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April 08. 2013 3:55PM

NHMS owner sues North Carolina over $80M in incentives never paid

RALEIGH, N.C.—The mogul behind one of the country's largest auto racing track operators is trying to resurrect a lawsuit claiming local officials reneged on an offer of $80 million in incentives to land a new drag strip and upgrade the Charlotte Motor Speedway. It's not clear if SMI—which owns the track and seven others in Georgia, Tennessee, California, Kentucky, Nevada, New Hampshire and Texas—has yet seen any of the $80 million announced in 2007. A track spokesman declined comment and lawyers for both sides did not respond to requests for comment last week.

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