Momentum made in renovating and reopening Southside Speedway

The potential of short track racing retuning to Southside Speedway in Midlothian, Virginia took a significant step forward last week.

At a board meeting on Wednesday, December 13, the Chesterfield County Board of Supervisors requested the Economic Development Authority to opt into a proposal that would resurrect and renovate the venerable short track.

“The board unanimously directs the Chesterfield County Economic Development Authority to enter in negotiations for a ten-year ground lease purchase and master plan with Competitive Racing Investments LLC to renew racing at southside speedway,” said Supervisor Chris Winslow.

The negotiations will revolve establishing a ground lease for the 64-year-old, 0.33-mile track while also building upon the 30 undeveloped acres on the property. The entire grounds are owned by the county, whom purchased it in 2021.

The track closed after the 2020 season.

Under the proposed agreement, the county would retain ownership of the race track until the developer makes all payments to purchase it. Competitive Racing Investments would own the entire value of improvements it makes to the facility.

Competitive Racing Investments is operated by longtime racer and track devotee Lin O’Neill with support from an unnamed investor.

Chesterfield County had been contemplating redeveloping the entire grounds to something that would compliment the newly built Rover City Sportsplex built nearby with various proposals that included retail, hospitality and entertainment amenities.

But speedway supporters have become fixtures at Chesterfield County Board of Supervisors meetings over the past three years. O’Neill’s proposals have called for making Southside Speedway more than just a short track but a facility that could host numerous revenue generating events.

During the meeting, Winslow also said the negotiations must also include room for an indoor soccer facility somewhere on the facility that could house 8-10 multi-use fields.

The EDA have been reviewing the letters of intent it has fielded and discussions around them will take place at its next meeting on Thursday night.