The deal to keep Lollapalooza in Chicago for the next 10 years guarantees a larger minimum payment to the city than that of the new NASCAR race beginning next year, while the NASCAR race has longer windows for both setting up and tearing down, according to the contracts for both Grant Park events obtained by NBC 5 Investigates.
"If I said that, I misspoke," Lightfoot said when asked about the deal at an unrelated event Monday."The $2 million comes to the city and then in addition to that, C3, as it has for a number of years, has committed to providing additional resources to CPS."
As far as other investments, the deal shows C3 will"make a $100K commitment to Tennis Court renovation." "This is going to be a very profitable event for NASCAR with all of their marketing, with all of their branding, and all of their side deals, they’re going to do quite well on this, they’re making dollars and we’re making pennies," Hopkins said earlier this month, when NBC 5 Investigates showed him the details of the NASCAR agreement."This is a bad deal for the taxpayers. Even if you’re a NASCAR fan, the city left a lot of money on the table.
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