With preparations for this year's Bahamas Speed Week revving up, tentative plans are being made to kick future events into top gear.
Jimmie Lowe, the event's president, said organizers will soon begin talks with the Ministry of Youth, Sports and Culture and the Ministry of Tourism to mull over the possibility of building a race track for drivers arriving from all over the world - a venture that could mean a boom for the economy.
"The intent is to create tourism," he told Guardian Business.  "This is what we envision going forward, but nothing is set in stone. If it did happen, it would facilitate a larger clientele coming, more room nights for Bahamian hotels and the economic impact could be far reaching."
Lowe and his team are currently drafting a proposal to present to the government.
Details such as funding, location and the scope of the project are still in the development phase.
"This is part of our wish list," he added. "It is something we are hoping to have, and it all depends on approvals."
Meanwhile, Bahamas Speed Week, which will run from November 30 until December 4, has recently signed Pictet Bank as an official sponsor of the gala banquet and Auction of Promises to benefit four Bahamian charities.
With a presence in 19 countries, Pictet Bank is one of the world's leading international private financial institutions, and according to Lowe, it elevates Bahamas Speed Week into a new echelon of prestige and opens the door to an elite mix of guests.
"Obviously with having them involved and stepping up to the plate, it creates an opportunity that's huge for everyone," Lowe added.
"It's huge for the event, it's huge for the charities, - by them stepping up, it takes a lot of burden off the organizers."
Pictet Bank joins an impressive list of sponsors, such as Carlo Milano, Graycliff and Bahamas Ferries.
The event is already expected to attract $100 million in classic race cars and should provide a significant tourism boom for Nassau. The goal, Lowe said, is to fill between 4,000 and 5,000 hotel rooms as a direct result of Bahamas Speed Week, not to mention the economic spill off for retailers and restaurants.
Sir Stirling Moss, the British racecar driver who competed from 1948 to 1962 and won 212 of the 529 races he entered, including 16 Formula One Grand Prixs, will serve as the patron fo the event. He attended the original Bahamas Speed Week more than 50 years ago.
Running from 1954 to 1966, the original, historic event in Nassau featured many of the great racing drivers and best automobiles of the period.
In this year's revival, a series of events are expected to take place throughout Bahamas Speed Week - including a sprint at Arawak Cay, a hill climb at Fort Charlotte and a star-studded exhibition for the vintage vehicles.
But for Earle Bethell, the President of the Cancer Society, the gala banquet and Auction of Promises will be the marquee event.
"Because of the prevalence of cancer in this country, we are most thankful for these sponsors to come forward," he said.
"We [The Cancer Society] just added another six branches through the Family Islands and we're putting in education offices, trying to reach out to the Family Islands. In Nassau, the Cancer Center is full and we have a waiting list.
"We need every penny we can get - these are very trying times."
Ranfurly Home for Children, Teen Challenge and the AIDS Foundation are the other charities that will benefit from the Auction of Promises.
In a teaser to Guardian Business, Lowe hinted that some of the big-ticket prizes are already on the books, such as a four-day, three-night stay in Exuma valued at $30,000 and a private charter on a high-end fishing boat.
In addition to the money raised for charity, Bethell, who is also the Director of Marketing for Baha Mar, said Bahamas Speed Week, and the possible expansion to include a racetrack, will be incredibly important for all Bahamians.
"With the amount of persons coming in, of course it will have an impact," he said.
"They are resurrecting it for the first time, in a long time. That means a lot more heads for hotel rooms."

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