How to have a track fail: make the experience of going to that track and racing there not fun.
How do you do that? Hell, we have a long list of examples just in this one state, but the most common denominator appears to be toxic clientele and people being unwilling to tell said people to either clean up their act or get out. Joe Somebody with two kids shouldn't be asked to stomach the guy next to them in the pits hotboxing in his car between rounds or someone blasting profane rap music as loud as their stereo will go. Why would he come back?