HENRICO, Va. (WWBT) - NASCAR will be gaining control of 15 race tracks across the country, including two in Virginia.
The stock car racing sanctioning body will merge with the International Speedway Corporation in a deal worth around $2 billion.
The ISC already owns tracks like the Watkins Glen International racetrack in New York, the Auto Club Speedway in California and the Daytona Speedway in Florida.
This deal would give NASCAR more mobility to move event dates around among the venues.
NASCAR has struggled with declining attendance and TV viewership in recent years.
This deal comes a year after reports that the France family, the owners of NASCAR, was looking to sell the struggling stock car series.
In a statement, NASCAR said:
“We are pleased with the progress that the negotiation and execution of the merger agreement between NASCAR and ISC represents. While important regulatory and shareholder approval processes remain, we look forward to the successful final resolution of this matter and continuing our work to grow this sport and deliver great racing experiences for our fans everywhere. With a strong vision for the future, the France family’s commitment to NASCAR and the larger motorsports industry has never been greater.”
The ISC says the deal is set to be finalized this year.
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