The track features numerous amenities, including a Speedway Club, condos, and a seven-story tower located on the complex for office space and souvenirs.

After a period of stability under the ownership of Richard Howard from the mid-1960s to the mid-1970s, Smith and his new partner, racing promoter and eventual longtime track general manager Humpy Wheeler, completed a takeover of Charlotte Motor Speedway in 1976.

According to then-general manager Richard Howard, original plans for the speedway included a road course, but this was cut due to budget issues.

By July 1993, construction started on a 1⁄5 mile (0.32 km) clay short track that was made to conduct dirt legends car races.

[28] Although the plan initially faced heavy opposition from local politicians,[29] the drag strip was eventually built after Smith threatened to close down the speedway,[30] coercing the city to give him an incentive package of approximately $80 million by leveraging fears that a closure would cripple the Concord economy.

[35] Crews discovered large granite veins beneath the soil shortly after breaking ground, forcing grading contractor W. Owen Flowe to use dynamite for removal, causing further delays.

[46] Accounts differ regarding what followed: Flowe claimed that multiple individuals, including Smith and Turner, threatened to shoot him and his workers if they did not resume work.

The State reported incomplete facilities on the first day, while the track's asphalt surface developed holes due to cars reaching speeds of around 130 mph (210 km/h).

[56] However, financial troubles followed on June 18, when officials were sued for $10,000 (about $102,992 today) by Roy E. Thomas, who claimed breach of contract after being fired from his role selling advertising space for souvenir programs.

Drivers such as Tom Pistone, Doug Yates, and Ned Jarrett reported mechanical failures, including blown tires, broken axles, and suspensions due to the track's rough conditions.

[59][58] Max Muhlehurn of The Charlotte News summed it up: "The 600 will go down in history as the only race ever run in which drivers were forced to dodge track blemishes more often than other cars.".

[67] On March 1, 1961, Flowe filed a civil lawsuit against the track, alleging breach of contract and seeking $138,155.28 (about $1,408,630 today) in reparations for construction costs.

[71] By August, despite an "unusually successful" 1961 World 600, the track warned stockholders that CMS was in "serious trouble" and could only achieve financial stability through immediate long-term financing.

[73] In a last-ditch effort to stop the foreclosure, several solutions were proposed, including securing a "miracle" loan and a plan for Smith to partner with investors to raise $600,000 to save the facility.

[79] Several loan offers were made to help resolve the facility's financial troubles, including separate proposals from businessmen Roger D. Edwards and Dwight Cross.

[89] By July, while Craven remained optimistic about saving the facility, preliminary findings of mismanagement and potential fraud led to the involvement of the Federal Bureau of Investigation (FBI).

[100] In mid-April, Craven approved the establishment of private ownership under an 11-person board of directors led by A.C. Goines, with the arrangement set to last for at least one year, effectively completing the reorganization process.

[113] In the mid-1970s, after a successful career in the car dealership business, Smith saw the potential profitability of reacquiring CMS, particularly with the R. J. Reynolds Tobacco Company and its subsidiary Winston sponsoring the NASCAR Cup Series starting in 1970.

[116] Howard was appointed as the facility's president, and later that year, he announced a $2.5 million (about $15,445,344 today) renovation project to enhance the track's appearance and expand seating capacity.

[110][123] On October 5, The Atlanta Journal-Constitution reported that the upcoming National 500 would likely be Howard's last race associated with the facility, with a final decision expected at the annual stockholders' meeting on January 30, 1976.

[135][136] During the official announcement on March 13, Smith declared he would move forward with the stadium project if the local government or private investors contributed $10 million.

In 1989, Wheeler created the NASCAR Sportsman Division, a series that had the intended goal of giving short-track drivers experience on longer tracks.

Three fatal crashes occurred within six years; David Gaines in 1990,[144] Gary Batson in 1992,[145] and Russell Phillips in 1995, with the third being decapitated when his head hit a caution light.

Wattles' right rear wheel and tire assembly flew into the grandstands at high speeds, killing three people and injuring eight more, resulting in the cancellation of the race.

[28] This plan was met with heavy criticism from the Concord City Council, which held a special legislative session to decide whether to block it.

[159] In response, Smith threatened to shut down the track or relegate it to a testing facility unless the decision was reversed, which would have significant financial repercussions for the Concord economy.

[30] The council quickly backtracked, and tried to convince Smith to stay by offering him an incentive package of $80 million (adjusted for inflation, $117,554,165), a street named in his honor, and a tax break, along with letting him build the drag strip.

[165] In 2009, corporate sponsor Lowe's ended its eleven-year partnership with the track, which reverted back to the "Charlotte Motor Speedway" name.

[167] In 2018, Marcus stepped down from general manager responsibilities to focus on running SMI as its CEO, handing the position over to the speedway's executive vice president at the time, Greg Walter.

[190][191] It soon gained a reputation for violence; Richard Howard, president of CMS, compared the actions of spectators to Japanese Army suicide attacks at the Battle of Okinawa, with damages totaling $50,000.