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ISC cites absence of Jeff Gordon, Dale Jr., Tony Stewart as impacting admission revenue in 2016

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International Speedway Corp. cited the impact of Jeff Gordon, Dale Earnhardt Jr. and Tony Stewart missing races as among the reasons for a decline in admission revenue last year at its tracks.

International Speedway Corp. reported its fourth quarter and yearly earnings Thursday morning in a conference call with investor analysts.

Gordon retired after the 2015 season but returned in 2016 after Dale Earnhardt Jr. suffered a concussion and drove in select races. Earnhardt missed the final 18 races of the season. Stewart was injured before the season and missed the opening eight races last year.

ISC reported that its fourth-quarter admissions revenue was down about 9.3 percent from the previous year. The track hosted Cup races at Darlington Raceway, Richmond International Raceway, Chicagoland Speedway, Kansas Speedway, Talladega Superspeedway, Martinsville Speedway, Phoenix International Raceway and Homestead-Miami Speedway. Earnhardt missed all of those races. Gordon drove in only three of those events (Darlington, Richmond and Martinsville). Stewart competed in each event.

For the year, admissions revenue was down about 5 percent for the company.

“We believe several factors influenced the softened attendance of 2016,’’ said John Saunders, president of ISC, during Thursday’s conference call. “The impact of Jeff Gordon’s retirement was underestimated, which was compounded with Tony Stewart and Dale Earnhardt Jr. missing races throughout the season. The lack of activation from the outgoing series sponsor (Sprint) and the distraction of the presidential election season further exacerbated the situation.’’

ISC announced on the call that three of its 19 Cup races sold out in 2016 — the Daytona 500, Watkins Glen and the season finale at Homestead-Miami Speedway.

Saunders said that advance sales for the Feb. 26 Daytona 500 were at comparable levels to last year’s event at this time. ISC is “optimistic” the race will sell out again. 

Saunders also said that advance ticket sales for upcoming races at Auto Club Speedway and Phoenix International Raceway were “trending slightly ahead” compared to last year.

Saunders noted the impact on corporate sponsorship Monster Energy would have as new series sponsor for NASCAR’s Cup Series.

“It is important to note that 2016 was the last year of our revenue-included agreements between ISC and Sprint for various inventory and activation rights at ISC racetracks,’’ Saunders said. “These agreements were negotiated in the mid-2000s, pre-recession.

“While we currently expect to have similar agreements in place with Monster Energy, we anticipate the economics of the agreements will result in a reset for 2017.’’

Saunders estimates that ISC’s corporate sales will decline by 1 percent in 2017  “due to the reset.’’ Excluding the reset for the Monster deals, ISC forecasts a 1 to 2 percent increase in corporate sales.

In other items:

— Three of ISC’s 20 Cup races this year either have the event sponsorship open or yet to be announced.

— Three of ISC’s 14 Xfinity races this year either have the event sponsorship open or yet to be announced.

— Average ticket price for a Cup event at an ISC track in the fourth quarter declined to $79.92, down from $80.36 for the same quarter a year earlier.

— For the full year, the average ticket price for a Cup event at an ISC track was $90.12, an increase of 5.4 percent. ISC officials cited Daytona’s pricing as a reason for the increase.

— On new series sponsor Monster Energy, Saunders said: “We’re encouraged. Monster Energy speaks to a younger demographic, which is promising for us. … They’re all about fun and activation. … They’re thinking outside of the box, and I think it is going to bring a whole new live entertainment component to the Cup weekends.’’

— On the enhanced formats that NASCAR announced this week, Saunders said: “What we’ve seen from fans is overwhelmingly positive.’’

— For the full report for International Speedway Corp. go here.

— Also, Dover Motorsports Inc., issued its earnings report Thursday. Dover also reported lower admissions revenue. The company plans to spend about $300,000 during the first quarter of 2017 to remove portions of the grandstand. The company also announced that the closing of the sale of Nashville Superspeedway should take place in the second quarter of 2017. For more on Dover’s report, go here.

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NASCAR America: Jimmie Johnson’s patience propels him to victory lane in Food City 500

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Jimmie Johnson is known for his patience behind the wheel. Where other drivers may get too hot under the collar and over-react, Johnson is typically cool as a cucumber — and that’s helped lead him to many of his 82 career NASCAR Cup wins.

That patience once again played out in Johnson’s win Monday in the Food City 500 at Bristol Motor Speedway, only his second career triumph (and first in seven years) at the “World’s Fastest Half-Mile.”

On Monday’s NASCAR America, Greg Biffle and Kyle Petty discussed Johnson’s patience throughout Monday’s race.

 

 

Heavy foot on pit road foils Kyle Larson once again at Bristol

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Kyle Larson did everything he could to win Monday’s Food City 500 at Bristol Motor Speedway.

He led a race-high 203 laps in the 500-lap event, including dominating Stage 1, leading all 125 laps, as well as the first 77 laps in Stage 2.

But Larson, known for the heavy foot he has, saw that need for speed at the wrong time likely cost him the win.

When Erik Jones wrecked on Lap 422, Larson came to pit road and was too fast across two consecutive timing zones on the front straightaway en route to his pit stall.

“I was just pushing on pit road and messed up there,” Larson said after the race. “To start the race, I was the leader, I would run all my greens down pit road, and then once I fell back … down the straightaway I was running one red and flashed the second red real quick, and I guess that was all she wrote.”

NASCAR penalized Larson for speeding on pit road, dropping him to the back of the longest line, restarting in 20th place with 72 laps left in the race.

“Yeah, I knew I gave the race away there,” Larson said. “(I’m) disappointed in myself. I think I speed on pit road every single time I come to Bristol. So, I’ve got to clean that up.”

There’s that heavy foot admission once again.

Ironically, it was Larson’s first speeding penalty this season.

To his credit, Larson was able to quickly climb back up the grid, but couldn’t finish higher than sixth.

Still, Larson tried to a positive spin on things as he began to leave the track.

“I don’t know what more you could ask out of this place,” Larson said. “This is the best track we go to, most exciting place, and I love coming here.”

But he doesn’t like the way he came out of it once again, thanks to that darn heavy foot.

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NASCAR America: Dale Jarrett, Kelli Stavast recap Bristol driver performances

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After waiting out 28 straight hours of rain, Monday’s rescheduled Food City 500 at Bristol Motor Speedway produced a rather exciting race.

The addition of adhesive to the lower grove at the track gave drivers additional grip that led to side-by-side and even three-wide racing.

On Monday’s edition of NASCAR America, NASCAR Hall of Famer Dale Jarrett and Kelli Stavast discussed the top driver performances in Monday’s race.

 

 

NASCAR America: My Home Track: Maine’s Oxford Plains, Beech Ridge Motor Speedway

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NASCAR America’s My Home Track series continued Monday as we visited Maine, otherwise known as the Pine Tree State.

Not only is it a great state for racing, including places like Oxford Plains and Beach Ridge Motor Speedway, Maine also lays claim to NBCSN’s own Steve Letarte, who paid homage to his home state in Monday’s edition of NASCAR America.