NASCAR $2 billion merger with ISC in USA
29 May 2019
NASCAR has reached a $2 billion merger agreement with the International Speedway Corporation (ISC), granting the organisation control of twelve key racetracks in the USA.
“We are pleased with the progress that the negotiation and execution of the merger agreement between NASCAR and ISC represents” NASCAR said in a statement. “While important regulatory and shareholder approval processes remain, we look forward to successful final resolution of this matter and continuing our work to grow this sport and deliver great racing experiences for our fans everywhere.”
The merger comes as NASCAR contends with a downturn in its business with TV ratings and event attendance having fallen in recent years. NASCAR is said to be considering changes to its rigorous race schedule to jumpstart fan interest.