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NASCAR makes offer to purchase International Speedway Corp.

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NASCAR announced Friday that 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 Corp. not already owned by the controlling shareholders of NASCAR. The intention is to combine ISC and NASCAR as one privately run group of companies led by the France family.

NASCAR has made a bid for a cash purchase price of $42.00 per share. International Speedway Corporation’s stock closed at $39.06 on Friday. The stock price was $35.18 on Oct. 11. The stock has been as high as $49.95 in the last year and as low as $35.12 in that same period.

“In a highly competitive sports and entertainment landscape, a more unified strategic approach is important to our future growth,” said Jim France, Chairman and Chief Executive Officer, NASCAR, who also is ISC’s Chairman of the Board. “We believe the industry requires structural changes to best position the sport for long-term success and this offer represents a positive step forward in that direction.”

The France Family Group controlled approximately 74.2 percent of the combined voting power of the outstanding stock of the company as of Aug. 31.

NASCAR has retained Goldman Sachs & Co. LLC as its financial advisor and Baker Botts as its legal counsel in connection with the negotiation and consummation of a mutually acceptable transaction, and BDT & Company is serving as financial advisor to the France family.

NASCAR’s offer will be reviewed by a special committee of independent ISC board members advised by independent legal and financial advisors. In the interim, NASCAR and ISC will continue to operates as independent entities.

That committee will have J. Hyatt Brown, Larry Aiello, Jr., Larree Renda and William Graves, each of whom is an independent director of the Company, to act on behalf of the Company to consider this proposal.  Brown, ISC’s lead independent director, will serve as the group’s chairman.

“My initial reaction, I think that could eventually lead to flexibility for a schedule,” seven-time Cup champion Jimmie Johnson said of NASCAR’s bid. “Do you shorten the schedule? There’re all these questions. And I think that unity and that collaboration, or those two entities combined would be a step in that direction. It would hopefully open those doors to let those conversations really happen and progress be made. That’s pure speculation, of course, on my part, but that’s where my first thoughts go.”

International Speedway Corp. owns 12 tracks that host NASCAR Cup races, including Daytona International Speedway, Darlington Raceway, Homestead-Miami Speedway and ISM Raceway, where the NASCAR’s three national series are racing this weekend.

 

 

Kaz Grala subs for Natalie Decker in Talladega Truck race

Kaz Grala
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Natalie Decker has not been medically cleared to compete in Saturday’s Truck Series race at Talladega (1 p.m. ET on FS1) and will be replaced by Kaz Grala in Niece Motorsports’ No. 44 Chevrolet the team announced Thursday.

Decker withdrew from last weekend’s race at Las Vegas after she was not medically cleared shortly before the race. She was credited with a last-place finish.

Decker tweeted Saturday that she was flying home where “more tests (would be) run so they can further evaluate and diagnose.”

No further details about Decker’s condition have been announced.

“We are thankful that Kaz is able to fill in for Natalie this weekend and appreciate him working with our team,” team general manager Cody Efaw said in a press release. “We wish Natalie the best as she works to be as healthy as possible to return to racing.”

Grala will make his first Truck Series start since 2017. He has 32 career starts in the series, including one win in the 2017 season-opening race at Daytona.

He drove in Austin Dillon’s place earlier this year in the Cup race on the Daytona road course after Dillon tested positive for COVID-19.

“My thoughts will be with Natalie this weekend as I wish her a quick recovery,” Grala said in a press release. “I know she loves the restrictor-plate races, so I feel bad that she’ll have to miss this one, but I hope I can give her something to cheer for on Saturday. 

“It’s been a few years since I’ve been in a Truck, but the superspeedway races have been very good to me in the past, so I’m really hoping to be able to go grab a win for Niece Motorsports at Talladega.”

FanVision closes due to impact of COVID-19 pandemic

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FanVision Entertainment, the company that produces video devices used by race fans at NASCAR events, has ceased operations due to the financial impact of the COVID-19 pandemic.

The news was announced in a statement from Racing Electronics, the company which sold and supported FanVision devices at NASCAR tracks through a license with FanVision Entertainment.

Racing Electronics, which is owned by NASCAR, can no longer sell or support the devices.

“We recognize this news will be met with disappointment by motorsports fans across the country who utilized FanVision’s products as part of their at-track experience,” Racing Electronics president Chad Willis said in a statement.

“To help fans and industry members transition to Racing Electronics products, we are working with existing FanVision device owners to solve their race day needs. When Racing Electronics returns to the track, fans and industry members will have access to all the sounds that make racing so special.”

