NASCAR is no longer for sale. At least according to one prominent media member.
A little over a month after it was announced that the France family was exploring a sale of the sport with the help of Goldman Sachs one media member says the sale is no longer happening. On Marshall Pruett’s This Week In IndyCar podcast Robin Miller, known for his NASCAR scoops, said Jim France isn’t selling NASCAR.
Jim France (73), uncle to NASCAR CEO Brian France has no interest in selling the sport his father and brother built into the most prominent stock car series in the world. Jim France is the centerpiece of a NASCAR sale for the sole reason he and his niece Lesa France own majority shares of NASCAR. His nephew Brian France owns no shares of NASCAR according to 2007 court documents.
Brian France is merely a figurehead in NASCAR. For some reason unbeknownst to many, Bill France Jr. thought Brian was the correct guy to lead NASCAR. If there was ever a time you shouldn’t listen to your wife, it’s times like this when you’re looking for someone to take over your company. Don’t pick your sweaty son with no chin and a fear of public speaking.
If Jim France isn’t looking to sell the series now that would certainly set up for an interesting family struggle within the sport. Brian France has said in the past he won’t lead NASCAR his entire life. Some would argue he’s never lead the sport but that’s another story. With Brian France wanting to own an NFL team could Jim France force his nephew out? Assuming the board would vote on the change it would appear Jim and Lesa France would have the votes to make that change.
Jim France has another option as well. Currently, he has an estimated worth of nearly $2B which would lead credence to the idea he could buy Lesa France out. Jim France would then become the majority owner of NASCAR and free to do what he wishes with the sport. Although Lesa’s son Ben Kennedy is the new head of the NASCAR Truck Series and appears destined to take over the family business someday.
Robin Miller has scooped NASCAR stories before, this could be another for the Ball State dropout. News of the sale has slowed, the France family says they’re committed to the sport. All signs are pointing to it not being for sale.
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