If NASCAR is already on life support, is there any way to save the sport? That's a very slim possibility. With today's youth being more attracted to technology, and not mechanics, there is not much chance to grab the young demographic. The last boom time in NASCAR were the mid-90s to mid-2000s. Plenty of new tracks, new sponsors, and new fans during that decade of growth.
The sponsors drove the sport back then. Fortune 500 companies, tech firms, entertainment platforms, etc all came and went. Bringing new fans with them. Most of the huge sponsors used NASCAR as a way to reward thousands of their employees and entertain customers. Hospitality at the track meant as much to those sponsors as the tv time their logo received on the side of a car.
If NASCAR is serious about gaining fans they need to reward long time fans, instead of gouging them, and attract new fans with hospitality and interaction. Of course, it will take much more than this to bring the crowds back. But, better on-track action will not attract new fans. Something else is needed to pull them in.