- NASCAR buys out ISC in $2-billion deal
- Non-NASCAR race tracks may be excluded from the races post 2020
- NASCAR focuses on streamlining its structure
NASCAR has acquired International Speedway Corp., successfully sealing a $2-billion deal. The racing organization may begin restructuring, leaving non-NASCAR race tracks out of future scheduling.
NASCAR Acquires ISC-owned Tracks and the Organization
On Wednesday, May 22, NASCAR announced the purchase of International Speedway Corp. (ISC) with the organization consolidating its control of key racetracks. The deal was worth at $2 billion, the announcement specified.
With its 12 tracks, NASCAR will now consolidate its control over key venues for the series, including Daytona International Speedway, Talladega Superspeedway and Darlington Raceway among others. NASCAR has chosen to acquire the venues itself so that it can tinker with the scheduling of events in the cases when ad-hoc changes are necessary.
According to Steve Phelps, NASCAR President, the 38-race schedule is too tiring for fans and racers alike, so the organization is now looking to introduce changes to the current scheduling and format. Besides, NASCAR’s five-year contracts with tracks will expire after the 2020 season. NASCAR’s statement read as follows:
We are pleased with the progress that the negotiation and execution of the merger agreement between NASCAR and ISC represents,
The official release then went on to add: “While important regulatory and shareholder approval processes remain, we look forward to the successful final resolution of this matter and continuing our work to grow this sport and deliver great racing experiences for our fans everywhere. With a strong vision for the future, the France family’s commitment to NASCAR and the larger motorsports industry has never been greater.”
NASCAR to Prioritize Own Tracks
Amid a dip in viewership and interest for NASCAR, the organization is prioritizing. This means that non-company owned tracks will most likely be phased out of future events as NASCAR tries to streamline its revenue and management costs, plus slash burnout among drivers.
NASCAR is still a privately-owned company which means that it has no obligation to report its revenue publicly. As per the new agreement with ISC, shareholders can expect to receive a $45 dividend, which is a substantial payout.
As the organization restructures, it’s very likely to start seeing tracks drop out of the circuit in the post 2020-season, which will definitely come as disappointment to some.