NASCAR makes $2 billion deal for 12 tracks

NASCAR announced the $2 billion purchase of International Speedway Corp. on Wednesday, an aggressive move to gain control of key racetracks and set itself up for sweeping changes to America’s most popular racing series.

The deal is expected to close by the end of the year.

ISC owns 12 tracks that host NASCAR races, including Daytona International Speedway, Talladega Superspeedway, Darlington Raceway and Homestead-Miami Speedway. Its holdings stretch from New York to California, and ISC is one of two major facilities companies that host NASCAR races, along with Speedway Motorsports Inc.

Gaining control of a dozen tracks, along with Iowa Speedway, which it already owns, would seemingly make it easier for NASCAR to alter its racing schedule, including the possibility of fewer events. NASCAR President Steve

Phelps has made it clear that the 38-race schedule in the top-tier Cup Series, generally considered too taxing for teams and fans, is among the areas the sanctioning body is looking to change.

Seven of the ISC tracks host not just one Cup Series race each season but two.

NASCAR’s five-year agreement with tracks ends after the 2020 season.

The agreement is the latest makeover for NASCAR as it scrambles to win new fans and end a decline in attendance and ratings. And more deals could be on the horizon.

The parent company of Speedway Motorsports made an offer last month to acquire all its outstanding common stock, which would privatize SMI and make it better positioned for an anticipated NASCAR overhaul.

Bruton Smith is the founder and majority stakeholder in SMI, which operates eight tracks that host NASCAR Cup Series races. Smith and his family also own Sonic Financial Corp.

SMI declined comment on Wednesday’s announcement.