STRICTLY BUSINESS
October 2019 will be recognized as a landmark period in the business of motorsports as International Speedway Corp. and Speedway Motorsports, Inc., the two most successful race track operators, completed their transitions from publicly traded entities to private companies.
In a deal valued at $45 per share, NASCAR, which is owned by the France family, purchased ISC. Meanwhile, Sonic Financial Corp., a private company owned by Bruton Smith and his family, purchased all outstanding shares of SMI for $19.75 per share.
The moves were made so officials could better face the headwinds of an evolving economic landscape. As private companies, they are now able to make decisions without the scrutiny of public markets, and meeting quarterly analyst estimates and expenses for regulatory compliance is no longer necessary.
Combined, the two companies own 20 of the 23 tracks that currently host NASCAR Cup Series races.