NASCAR could be up for sale in the near future
By Asher Fair
Reports suggest that the France family are exploring the possible sale of NASCAR to an outside group, and NASCAR officials have not denied it.
Reports have recently emerged that have suggested that the France family, who control NASCAR, are exploring the possible sale of a majority stake of NASCAR to an outside group. NASCAR officials have not denied these reports.
The fact that NASCAR officials have not denied these reports may not come as a surprise to many people seeing as how there were rumors about this exact topic back in February right around the time when the 2018 season was beginning.
Plus, when the NFL’s Carolina Panthers went up for sale following sexual misconduct allegations against Jerry Richardson, the team’s current owner, a few months ago, sources linked Brian France as a potential buyer along with the Smith family, who run Speedway Motorsports, Incorporated, which operates Charlotte Motor Speedway in Concord, North Carolina, a venue visited by NASCAR twice each season.
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NASCAR was founded over 70 years ago in February of 1948 by the late Bill France Sr., and his grandson Brian France is now the CEO and Chairman of NASCAR. He has served as the CEO and Chairman of NASCAR since 2003.
The France family are reportedly working with investment back Goldman Sachs Group, Incorporated to seek out a potential buyer and ultimately a potential deal for NASCAR. That said, reports also suggest that nothing is certain at this point whatsoever and no agreements have been made, either. There is certainly nothing imminent in regard to a sale of NASCAR at this point in time.
NASCAR, which just purchased the longtime feeder division ARCA, has experienced a decline in its popularity and fanbase in recent years. TV ratings continue to fall, as does race attendance.
Whether or not this has anything to do with the France family considering selling the sport has not been confirmed, which will only lead to more speculation, such as whether or not they still believe that they can grow NASCAR’s popularity and fanbase, and if not, who could buy it that could do so.
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Will NASCAR end up being put up for sale? If so, will it happen in the near future? If it happens, regardless of when, who will end up buying it, and will that play to the benefit of the sport and its fans? This is definitely a situation to keep you eye on as more information about it is made public.