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NASCAR majority owners exploring potential sale

CHARLOTTE, N.C. — Could NASCAR be up for sale?

According to a Reuters report released Monday, NASCAR majority owners have entered into preliminary discussions about the potential sale of their majority stake. Reuters reported that while the discussions are exploratory in nature and no deal is imminent, the France family - which has owned NASCAR since its inception in 1948 - at least has real interest in selling the motorsports company.

Citing sources familiar with the sale, Reuters reported that NASCAR could attract interest from media companies and private equity firms.

Reuters also said that NASCAR is working with Goldman Sachs in exploring potential deals. A spokesperson for Goldman Sachs declined to comment. NASCAR spokesman Jon Schwartz also declined to comment.

The possible sale of NASCAR comes at a time when the industry has been grappling with declining sales.

Concord-based Speedway Motorsports, which owns nine race tracks nationwide including Charlotte Motor Speedway, saw its total revenue fall 7.4 percent last year. Admissions-related revenue fell to $86.9 million, down from $90.6 million the year prior, the company said in its annual report filed in March.

NASCAR’s current television agreements with NBC and FOX expire in 2024

NASCAR has cited a number of reasons for the decline of its TV ratings and race-track attendance numbers in recent years, including the retirement of fan favorites such as Dale Earnhardt Jr.

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