Sports

Former NASCAR driver welcomes change if France family sells

CHARLOTTE, N.C. — Geoff Bodine, who raced with the likes of Dale Earnhardt Sr., said he's surprised NASCAR wasn't sold years ago.

If the sale goes through, it's a change he welcomes.

Bodine, who spoke to Channel 9 over the phone from his South Florida home, was not afraid to express his opinions on NASCAR changing hands.

"I was kind of surprised it hadn't already taken place,” Bodine said. “I'd like to see it."

ESPN reported that the France family, who holds a controlling a stake in NASCAR, is exploring interest in selling it.

Brent Dewar, NASCAR’S president, sent a memo to employees saying the France family, "remains dedicated to the long-term growth of our sport."

The memo was sent to employees on Tuesday, one day after a media report said the France family was exploring the sale of its stake in the nation's top auto racing series. The Associated Press received a copy of the memo from a person who shared it on condition of anonymity due to the sensitive nature of the topic.

Dewar wrote in the memo that NASCAR does not comment on "industry rumors," but did not specifically address a possible deal by the France family.

NASCAR has struggled with recent ratings and attendance declines, and several big-name sponsors have scaled back or pulled out.

"I'd like to get involved in that and try to make this thing get back on track and be popular again,” Bodine said.

During his time on the track, Bodine battled arguably the toughest drivers in history when NASCAR was wildly popular -- a stark contrast from today's declining TV ratings and race attendance.

"A lot of us drivers and veteran drivers and the fans are saying stop with these crazy rules and all these inspections,” Bodine said.

Tom Hall, a NASCAR fan who drove from Maryland to Charlotte's NASCAR Hall of Fame, agrees with Bodine’s assessment.

"It got expensive,” Hall said. “I really don't like the way NASCAR tweaked the rules with trying to equal things out."

Bodine said NASCAR needs to burn the rule book.

"There's so much to do in this world today and once you lose a fan base, it's hard to get it back,” Bodine said.

NASCAR officials told Channel 9, “No comment” when asked about the sale.

There's talk of Charlotte Motor Speedway owner Bruton Smith showing interest, but speedway officials seemed critical of the speculation and said they wouldn't have a statement.

NASCAR for sale? France family exploring options, reports say

The France family has engaged investment bank Goldman Sachs to explore a sale of the sanctioning body, ESPN reported.

Reuters first reported the potential for a sale, which has been rumored for more than a decade. Those rumors have increased over the past year amid NASCAR's struggles to attract fans, both in-person and on television.

The three public companies that own tracks where NASCAR races take place have reported a combined attendance revenue decline of 54 percent over the past decade.

Ratings for many races this year have hit all-time lows, as recent years have seen the exit of the sport's two most popular drivers, Jeff Gordon and Dale Earnhardt Jr. Three other drivers who occasionally transcended the sport, Carl Edwards, Tony Stewart and Danica Patrick, are also gone.

A spokesperson for NASCAR had no comment on the potential sale, which sources tell ESPN is not a foregone conclusion.

NASCAR does not comment on its ownership structure, but according to court documents in various lawsuits, it is co-owned by Jim France, the one surviving son of NASCAR founder Bill France Sr., and Lesa France Kennedy, the granddaughter of Bill France Sr. and daughter of Bill France Jr.

"Our business is racing, that's what we're investing in," Jim France Jr. said after buying the Automobile Racing Club of America (ARCA) Series last month. "We've done it all of our lives, and we're going to continue to do it."

What would be included in any type of sale is unclear. Lesa France spends much of her time focused on her role as CEO of International Speedway Corp., the publicly traded company that operates 12 racetracks. Another member of the France family is Lesa France's brother, Brian France, who serves as NASCAR's chairman and CEO, owns 74 percent of the company's stock, ESPN reported.

NASCAR has also struggled with keeping sponsors, which are so integral to the sport. Gone in recent years are long-time brand supporters like Sprint, Home Depot and UPS. Lowe's, which has sponsored Jimmie Johnson for 18 years, is leaving after this season. Monster Energy, which got a cheap $20 million deal to sponsor NASCAR's main Cup cars this year, has committed to another year, but will be a lame duck next season.

Possible bidders include Marcus Smith, president of Speedway Motorsports Inc. Insiders said Smith wants to make his own legacy in sports, separate from his father, Bruton Smith. While the Smiths had interest in buying the Carolina Panthers, the $2 billion-plus price tag was too much for them to become majority owners. Comcast is also bound to come up, not only because of its sponsorship of the Xfinity Series, but because the idea of a media company buying a racing series for content is fresh in minds after Formula One was purchased by Liberty Media.

One potential hurdle in negotiations could be that the NASCAR charter agreement -- NASCAR's version of a franchise -- with the teams runs only through 2020. The teams have the option to extend it through 2024, the end of the current 10-year television deal that is worth an average of $820 million each year. Any buyer likely would need assurances from the teams that they would continue to participate, and team owners could see this as their opportunity to obtain a bigger percentage of the television money. Teams currently get 25 percent through the race purse while NASCAR keeps 10 percent and the racetracks take in 65 percent, ESPN reported.

Increased Traffic Expected in Charlotte during Race Events

Thousands of race fans will be populating the roadways in northeast Mecklenburg County and southwest Cabarrus County in the coming days as NASCAR events kick off May 17 at Charlotte Motor Speedway, capped by the Coca-Cola 600 on May 27. The North Carolina Department of Transportation is preparing for increased traffic on I-85, U.S. 29, N.C. 49 and Bruton Smith Boulevard.

NCDOT will utilize overhead message signs and portable message signs to alert motorists of potential problem areas and suggested alternate routes around incidents and congestion. The department advises motorists to check for real-time traffic information by going to www.DriveNC.gov, calling 511 or following NCDOT on Twitter.

Bruton Smith Boulevard often sees the most traffic volume, since mobile direction services and GPS devices typically direct users to this route. Because of this, NCDOT encourages motorists to use U.S. 29 to access the speedway whenever possible.

The following are suggested routes for motorists heading to Charlotte Motor Speedway:

For motorists traveling from South Carolina: Take I-77 North to the I-485 outer loop (Exit 1B) to U.S. 29 North (Exit 32) or N.C. 49 North (Exit 33);

For motorists traveling from west of Charlotte: Take I-85 North to I-485 (Exit 30) and follow I-485 Inner to U.S. 29 North. An alternate route is I-85 North to Poplar Tent Road (Exit 52) to Pitts School Road to U.S. 29 South;

For motorists traveling from east of Charlotte: Take the I-485 outer loop to U.S. 29 North (Exit 32) or N.C. 49 North (Exit 33).

For motorists traveling from north of Charlotte: Take I-85 South to George W. Liles Parkway (Exit 54) to U.S. 29 South.

Commuters who use I-85 through this area should adjust driving time or, if possible, use an alternate route, especially if traveling during the weekend.

After race events, all traffic will be directed away from the speedway. Motorists should follow the direction of law enforcement at all times.

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