NASCAR Commissioner Steve Phelps has confirmed that while private equity is playing an increasingly prominent role in the sport\u2019s team operations, the France family has no intention of selling any stake in NASCAR itself.<\/b><\/p>\n
Speaking amid rising private equity interest, Phelps highlighted that firms investing in race teams are adding value by providing expertise, capital, and innovative perspectives. Many of these firms already have stakes in major sports franchises across the NFL, NBA, NHL, and MLS.<\/p>\n
\u201cThey\u2019re providing expertise that the race teams don\u2019t have,\u201d said Phelps. \u201cThey\u2019re also providing capital, which is a good thing for the owner of these particular charters.\u201d<\/p>\n
Private equity firms have been drawn to NASCAR teams partly due to the substantial financial uplift tied to recent charter extensions and new media rights deals. Phelps stated that \u201cevery single dollar\u201d of incremental revenue from the new deals was directed to the race teams, supplemented by contributions from NASCAR and track owners.<\/p>\n
The commissioner reaffirmed that this strategy aims to improve race team profitability and raise the overall standard of racing.<\/p>\n
However, Phelps firmly shut down speculation that private equity could one day hold a stake in the governing body itself. \u201cWe are privately held by the France family, and we\u2019re not interested in selling,\u201d he said. \u201cWe\u2019re thrilled that P.E.s are coming in with the race teams. That\u2019s certainly not something that we are entertaining at this point.\u201d<\/p>\n
The remarks draw a clear boundary: private equity is welcome at the team level, but NASCAR\u2019s ownership remains firmly in the hands of the founding family.<\/p>\n
Source: PFSN<\/a><\/p>\n