NASCAR on Friday announced that it has submitted a bid to acquire all the shares of International Speedway Corporation (ISC) which will combine both the companies into one private company under the France family.
In an interview with NASCAR’s CEO and Managing Director, Jim France said: “In a highly competitive sports and entertainment landscape, a more unified strategic approach is important to our future growth.”
Adding to this he said, “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.”
ISC has formed a special committee to review the NASCAR’s acquisition offer. Until the deal gets the lock, NASCAR and ISC will continue to operate as a separate entity.