Phoenix Raceway is engaged in naming-rights talks as the ISC-owned track is in the midst of a $178M renovation that is slated for completion late next year. Sources said that the track has been looking at selling naming rights as part of "moving into a new era," according to Sports Business Journal.

Track President Bryan Sperber in a statement said, "From the moment we announced the project in January, we've had tremendous response from new and existing partners. This transformation of our venue into a world class entertainment facility has unlocked a myriad of opportunities, including unique branding platforms, new events, breakthrough technology, and even naming rights for the facility. We are fully engaged in discussions with partners on all of those fronts and are confident that we are progressing toward being in a position to reveal our plans in the near future."

The move would make Phoenix Raceway the second track that hosts a Monster Energy NASCAR Cup Series race to have a brand attached to the facility’s name, if the track ends up selling the naming rights, with the other being fellow ISC venue Auto Club Speedway.

Other Cup-level tracks, such as SMI-owned Charlotte Motor Speedway and Sonoma Raceway, previously had naming-rights deals, but those deals expired in recent years and were not renewed. Phoenix hosts two Cup races a year, as well as a Verizon IndyCar Series race.