Red Sox owner John Henry shows interest in NASCAR ownership – report
Credit to Author: TNS| Date: Sat, 22 Dec 2018 16:31:59 +0000
In May, word leaked that the France family was exploring the possibility of selling some, most or all of its NASCAR ownership.
Soon thereafter, the topic seemed to go deep underground, but a Tuesday report by Bloomberg.com suggested one potential suitor — at least in minority form — is John Henry, whose sports holdings include the Boston Red Sox, the Liverpool soccer team of the English Premier League, and a partnership with Jack Roush’s NASCAR race team.
The Bloomberg report includes no comments from anyone with NASCAR or Henry’s Fenway Sports organization.
NASCAR declined to comment on the situation when reached by The News-Journal.
Henry’s NASCAR involvement began in 2007 when he purchased a partnership with Rough Racing, forming Roush Fenway Racing.
Last month, six months after the initial news of NASCAR potentially seeking a buyer, NASCAR’s ownership — the Daytona Beach-based France family — began efforts to buy back shares of its publicly traded International Speedway Corp., the family-run organization that owns and operates 12 speedways that are hosts to NASCAR races, including Daytona.
Bloomberg reports that NASCAR’s bid for ISC stock last month was worth $1.9 billion. A combining of NASCAR and ISC ownership would help facilitate a full or partial sale of NASCAR’s family-held shares, according to industry insiders.
NASCAR is currently headed by Jim France, 74, youngest son of founder Bill France Sr. Jim France took over as interim CEO in August following the arrest of third-generation NASCAR leader Brian France, who was charged with DUI and possession of a controlled substance after a traffic stop in Long Island, N.Y.
TNS
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