NASCAR Hall Of Fame Announcement Expected Monday

Reports say Charlotte will be awarded the NASCAR Hall Of Fame Monday.

Team owner Felix Sabates told NASCAR's official website that Charlotte will be awarded the bid Monday.

Sabates said the most important factor was that most of the drivers lived in Charlotte. It would be alot easier for them to attend an event at the Hall of Fame if it was in Charlotte instead of Atlanta or Daytona Beach.

Sabates and fellow team owner Rick Hendrick helped lead Charlotte's effort to secure the bid.

The Hall of Fame would be cost 137 million and would be built on an empty parking lot between Caldwell and Brevard Streets near several hotels.

The announcement would be a boost to the hotel and restaurant industry, said John Pyles, who works at Hotel Uptown.

"This will also give us another opportunity to show what Charlotte can do to a lot of the new visitors," Pyles said.

Watch Eyewitness News Monday for continuing coverage of the Hall of Fame announcement.