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Since it first began in February of 1948, NASCAR has been owned by the legendary France family. It was founded by Bill France Sr., handed down to his sons Jim and Bill France Jr., and later to Brian France and Lisa France Kennedy. Jim currently serves as the series’ CEO, while Lisa’s son Ben is one of the series’ lead executives.
But for the first time in nearly a century, that all could change. Adam Stern of Sports Business Journal reports that NASCAR is exploring its options with regards to ownership going forward. That includes the option of a potential equity sale that would take power out of the hands of the France family for the first time ever.
“We’re in right now what I would call the exploration phase, so we’re trying to build out our plans for ’26 and beyond, but it’s kind of like the NBA,” NASCAR president Steve Phelps said. “Twenty years ago, their international footprint looked significantly different than it does today. My expectation is ours is going to continue to grow. There’s lots of opportunities for us.”
NASCAR Fans Are Unsure About News Of Potential Private Equity Invesment
Phelps, who previously worked for the NFL as well as brands such as Chef Boyardee and Guiness, assumed the role of president in 2018 when Brian France stepped away from the sport amid ongoing troubles with drugs and alcohol. While Phelps did not directly says that NASCAR will sell an equity stake, he did acknowledge the possibility.
‘…Phelps said NASCAR could take on such an investment,” Stern wrote in reference to private equity. “It is believed to be the first time NASCAR has confirmed that it’s open to selling a stake in the privately owned company.”
Fans met the news with mixed the reviews. The France family has grown increasingly unpopular in recent years. But may fans fear for what private equity might mean for the sport’s traditions.
For comparison sake, Formula 1 was independently owned by British businessman Bernie Ecclestone until 2006. Ecclestone then sold to private equity firm CVC Capital Partners. CVC went on to sell again to Liberty Media Company, which currently owns and operates the series.