Report: CVC in negotiations to buy NASCAR-UPDATE
Quote selected text Published November 18th, 2007 in NASCAR News
UPDATE:
NASCAR says speculation that its family-owned company is for sale to the same European private equity firm that owns the Formula One group is “unequivocally false.”
A recent report in the racing business newsletter The Business of Motorsport, suggested that CVC Capital Partners, which manages funds internationally totaling more than $23.7 billion, was the “most-likely buyer” of NASCAR, Inc. from the France family. NASCAR spokesman Ramsey Poston, quoting a conversation he had on the matter with chairman Brian France, said France’s reaction was an emphatic no. “[France said] It’s a dead end story that has nothing remotely accurate,” Poston said. “I spoke with Brian. NASCAR is not for sale.”
CVC representatives, reached in the company’s New York office Friday, chose not to comment on the matter. CVC Capital Partners opened its first US office in Manhattan in March “to expand its American business,” and already has purchased the luggage company Samsonite for $1.7 billion. CVC also recently bought the GP2 racing series for $300 million, and the report states that speculation has surfaced that they’re also contemplating purchasing the sanctioning body that owns the Dakar Rally and Tour de France cycle race.
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According to Grandprix.com, CVC Capital Partners - which already owns F1 and the GP2 series and indirectly controls MotoGP through another company - is negotiating to buy NASCAR.
F1 supremo Bernie Ecclestone is said to be involved as well.
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Umm I searched all around Grandprix.com and i couldnt find anything about this.
I hope this isn’t true.
OH NO
Bernie as head of NASCAR
NOO
just another rumor
I hope it’s true. Passing is overrated. Now we can watch the Coca-Cola 600 with only 2 or 3 passes. Very stimulating. Maybe Bernie will make everyone drive convertibles, that way NASCAR will have to get umbrella girls.
Michael wrote:
They used to race convertibles back in the day so why not. And Cali Speedway allready has umbrella girls… And I dont think any male fans would complain if every NASCAR track gets them… l0l
Hmm Maybe we wouldnt have to deal with Bernie… http://www.f1complete.com/content/view/6873/900/
This guy sucks. He has bad car counts. If he takes over NASCAR, expect 23 cars and about 42,000 fans per race. He almost makes Brian France look like Einstein.
wrote:
What are you talking about Bad car counts? F1 is a closed series like the Cup series should be.
wrote:
Bad car counts? 42,000 fans? I suggest you do some research on F1 before making claims like that. The amount of teams in F1 is purposely restricted and a lot of the races easily clear 100,000 fans in attendance.
Maybe instead of worrying about CVC/Bernie Ecclestone buying NASCAR, you should worry about how Brian France has said he isn’t worried about NASCAR’s TV ratings being down about 15%. Ecclestone couldn’t screw things up much worse than the France’s have been lately.
wrote:
Alot of folks don’t realize that F1 actually has the largest motor sport fan base in
the world, not sure of exact numbers but its significantly larger
than NASCAR. I personally find F1 boring even thought I’ve been to a
couple of races. But, at least Bernie didn’t inherit his position as Brian
France did. Thats why NASCAR is in decline, iits being run by someone
who has always had things handed to him, alot like Tony George and the IRL.
848 wrote:
I look at the ratings being down as this.
You have to be a Neilson family to be counted for the ratings, so since I’m not a Neilson family What I watch on tv has no effect on the ratings. So really the an easy explination for the NASCAR ratings being down is that the current Neilson familys just arent NASCAR fans. And if you arent a fan of something and you dont want to be then there is nothing that any body can do about it.
Fisha695 wrote:
How would that account for the 15 +/- percent drop in ratings. The people belonging to that 15% were Neilson households…and now, aren’t? The drop has occured in households that Neilson has been monitoring.
I understand what you mean as far as there being more viewers in households not counted by Neilson, but…
In regards to my first response earlier, Formula One probably wouldn’t be where it is today if it weren’t for Ecclestone. If people hate him for his actions or some things he says, fine, but he was one of the key factors in making F1 as popular as it is today.
Bernie Ecclestone would ruin American racing. F1 is great if you like follow the leader. Sure, it’s the biggest motorsport in the world, but it is the only real series that travels the world over and has drivers from all different countries. Comparing NASCAR to F1 is like apples to oranges.
Bernie Ecclestone is the one that took the F1 race away from the U.S. and said that F1 doesn’t need us. Fine if some other group wants to buy NASCAR as long as it doesn’t include Ecclestone and his cronies.
If CVC buys NASCAR, it is the beginning of the end. I hope this is false.
Get started Bernie,things can’t get any worse than they are now.