Actually, you have to build the track first (or at least, show intent that a track will be built), then hope and pray that NASCAR will actually use the facilities. If you can commit NASCAR to run a race there, you've got a huge money maker.
If things don't work out, NASCAR will simply skip the track, but they won't be out any money.
Mark
NASCAR won't be out any money, but these Staten Island loons should ask the proprietors of the Chicago Motor Speedway project what happens when you build an ill-advised racetrack in a top-5 market.