NASCAR representatives have announced that the motorsports organization has successfully closed its acquisition of International Speedway Corporation (“ISC”), merging its operations into one company. The new company will remain based in Daytona Beach, Florida and will continue as NASCAR. As part of the merging process, ISC has been delisted from NASDAQ.
Jim France will serve as the Chairman and Chief Executive Officer of the combined company, with Lesa France Kennedy as Executive Vice Chair. Steve Phelps has been appointed President and will oversee all operations.
“The merger of NASCAR and ISC represents an historic moment for our sport,” France said. “There is much work ahead of us, but we’re pleased with the progress made to position our sport for success. Delivering for our race fans and partners is job number one and we look forward to doing that better than ever for years to come.”
This is an important step forward for NASCAR as the sport creates a unified vision to embrace its history of exciting, family-oriented racing experiences while developing strategies to both drive the passion of existing fans and attract the next generation of race fans.
“This sport has meant so much to our family and we are committed to leading NASCAR through this next chapter of growth,” said France Kennedy. “Combining the two companies will allow us to capture the best aspects of both operations. Our stronger organization will allow us to take advantage of the tremendous opportunities to grow the sport over the next decade plus.”
“With great racing across all of our series, an exciting 2020 schedule on tap and the Next Gen race car in development, we are better positioned than ever before to lead the sport into a new era of growth,” said Phelps. “We have a strong, experienced leadership team in place with incredibly dedicated employees at every level throughout our organization. Our best days are ahead of us and our new organization is going to allow us to better deliver great racing to our fans everywhere.”