"NASCAR is at the mercy of the fans": When Richard Petty shared hard truth behind sport's economic challenges

In 2008, NASCAR legend Richard Petty spoke about how rising gas prices created problems for the sport and its fans. He explained that fewer people were attending races even though the TV ratings were improving.

During the global financial crisis, average gas prices were at a record high of $4.11 (about $5.90 today) per gallon. And, according to the seven-time NASCAR Cup Series champion, these gas prices made it harder for fans to afford to travel long distances.

"Nascar is at the mercy of the fans. The fans are at the mercy of gasoline. Television ratings are up but attendance is down, so it works out. It gets so expensive," Petty said (via NY Times).

He further talked about the solutions including cutting back on the NASCAR schedule.

"We usually go into a town on Thursday night. We could cut back a day or two, go in Saturday, go back Sunday, but then we are cutting back on the people at the motels. There’s no simple answer...The New York Giants were using more gasoline to fly to California for a football game than we are for a 500-lap race. If we cut 10 percent, the gas companies would raise the price," he added.

The fuel prices exceeded the old record in 2022 but they have not yet surpassed the inflation-adjusted peak. Meanwhile, NASCAR's TV ratings have been dropping over the past decade.

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"I feel really lucky" - Richard Petty on his NASCAR legacy

Richard Petty also shared his views on the new safety features NASCAR mandated after Dale Earnhardt's tragic accident in the early 2000s.

Earnhardt died from a basilar skull fracture after a final-lap collision during the Daytona 500. NASCAR later introduced the HANS device (Head and Neck Support), SAFER barriers at race tracks and a safer Car of Tomorrow (CoT).

In the same 2008 interview, Petty agreed that the new improvements could have saved Earnhardt and his grandson, Adam Petty who passed away from similar injuries in 2000. He also explained that earlier safety upgrades, like fire extinguishers and better seats, were added quietly.

Petty reflected on his long career in NASCAR and said:

"I feel really lucky. I was able to grow. I am Nascar. I am history. I was there. I put in my two cents and others put in their 98 cents. It makes you feel proud to be part of it. (via NY Times)

"The family name is still on the product, with that American original, King Richard, reassuring people that Petty Enterprises still keeps its roots, even with such a thing as a new majority invest," he added.

The COT was replaced by the Gen 6 car in 2013.