Who owns NASCAR?

NASCAR stands for National Association for Stock Car Auto Racing. It is the premier stock car racing championship in the world, and the majority of the races take place across the United States. The highest level of NASCAR is the Cup Series. The other famous but minor leagues are the Xfinity and the Camping World Truck Series. There are also regional NASCAR-sanctioned championships that work as a ladder for upcoming drivers.

NASCAR was popular in the Southeast side of the United States, and now the sport has become one of the most-watched racing series in the world. it has one of the most craziest fans following ever in the Motorsports world. The races are broadcasted in over 100 countries globally. There have been legendary racers throughout the history of the sport. Richard Petty, known as “The King,” has about 200 race wins. Some of the other historical and popular drivers are Dale Earnhardt, Cale Yarborough, Darrell Waltrip, Jeff Gordon, David Pearson, Jimmie Johnson and Bobby Allison. 

So what is the story behind this premier organization? It was formed by Bill France Sr. (a.k.a William Henry Getty France) in 1948. France contributed to turning the hobby of racing into a competition. He put together rules and regulations to systematize racing. In 1948, the first NASCAR race was held at Daytona Beach in Florida. The first Cup Series race was run in June 1949. The first NASCAR champion was celebrated in October of the same year. 

Discover: Top 10 richest NASCAR teams

History of NASCAR owners 

Bill France Sr.’s son Jr served as the vice president for NASCAR for six years. He became the head of the sport after his father retired in 1972. NASCAR went from a Southern region sport to a national sport in Bill France Jr’s period. He played a fundamental role in taking the sport outside the American base. France Jr signed deals to broadcast the races. 

The International Motorsports Hall of Fame beautifully described his era. “Other than the founding of NASCAR itself, Bill Jr.’s appointment to leadership is probably the most significant event in the history of the sanctioning body.” When France Jr. was diagnosed with cancer, he turned the presidency of NASCAR over to American businessman Mike Helton in 2000. He then made his son Brian France the CEO of NASCAR in 2003. However, he remained a member of the six-person board of directors till his death in 2007. 

Who owns NASCAR now?

The France family, under the leadership of Jim France, owns NASCAR now. Jim France is the CEO, the chairman, and the executive vice president of the sport. Jim France is the son of Bill France Sr. and brother of Bill France Jr. Along with his brother Jim inherited control of NASCAR and ISC upon his father’s death in 1992. He served as an advisor to his brother till 2000. After his nephew, Brian France, became the CEO, Jim also served him as an advisor.

In 2018, his nephew Brian France was arrested based on suspicions of DUI in New York. Hence, Brian took a leave of absence from all his NASCAR duties until his legal case was resolved. Jim France then became the CEO and Chairman of NASCAR. The racing organization is a privately owned company. It has been in the family since 1948. NASCAR’s Racing Series 

In case you missed it:

• Top 5 Richest NASCAR Team Owners 

• Top 10 richest NASCAR Drivers of all time