NASCAR is a lot like hockey, IMO, where he beauty of the live experience just does not translate to the small screen without losing a lot of its panache. Unless you recently attended a live event, you can't remember the other sensory aspects to the event which in NASCAR's case also includes the outside the track fan experience.
I could write a book of suggestions, but the first chapter would need to focus on restoring mano-a-mano competition in the sport to bring the fans back.
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