As part of their federal anti-trust lawsuit against NASCAR and International Speedway Corp., Kentucky Speedway lawyers are apparently raising questions about the exact ownership of NASCAR.

Kentucky Speedway is suing NASCAR and ISC, in U.S. District Court in Kentucky on anti-trust grounds. Kentucky Speedway alleges that NASCAR and ISC illegally conspire to keep Nextel Cup dates away from non-ISC tracks.

NASCAR is a privately owned company run by the France family, while ISC is a publicly traded company, whose majority of voting stock is owned by the France family. NASCAR and ISC deny Kentucky’s claims of a conspiracy.

Lesa and Brian are the children of former NASCAR Chairman Bill France Jr., while Jim is Bill’s brother. Lesa is president of ISC, while Jim is ISC’s CEO.

The judge, in his memo detailing issues from the conference call, wrote about some of the allegations in the case.

“Brian France, the current chairman and CEO of NASCAR, holds no stock in NASCAR but does hold stock in ISC,” the judge wrote in his memo. “Jim France, CEO and board member of ISC, is also vice chairman and one of two current owners of NASCAR. Lesa France Kennedy, president and board member of ISC, is also a vice president and board member of NASCAR and one of its two current owners.”

Later in the memo, however, it appears that the exact details of NASCAR’s ownership haven’t been totally ascertained:

“Plaintiff [Kentucky Speedway] argues that if Jim France and Lesa Kennedy are either the majority or sole owners of NASCAR, as plaintiff suspects, then their roles as CEO and president of ISC provides them with a motive to aid NASCAR’s alleged monopoly.

“Similarly, plaintiff asserts that if Brian France, chairman and CEO of NASCAR, does not hold stock in NASCAR but only in ISC, he may be motivated to aid ISC in its alleged attempt to monopolize the hosting market.”

Scene Daily

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