NASCAR completes $2 billion ISC agreement

By Anthony Caruso III | Publisher

NASCAR has completed its merger with the International Speedway Corp. on Friday, according to NBC Sports. Before the merger, ISC was a corporation that owned and managed several NASCAR and IndyCar tracks.

ISC was founded by NASCAR founder Bill France Sr. in 1953. In May, it was announced that NASCAR purchased ISC for $2 billion.

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“The merger of NASCAR and ISC represents a historic moment for our sport,” Jim France said in a statement. “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.”

As part of this agreement, France will serve as the Chairman and CEO of the company. Lesa France Kennedy will serve as the Executive Vice Chair.

In addition, Steve Phelps has been named President of the company. He will oversee the entire company.

Following the merger, the Board of Directors will include France, France Kennedy, Mike Helton, and Gary Crotty.

“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,” Phelps said. “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.”

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