NASCAR will buy the International Speedway Corporation in a deal worth an estimated $2 billion, the Associated Press reports.
The deal, through which shareholders will reportedly receive about $45 per share, should close by the end of 2019.
“We are pleased with the progress that the negotiation and execution of the merger agreement between NASCAR and ISC represents,” a NASCAR statement read. “While important regulatory and shareholder approval processes remain, we look forward to the successful final resolution of this matter and continuing our work to grow this sport and deliver great racing experiences for our fans everywhere. With a strong vision for the future, the France family’s commitment to NASCAR and the larger motorsports industry has never been greater.”
This move should make schedule changes easier to map out in the future, and as a private company it will no longer have to provide attendance revenue and other financial details.
ISC owns 13 tracks, 12 of which host NASCAR races: Auto Club Speedway, Chicagoland Speedway, Darlington Raceway, Daytona International Speedway, Homestead-Miami Speedway, ISM Raceway, Kansas Speedway, Martinsville Speedway, Michigan International Speedway, Richmond Raceway, Talladega Superspeedway and Watkins Glen International.
Eight other Cup Series tracks are owned by Speedway Motorsports Inc., and the remaining tracks – Dover International Speedway, Indianapolis Motor Speedway and Pocono Racway – are privately owned.