International Speedway Corporation

International Speedway Corporation was diversified across the racing industry. The company owned and operated (1) Motor Racing Network, Inc. (MRN Radio) the nation's largest independent sports radio network, (2) DAYTONA USA, the official tourist attraction of NASCAR, and (3) Americrown and Motorsports International, providers of catering services, food and beverage concessions, and producers and marketers of motor sports merchandise. Each of the company's segments had seen a surge in growth commensurate with the popularity of the sport. Excerpt UVA-C-2222 Rev. Jan. 9, 2017 International Speedway Corporation Modern stock car racing had its start more than 100 years ago on the beaches of Daytona Beach, Florida. The beaches were then as they are today—expansive and perfectly suited for automobiles. Automobile traffic on Daytona's beaches was the norm as their sheer size alone kept them relatively free from pedestrian accidents. Once each day the sands were wiped clean by the outgoing tides and became hard-packed. A vehicle trapped in soft sand, a problem typical of most beaches, was only of minor concern to Daytona's traffic. NASCAR In the mid-1930s, William “Big Bill” France saw firsthand the racing potential of Daytona. As the owner of a local gas station, France had a natural interest in automobiles and frequented the speed trials and competitive races held on the beaches. Occasionl he would enter a race himself. Like all drivers and promoters of that era, France was frustrated by the lack of uniformity. Schedules, rules, car specifications, and driver safety requirements all varied. Corruption was rampant. It was not unusual for a race winner to arrive at the checkered flag only to learn that the promoter had skipped town with the purse. As a rule cars that entered these races were “stock” or right off the showroom floor. As might be expected, to gain advantage over competitors almost all drivers dangerously modified their cars from stock to gain extra speed. Despite the fact that racing was flourishing throughout the southeast, France recognized that for the sport to ultimately succeed it was necessary to set common rules, establish common racecar specifications, and vigilantly promote each race under a common umbrella. To effect these changes, in 1947, France organized a meeting of a group of business leaders at Daytona's Streamline Hotel. From that meeting the National Association of Stock Car Auto Racing (NASCAR) was formed. . . .