ISC, NASCAR set to merge

23 Mai, 2019, 01:27 | Auteur: Adelaide Bullion
  • ISC, NASCAR set to merge

NASCAR is calling its $2 billion deal with International Speedway Corp. a merger.

Kansas Speedway is set for new ownership.

NASCAR late past year began acquiring the remaining public stock in International Speedway, which owns a majority of the NASCAR-sanctioned tracks.

The companies said Wednesday that deal is expected to close this year.

ISC's tracks include the famous Daytona International Speedway (its flagship track), Talladega Superspeedway, Darlington Raceway, Watkins Glen International, as well as a drag racing track in IL. That could make it easier for NASCAR to move dates to take a date from one track to another.

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"In a highly competitive sports and entertainment landscape, a more unified strategic approach is important to our future growth", said Jim France, Chairman and Chief Executive Officer, NASCAR. NASCAR's five-year agreement with tracks ends after the 2020 season.

The stock vehicle series says it is "pleased with the progress" the "merger agreement" represents. "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". "Our family is committed to it". ARCA is a lower-level stock vehicle racing operation owned by NASCAR. Brian France replaced his father in 2003.

Kevin Harvick, driver of the #4 Busch Light/Mobil 1 Ford, rides with his son, Keelan, after winning the Monster Energy NASCAR Cup Series Consmers Energy 400 at Michigan International Speedway on August 12, 2018 in Brooklyn, Michigan.

With NASCAR private, it won't have to publicly report attendance revenue and other financials as ISC had to do as a publicly traded company. ISC shareholders will receive $45 per share, a news release announcing the agreement stated.

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