NASCAR (the National Association for Stock Car Auto Racing) is a family-run business that was founded in 1948. The founder, “Big Bill” France, wisely saw the demand for a car racing circuit in the Southern U.S. states. His son turned the business into a giant that is now run by the third generation. NASCAR has built sweeping popularity among racing fans far outside the South. Races are now often held in cities outside of southern states.
However, attendance and viewership of NASCAR races are dropping. So are top team valuations. The top ten teams were worth an average of $137 million in 2017, down 7% from 2016. The costs of running a team are large. It takes as much as $10 million to hire a winning driver for one year and $25 million to keep a car on the track. Primary team sponsorship costs between $350,000 and $500,000 per car per race, while top race series sponsorship runs in the millions.
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