(CHARLOTTE) -- North Carolina and the City of Concord can breathe a sigh of relief heading into the Holiday Season. The Governor and local officials are apparently giving Lowes Motor Speedway owner Bruton Smith what he wants for Christmas. "My understanding is everybody seems satisfied, the different points of the deal to keep the speedway right where it's located and build on it from here," said Lowes Motor Speedway spokesman, Jerry Gappens.

Smith threatened to move the Concord track, but now he will get $80 million in local incentives to keep the track where it is. "The good news is I think for everybody in Cabarrus County and Concord, it looks like we're going to be able to celebrate our 50th anniversary right here where Mr. Smith build this place."

We still do not know all the details of the incentives deal. That will not be discussed until a scheduled press conference on Monday. "As part of the negotiations, I do know that Mr. Smith spent some time on the phone with Governor Easley."