ISC Buys Richmond International Raceway

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RICHMOND, Va. (Dec. 1, 1999) Richmond International Raceway and International Speedway Corporation officials announced Wednesday the addition of Richmond International Raceway to ISC's family of motorsports facilities. In a news conference at...

RICHMOND, Va. (Dec. 1, 1999) Richmond International Raceway and International Speedway Corporation officials announced Wednesday the addition of Richmond International Raceway to ISC's family of motorsports facilities.

In a news conference at the .750-mile RIR oval, ISC President Jim France told members of the media Richmond International Raceway and the Sawyer family are now part of ISC's broad range of motorsports holdings at a purchase price of $215 million.

Richmond is the only three-quarter-mile track hosting NASCAR Winston Cup Series, NASCAR Busch Series Grand National Division and NASCAR Craftsman Truck Series races. The track is popularly known as "The Action Track."

Richmond will host two major weekends of NASCAR racing in 2000. On May 5-6 the track will host the NASCAR Busch Series and NASCAR Winston Cup Series on Friday and Saturday nights. On consecutive nights from Sept. 7-9 the track will host the NASCAR Craftsman Truck Series, NASCAR Busch Series and NASCAR Winston Cup Series.

"This acquisition adds yet another premier venue to the ISC motorsports family," France said. "More importantly, this continues a longstanding relationship my father began with Paul Sawyer and his family more than 45 years ago. We're extremely excited to be associated with longtime friends, a quality facility and a great management team.

"Richmond International Raceway is a favorite with fans and drivers. We look forward to building on this tradition so firmly established by the Sawyer family."

Virginia native Douglas Scott Fritz, an experienced marketing executive with NASCAR and ISC, will serve as vice-president and general manager and oversee daily operations of the track. Fritz, 40, grew up in Springfield, Va. He is a 1981 graduate of Virginia Tech, where he majored in marketing.

The Sawyer family will assist Fritz in the operation of the track. Richmond International Raceway founder Paul Sawyer will serve as chairman of the board. James H. (Jim) Hunter, a vice-president of ISC, will serve as vice-chairman. Wayne Sawyer is president and Bill Sawyer is executive vice-president. Kenneth Campbell will continue to serve as vice-president, marketing and community relations and Jack Cahoon will also continue as vice-president of operations under the new management structure.

"The Sawyer family, Paul in particular, has worked long and hard in the NASCAR motorsports field to put Richmond International Raceway at the forefront of today's remarkable growth," France said. "I am confident Richmond International Raceway will continue to expand on its wonderful reputation as one of the premier facilities in the sport today."

"We know the business community and the dedicated Virginia race fans will embrace this move as a logical step in the future growth and expansion of Richmond International Raceway," Paul Sawyer said. "We're excited about it and look forward to working with International Speedway Corporation to make this the absolute best facility in NASCAR racing today. We're also looking forward to working with fellow Virginian Doug Fritz."

Fritz has been involved in all aspects of sales, marketing and sponsorship services during his career.

"I'm looking forward to returning to my home state," Fritz said. "It's a wonderful opportunity to be involved with such an outstanding family as the Sawyers and the opportunity to be a part of the future growth of what will certainly be regarded as one of NASCAR's premier major market facilities.

"There's a talented staff here now and I'm looking forward to working with them to maximize our future position in the motorsports world."

nascar.com

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Series AUTOMOTIVE , NASCAR-CUP