NASCAR owners in talks to sell series, report says

NASCAR owners in talks to sell series, report says

NASCAR owners in talks to sell series, report says

The majority owners of NASCAR, the company that operates the USA stock-car racing series, are reportedly exploring options that include the sale of a majority stake, it was reported Monday by Reuters News Service.

The sources asked not to be identified because the deliberations are confidential.

NASCAR could attract interest from media companies and private equity firms, according to Reuters' sources. The organisation's exact valuation could not be established, but the sources estimated that it could be worth several billions of dollars.

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If the France family decides to sell its stake in ISC as well as in NASCAR, the addition of 12 tracks including Daytona, Talladega and Homestead-Miami, the sale could rival Formula One's $4.4 billion deal with Liberty Media over two years ago.

NASCAR and Goldman Sachs declined to comment.

"In a time period that is attractive for live event and live entertainment, Nascar has struggled", said Rich Greenfield, an analyst with BTIG.

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In February, the Sports Business Journal wrote that while NASCAR said in a statement that it is not for sale, recent developments have fueled the speculation and it's been a topic of major discussion along pit road and among motorsports observers.

As a privately held company, NASCAR does not disclose earnings.

While International Speedway Corporation (ISC) and Speedway Motorsports (SMI) own the majority of tracks used by NASCAR in its Cup Series schedule, the France family does have a controlling stake in ISC. The new owners have already shaken up the global motorsport series' management in an attempt to revolutionise the way the sport is presented.

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