Nascar ‘absolutely not’ for sale, says Phelps

Nascar president Steve Phelps (Credit: Getty Images)

The France family is not looking to sell US stock car racing series Nascar, according to its president Steve Phelps.

Speaking to Fox Business ahead of this weekend’s Daytona 500, Phelps said: “Absolutely not, the France family is not interested in selling Nascar at all. I don’t foresee that in the short term, I don’t see it in the long term. This is their legacy. It’s going to continue.”

In 2018, it was reported that the France family was working with investment bank Goldman Sachs Group to explore a possible sale of the company.

However, it now appears that this move is off following a series of changes designed to strengthen the position of Nascar in the sporting landscape after a decade of decline, most notably a $2bn merger with track operator International Speedway Corporation.

“We see significant growth that will come from the merger of these two companies,” Phelps added.

Meanwhile, Nascar has announced an official partnership with the US Census Bureau, which is designed to spread awareness and encourage participation in the once-a-decade national census.

As part of the strategic partnership, the Census Bureau will become the race entitlement partner of the Nascar Xfinity Series race at Homestead-Miami Speedway on March 21. The Census Bureau will also have at-track activation at Phoenix Raceway, Auto Club Speedway, and Richmond Raceway.

Additionally, an educational campaign will run across Nascar’s digital platforms and air across Nascar programming on Motor Racing Network.

It has been also reported that US president Donald Trump could attend the Daytona 500 on February 16.