Bruton Smiths $80 million legal fight against Cabarrus County may have run out of track.

In a change of heart, the N.C. Supreme Court has declined to rule on the racing magnates lawsuit that Cabarrus taxpayers owe him tens of millions of dollars in tax breaks for his racing complex in Concord.

That decision marks Smiths third defeat in as many court trips dating back to 2012.

The high courts ruling on Dec. 19, however, marks a bit of a reversal: The justices first agreed to hear Smiths challenge of a 2013 ruling by the state Court of Appeals to throw out Smiths suit. But after hearing arguments from both sides in September, the Supreme Court members changed their minds.

That means the earlier court decision to throw out Smiths claims stands.

We believe its over, said Rich Koch, the attorney for Cabarrus County. I guess it was one of these things that had to run its course ... and we can move on to, hopefully, a long and good relationship.

Charlotte attorney John Buric, who argued the speedways case before the state Supreme Court, was not immediately available for comment Wednesday.

The dispute arose in 2007 when Smith, one of racings most powerful and controversial figures, announced plans to build a drag strip near his Charlotte Motor Speedway.

The city of Concord objected, and Smith responded by threatening to move the speedway and its $420 million annual impact on the local economy and build the drag way elsewhere.

Eventually, Cabarrus leaders wrote Smith a letter, committing to $80 million in tax breaks, grants and other public money to pay for speedway improvements.

According to court documents, Smith called Mayor Bob Padgett that day and told him: We have an agreement.

It didnt hold up.

Preliminary discussions focused on a combination of state, county and city money to pay for such infrastructure improvements as roads and noise control.

Smiths drag strip opened in August 2008. The next day, the governments sent over a proposed contract that would have given them up to 40 years to make good on their $80 million pledge. Smith would have been required to complete $200 million of promised speedway improvements within three years.

Smith and the speedway sued. The city settled with Smith for $2.8 million, but the track owners fight with the county continued on through the states top three courts.

Smiths complaint accused the county of breach of contract and fraud, among other claims, while arguing that the 2007 letter from the local governments served as a valid and enforceable contract.

In response, the county argued that no contract had been approved and asked that Smiths complaint be thrown out.

In March 2012, Superior Court Judge Robert Ervin agreed and dismissed the suit. Smith and the speedway appealed.

That set the stage for the appeals court ruling in October 2013 that, siding with Ervin, said the letter promising the money was too indefinite to constitute a binding contract.

Given the Supreme Courts decision last week, that ruling becomes binding.

As for any fallout between the county and its most famous businessman, Koch said county officials and the speedway successfully settled some property tax disagreements this fall.

The relationship is improving to the point that we are able to talk productively and get things done, Koch said. The people at the county are trying. I believe the people at the speedway are trying to do that, too.