As NASCAR continues to become less and less relevant, a report has surfaced that the majority owners of the brand are exploring options, including a sale of the majority stake.
Ratings are declining at a steeper rate than the normal trend of cable TV. The Daytona 500, NASCAR’s signature event has seen a ratings decrease of 30% since 2015.
If you ask a NASCAR fan, the sport’s been ruined with multiple decisions by the sport (e.g. “The Car of Tomorrow” and Stage racing) and a lack of star power. Others would say that NASCAR’s core fans are all getting old while they’re failing to connect with the next generation of potential fans.
NASCAR is looking to partner on an esports venture. It’s a step in the right direction. Host racing video game tournaments on site at the track ahead of NASCAR events. The NBA, a league currently growing in the demographic NASCAR is lacking, is all-in on esports. It makes sense for NASCAR to follow their lead.
New leadership makes sense. The France family, who owns controlling stake, has turned to investment banking specialists Goldmach Sachs Group to help find a potential deal.
The sport needs a face-lift and a boost of energy. It may be getting one soon.
But is it too late?