It appears that NASCAR is just about set to take over ownership of ISC (International Speedway Corporation). ISC announced that they have been offered a price of $45 per outstanding share by the sanctioning body, which equates to roughly a $2-billion deal.
.@ISCupdates has announced the terms to be acquired by @NASCAR in a deal valued at $2B, or for $45 a share:
– (Via @Marketwatch) pic.twitter.com/QEWFbe4JqU
— Adam Stern (@A_S12) May 22, 2019
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The deal of course still has to be signed off on by non-France family members who hold stock in the company. NASCAR released a statement about the deal on Wednesday:
.@NASCAR says in a statement that it is “pleased with the progress that the negotiation and execution of the merger agreement between NASCAR and ISC represents.” pic.twitter.com/H4kgHnobxB
— Adam Stern (@A_S12) May 22, 2019
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If the deal does go through, NASCAR will own some of the sport’s premier racing facilities including Daytona International Speedway, Homestead-Miami Speedway and ISM Raceway at Phoenix. This would do two things.
For starters it would make NASCAR able to make changes to the schedule easily that involves any of the ISC race tracks.
It would also make the sanctioning body more attractive if the France family was indeed shopping the sport to be sold like was heavily rumored a season ago.
