DAYTONA BEACH, Fla. (October, 2019) – NASCAR has announced that it has successfully closed its acquisition of International Speedway Corporation (“ISC”), merging its operations into one, new company moving forward. The new company will remain based in Daytona Beach, Florida and will continue as NASCAR. As part of this process, ISC has been delisted from NASDAQ.
This merger includes Michigan International Speedway in Brooklyn, MI; Talladega Superspeedway, AL; and Daytona International Speedway, FL. It will also include racetracks in California, Illinois, South Carolina, Kansas, Virginia, Arizona, and New York.
In leading the new, combined company, Jim France will serve as the Chairman and Chief Executive Officer, with Lesa France Kennedy as Executive Vice Chair. Steve Phelps has been appointed President and will oversee all operations of the merged entity.
“The merger of NASCAR and ISC represents a historic moment for our sport,” France said. “There is much work ahead of us, but we’re pleased with the progress made to position our sport for success. Delivering for our race fans and partners is job number one and we look forward to doing that better than ever for years to come.”
The merger represents an important step forward for NASCAR as the sport creates a unified vision to embrace its long history of exciting, family-oriented racing experiences while developing strategic growth initiatives that will drive the passion of core fans and attract the next generation of race fans.
“This sport has meant so much to our family and we are committed to leading NASCAR through this next chapter of growth,” said France Kennedy. “Combining the two companies will allow us to capture the best aspects of both operations. Our stronger organization will allow us to take advantage of the tremendous opportunities to grow the sport over the next decade plus.”
*Information courtesy of a press release from Michigan International Speedway to WLEN News*
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