France family considering NASCAR sale – reports

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France family considering NASCAR sale – reports


France family considering NASCAR sale – reports


The idea that the France family could sell NASCAR is once again picking up traction.

Citing unnamed sources, Reuters posted a report late Monday that the France family is working with Goldman Sachs Group Inc. “to identify a potential deal for the company.” Any deal would include a majority stake in the company.

NASCAR was founded by Bill France Sr. in 1948 and is now co-owned by his son Jim France and granddaughter Lesa France Kennedy. Brian France, the grandson of France Sr., is the chairman and CEO of NASCAR.

A NASCAR spokesperson said the sanctioning body had no comment on the story. The France family also controls IMSA.

The Reuters report does not specify what would be included in the sale.

International Speedway Corp (ISC) owns 12 tracks on the Monster Energy NASCAR Cup Series schedule. ISC is a publicly traded company where Lesa France Kennedy is heavily involved in her role as the CEO.

In addition to the three national series, there are two K&N divisions and numerous other regional and weekly series run under the NASCAR banner. Last month NASCAR also purchased the ARCA Racing Series.

Rumors of a potential sale have continuously popped up over the years. Among the major battles the sport has faced in recent times have been dwindling ratings and the mass exodus of stars such as Dale Earnhardt Jr., Jeff Gordon, Tony Stewart, Carl Edwards and Danica Patrick.