RCR, Hendrick to collaborate on Chevy engine

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Hendrick Motorsports and Richard Childress Racing will team up on research and development of a common Chevrolet engine after the conclusion of the 2020 season, the teams announced Thursday.

The two organizations will continue to function independently as they “fully leverage the knowledge and intellectual property of our two successful programs to advance Chevrolet’s engine for NASCAR,” they said in a joint statement.

Engines produced by Hendrick Motorsports and Richard Childress Racing (via ECR Engines) have earned a combined 20 Cup titles and the two teams have totaled 369 Cup wins.

Jeff Andrews, the new executive vice president at Hendrick Motorsports, told SiriusXM NASCAR Radio’s “The Morning Drive” Thursday that discussions about the venture between his team and RCR began two years ago.

“The day was going to come when we really needed to figure out how to get these two programs together,” Andrews said. “A tremendous amount of talent, people and a tremendous amount of equipment and resources between the two programs. How could we do this? How could we take the longstanding heritage between these two companies and get that together to start working on an alliance that truly would produce the ultimate powertrain for Chevrolet NASCAR?”

RCR is headquartered in Welcome, North Carolina and Hendrick’s campus is in Concord, North Carolina.

“I think when you step back and look at it, ultimately you have to get to a point to where, when you have these resources and you have these people, we have to do what’s best for Chevrolet, first and foremost, to continue to push their performance and get them back to the front of the field and get them wins and championships,” Andrews said. “Really, we work together in a very similar fashion. We started two years ago on the aerodynamic side with our groups working very close together and we’re kind of taking somewhat of that template and applying to the engine side in starting this joint alliance.”

Chevrolet last won a Cup title in 2016 when Jimmie Johnson earned his record-tying seventh championship. Since then, Chevy has not had a car reach the championship four.

The Cup Series is in the middle of the Round of 12. The series races Sunday at Talladega Superspeedway (2 p.m. ET on NBC).

Of the 12 cars that remain, four are Chevrolets: Richard Childress Racing’s Austin Dillon, Hendrick Motorsports’ Chase Elliott and Alex Bowman and Chip Ganassi Racing’s Kurt Busch.

Chevrolet cars have won six times through 30 races this season. That’s compared to seven wins in all of 2019, four in 2018 and and 10 in 2017.

NASCAR weekend schedule for Talladega

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The NASCAR playoffs roll on this weekend to Talladega Superspeedway.

All three national series will be racing on NASCAR’s largest oval. The weekend will be capped off by the Cup Series’ Round of 12 race.

More: Denny Hamlin on pole for Cup race at Talladega

MORE: 2021 Cup schedule features new tracks, bold changes 

Here is the weekend schedule for Talladega:

(All times Eastern)

Friday, Oct. 2

Noon – 2 p.m. – Driver motorhome parking (screening in progress)

1 – 3 p.m. – Truck Series haulers enter (screening and equipment unload)

3 – 9 p.m. – Truck Series garage open

3 – 8 p.m. – Truck Series garage access screening

3:30 – 4 p.m. – Truck Series rookie meeting (teleconference)

5:30 p.m. – Xfinity rookie meeting (teleconference)

6 p.m. – Xfinity driver-crew chief meeting

8:30 – 10:30 p.m. – Xfinity haulers enter (screening in progress)

 

Saturday, Oct. 3

7:30 a.m. – Xfinity garage opens

7:30 a.m. – 3:30 p.m. – Xfinity garage access (screening in progress)

10 a.m. – Truck Series garage opens

10 a.m. – Noon – Truck Series garage access (screening in progress)

12:45 p.m. – Truck Series drivers report to vehicles

1 p.m. – Truck Series race; 94 laps/250.04 miles (FS1, Motor Racing Network, SiriusXM NASCAR Radio)

4 p.m. – Truck Series haulers exit

4:05 p.m. – Xfinity drivers report to cars

4:30 p.m. – Xfinity race; 113 laps/300.58 miles (NBCSN, MRN, SiriusXM NASCAR Radio)

5:30 p.m. – Cup rookie meeting (electronic communication)

6 p.m. – Cup driver-crew chief meeting (electronic communication)

7:30 p.m. – Xfinity haulers exit

8:30 – 10:30 p.m. – Cup haulers enter (screening in progress and equipment unload)

 

Sunday, Oct. 4

7 a.m. – Cup garage opens

7 a.m. – 1 p.m. – Cup garage access screening in progress

1:30 p.m. – Cup drivers report to cars

1:30 p.m. – Driver introductions

2 p.m. – Cup race; 188 laps/500 miles (NBC, MRN, SiriusXM NASCAR Radio)

6:30 p.m. – Cup haulers exit