The majority owners of NASCAR, the company which operates the namesake U.S. car-racing series and other motorsport events, are exploring options that include the sale of a majority stake, people familiar with the matter said on Monday.
The move comes as NASCAR grapples with an aging fan base, stricter safety rules and a competitive media landscape that have weighed on its popularity and made it less attractive to advertisers and sponsors.
The France family, which controls NASCAR, is working with investment bank Goldman Sachs Group Inc. to identify a potential deal for the company, three sources said, cautioning that the deliberations are at exploratory stage and no agreement of any kind is certain.
The sources asked not to be identified because the deliberations are confidential. READ MORE