Unable to purchase NHRA, Bruton Smith, Chairman and CEO of Speedway Motorsports, will own the four top facilties on the circuit with the announcement of the construction of his fourth dragstrip, a facility already being heralded as the “Crown Jewel” of the NHRA circuit just across the street from Lowe's Motor Speedway. Smith estimates construction cost will run upwards of $60 million dollars. With four facilities, Smith will now play host to five NHRA events, or 20 percent of the schedule.

Appropriately, the NHRA has awarded Smith a premier date to debut the as yet unnamed facility. The NHRA Carolinas Nationals to be held on September 11 – 14 will mark the first event in the newly formated NHRA POWERade Countdown to the Championship; a six race run among the top ten drivers in each of the pro categories.

The strip is currently being called The Dragway @ Lowe's Motor Speedway, but Smith is asking fans to name the facility by participating in a contest at www.lowesmotorspeedway.com. The individual submitting the name chosen for the facility will receive a VIP experience during the inaugural NHRA Carolinas Nationals.

"I love to build things and this is an exciting project because we are going to build the crown jewel of drag strips," Smith said following the unveiling, which was part of the NASCAR Sprint Media Tour hosted by Lowe's Motor Speedway. "Drag racing is the perfect compliment to the wide variety of motorsports entertainment already on the schedule here at Lowe's Motor

Speedway. 

"We are constantly looking for ways to grow our business and the success of NHRA racing at our other tracks told us that adding a drag strip here was a tremendous opportunity," Smith added. "Plus, there is just something special about a race car with 7,000 horsepower."

Representing the NHRA at the announcement, Tom Compton, President of NHRA, signed the contracts  between the NHRA and Speedway Motorsports following the announcement.

“Bringing NHRA POWERade Drag Racing to Charlotte, which has evolved into a hot bed for motorsports, makes perfect sense,” said Compton. “The fact that SMI is building yet another first-class facility to entertain our fans, sponsors and race teams speaks volumes to the future growth ahead for the NHRA and the NHRA POWERade Drag Racing Series.”

Very little was left unanswered during the press conference. Unanswered was the question of whether the new facility would be a two-lane (traditional) or a four-lane facility. Smith wants to build a four-lane facility which would speed up the running of the Lucas Oil Drag Racing Series competitors. However, plans handed out after the announcement detail  two-lane facility. Smith acknowledged there were insurance issues to be resolved before a four-lane surface could be built.

Construction of the facility will include sound absorbing features to lessen the noise impact on surrounding areas, along with 30,000 steel and aluminum seats, with expansion to 90,000 if needed. There are 28 VIP suites planned.