A mathematical symbol called “infinity” shut down Marcus Smith’s plans to become a doctor, but his true talents and connections to NASCAR created infinite options for the Vice President of Business Development at Speedway Motorsports.
Many people would think the son of renowned promoter Bruton Smith was born to his ultimate position within the empire, but the elder Smith required each of his children to work his way through those options – yes, work. In a story reminiscent of the Earnhardt family, Marcus recalled mowing acres of grass and washing fleets of cars while growing up around his dad’s businesses.
As a college student at the University of North Carolina (UNC) in Chapel Hill, he actually tried both doctor and journalist – with the latter giving him communications skills that would later serve him well.
“In the pre-med math class, we started talking about the infinity symbol,” Smith said. “I didn’t exactly get it, and unfortunately, everything after that was all about it.”
One career that never interested Smith was driving a race car. Like his famous father, he has always focused on the people who really drive the sport: the fans. In the 1950s, Bruton Smith was already laying a foundation for a company that has made “the fan experience” its primary reason for existence.
A true pioneer of stock-car racing, his humble beginnings were the fairgrounds of his native North Carolina. Renting the arena, recruiting the racers (sometimes from the parking lot) and promoting the big event eventually resulted in the construction of NASCAR icons such as Lowe’s Motor Speedway. The Smiths have also been leaders in developing deluxe accommodations – aka the Speedway Clubs.
Today, Marcus works closely with the managers of his family’s tracks in Concord, Atlanta, Bristol, Texas, Las Vegas and California (Sears Point). Their goal is simply to be recognized for having the best tracks to visit, but a tremendous amount of behind-the-scenes effort goes into that simple vision.
“A lot of our brainstorming sessions are not very exciting,” Smith said. “We may spend a few minutes talking about the width of a concourse or a few hours on the distance between seats or a new way to serve beverages so a fan could carry four without spilling them. There are a lot of small and big ideas that contribute to the fan’s enjoying themselves here.”
Speaking of the big ideas, Smith is also an integral part of the team that determines where NASCAR is headed – geographically and otherwise. Despite all of the soil-related problems that originally plagued Texas Motor Speedway, Smith calls the construction of that facility one of the smartest moves his company has made. On a smaller scale, Speedway Motorsports conducted a survey to decide whether to lower beer prices at the concession stands, saving fans the inconvenience of carrying coolers into the track.
The fans spoke and Smith listened. Both prices and coolers remain.
Smith has the final say on many aspects of his company’s growth. Although he points to his father as the real innovator and leader of their ventures, he said Bruton is a “hands-off manager.” He paints a picture of the dynamic billionaire that is anything but ruthless and overbearing.
“He is extremely patient,” Marcus said. “A lot of people would be surprised to know that about such a successful businessman. He guides the company in developing goals, but he believes in hiring a quality person and letting that person do his or her job. He also manages by example. He sets a high standard with his work ethic and expectations. He raises the bar for everyone.”
Despite his massive responsibilities, Smith said he is not a workaholic. He places God, family and friends above duty, and his favorite pastime is spending time with his wife, Cassi, and two children, Graham, 4, and Gracie, 18 months. The emphasis on family life, he says, is another trait inherited from his father. Marcus has two brothers, Scott and David, (president and COO of Sonic Automotive and general manager of Town and Country Ford, respectively) and one sister, Anna Lisa, who is in college.
The NASCAR family is fortunate to have the Smith family setting a pace for excellence.
