Everyone likes to talk about upgrading hardware for track use, but a significant change that many might not be doing is using a heavier weight oil. BMW's Castrol 5W-30 is simply not up for track use. I do oil changes halfway between services and after a few track days with the BMW recommended Mobil-1 0W-40. I have yet to see an oil temp over 260/270 (and I push the car HARD).
The best practice would be to use an even higher weight racing oil on the track, like Redline 15W-50; however, you absolutely would have to change back to Castrol/Mobil 1 after the track event as its not suitable for street use.
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