Apparently, NASCAR brass held a top-secret meeting with drivers and team owners this morning to discuss the state of the sport and the importance of spending time with fans. Honestly, I can't tell you what was said but one might speculate that it also had to do with the recent $250 million discrimination lawsuit filed against the sanctioning body. NASCAR said the lawsuit was not discussed and I believe them. I have tried to find a copy of the lawsuit but it has not yet been posted to the federal government's PACER Web site. I will obtain a copy of the lawsuit as soon as possible and post it here for everyone to read.
Now, what follows below is something that I stole from FORBES. If you want to read the entire article the goto www.forbes.com. I lay no claim to the information, I just thought my readers might be interested in what FORBES came up with concerning the value of NASCAR teams. It should be interesting reading.
Taken from the FORBES.COM Web site:
There's a widening gulf in NASCAR between stock car racing's biggest, most valuable teams and those hoping to hang on for just one more race. Since our first NASCAR valuation package two years ago, values have rocketed skyward, up 65% on average, to $119 million, thanks to a rash of investment in a sport whose radical growth over the past decade appears to be sputtering.
In the past year, billionaire investors like George Gillett, the owner of the NHL's Montreal Canadians and English soccer club Liverpool, and Fortress Investment Group President Rob Kaufman purchased stakes in teams (Gillett Evernham Motorsports and Michael Waltrip Racing, respectively) after seeing value in NASCAR.
They aren't alone. Stock car racing is also seeing interest from within--mergers of middling teams are yielding ready-made contenders as teams begin to realize the new efficiencies of operating, say, two cars from one expanded shop rather than separately. Example: Ginn Racing teaming with Dale Earnhardt Inc. prior to this season.
WWW.FORBES.COM
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