NASCAR conducts layoffs

NASCAR has laid off a percentage of its workforce.

In a statement NASCAR said: "As all good businesses do, NASCAR is committed to strengthening its operation to ensure that resources are aligned to strategies that grow the sport and drive our business.

"We have a talented team at NASCAR and we’re confident that greater focus on the opportunities to drive fan interest and strong industry partnerships will help our sport achieve long-term growth.”

SportsBusiness Journal reports that dozens of employees, amounting to less than 5 percent of NASCAR's workforce, were let go. NASCAR will not be confirming any employees who were affected.

In November NASCAR announced it has submitted a non-binding offer to acquire all outstanding shares of Class A common stock and Class B common stock of International Speedway Corporation (“ISC”), intending to merge ISC  and NASCAR as one privately run group of companies led by the France family.