MRM
Team Owner
From http://www.cupscene.com/
Could NASCAR Be For Sale?
October 30
On the heels of another report of a drop in TV ratings, this time a 16% dip over last year for this weeks Atlanta event, comes another indication that there could be a chink in the once impregnable armor of NASCAR.
Just weeks after rumblings that there could be a change in the NASCAR leadership with current CEO Brian France stepping aside for his uncle Jim France, there seems to be speculation that NASCAR itself could be for sale.
Multiple sources are saying that NASCAR’s parent company, International Speedway Corporation, is studying the sale of the world’s largest stock car auto racing sanctioning body due to financial troubles. Two sources say that an investment bank, most likely New York based Lehman Brothers, has completed a study that placed a value on NASCAR and that a prospectus has been prepared.
The financial troubles for ISC include the costs of lawsuit mitigation, combined with the loss of potential tracks in New York and Washington State. Combined with falling ticket sales and TV ratings, according to some, investors are getting weary. This concern could force not only the change in leadership, but also a partial or full sale of the entire sanctioning body.
Could NASCAR Be For Sale?
October 30
On the heels of another report of a drop in TV ratings, this time a 16% dip over last year for this weeks Atlanta event, comes another indication that there could be a chink in the once impregnable armor of NASCAR.
Just weeks after rumblings that there could be a change in the NASCAR leadership with current CEO Brian France stepping aside for his uncle Jim France, there seems to be speculation that NASCAR itself could be for sale.
Multiple sources are saying that NASCAR’s parent company, International Speedway Corporation, is studying the sale of the world’s largest stock car auto racing sanctioning body due to financial troubles. Two sources say that an investment bank, most likely New York based Lehman Brothers, has completed a study that placed a value on NASCAR and that a prospectus has been prepared.
The financial troubles for ISC include the costs of lawsuit mitigation, combined with the loss of potential tracks in New York and Washington State. Combined with falling ticket sales and TV ratings, according to some, investors are getting weary. This concern could force not only the change in leadership, but also a partial or full sale of the entire sanctioning body.
