I told you guys this was in the pipe...NASCAR may be finally figuring out that their next method of growth is road racing. As a publically traded company they are driven to grow as fast as possible, and circle track stuff has fairly well peaked...
Partnership allows for sharing of resources with NASCAR
DAYTONA BEACH, Fla. (Sept. 4, 2008) - NASCAR Holdings today announced an agreement to acquire Grand-Am Road Racing (Grand-Am). The future move will allow for resource sharing between Grand-Am and NASCAR while both organizations continue to operate independently. NASCAR Holdings is the legal operating entity that includes the National Association for Stock Car Auto Racing (NASCAR) and many of its subsidiaries.
Grand-Am, one of the world's most competitive road racing organizations, and NASCAR, the No. 1 spectator sport in the U.S., will combine marketing and communications efforts to include brand management, research, marketing and public relations.
Grand-Am consists of six racing series, including the Grand-Am Rolex Sports Car Series and the Grand-Am KONI Challenge Series, which has millions of loyal fans.
"This combination of resources will benefit Grand-Am and NASCAR, their competitors and fans, as the two companies work together to enhance the two sports," said Jim France, NASCAR Vice Chairman and Grand-Am founder.
The two racing brands will continue to independently sanction and officiate race events for their own series and there will be no change in management. Roger Edmondson will continue to serve as president of Grand-Am.
There has been a rise in crossover drivers and team owners between Grand-Am and NASCAR in recent years. NASCAR drivers such as Jimmie Johnson, Tony Stewart, Kyle Petty, Bobby Labonte, Juan Pablo Montoya, Kurt Busch and Jeff Gordon have raced in the Grand-Am Rolex Series. Full time driver and 2008 Grand-Am Daytona Prototype team champion Scott Pruett has driven in many NASCAR events. Chip Ganassi and Richard Childress own teams in both sports.
Grand-Am Road Racing was established in 1999 and is based in Daytona Beach, Fla. The 2008 schedule includes 15 Grand-Am Rolex Sports Car Series events and 11 Grand-Am KONI Challenge events. Other Grand-Am racing series include Ferrari Challenge; Ford Racing Mustang Challenge; Skip Barber Racing Series; and the SunTrust MOTO-ST Series. For more information about Grand-Am please log on to:
www.grand-am.com.
NASCAR, celebrating 60 years of racing in 2008, holds 17 of the top 20 highest attended sporting events in the U.S., and is the No. 2 rated regular-season sport on television. NASCAR races are broadcast in more than 150 countries and in more than 30 languages. NASCAR fans are the most brand loyal in all of sports, and, as a result, more Fortune 500 companies participate in NASCAR than any other sport. For more information about NASCAR, please log on to:
www.nascar.com.
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For additional information contact Grand-Am:
Tammy Davis, Grand-Am PR, 386-681-6131,
tdavis@grand-am.comRamsey Poston, NASCAR PR, 386-681-4353,
rposton@grand-am.com
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