said. ”I'm having too much fun. There are many, many hills to climb.“