Chicago racetrack ISC press release

International Speedway Corporation and Partners Selected as Prospective Developers of Chicago-area Superspeedway DAYTONA BEACH, Fla. -- (December 30, 1996) -- Officials at International Speedway Corporation (Nasdaq/NM: ISCA and Nasdaq ...

International Speedway Corporation and Partners Selected as Prospective Developers of Chicago-area Superspeedway

DAYTONA BEACH, Fla. -- (December 30, 1996) -- Officials at International Speedway Corporation (Nasdaq/NM: ISCA and Nasdaq Bulletin Board: ISCB) announced today that the Motorsports Alliance, of which the Company is a member, has been selected by the DuPage Airport Authority as the prospective developer of a superspeedway on vacant airport property west of Chicago. The Alliance's selection in a competitive RFQ (Request for Qualification) process permits it to conduct exclusive feasibility studies to determine the project's economic and environmental viability. As previously reported, the Motorsports Alliance, a combined venture between ISC, Indianapolis Motor Speedway Corp. and Mr. John Menard, had selected DuPage Airport as one of several sites in the Chicago area under consideration for the feasibility of developing a new motorsports facility. The superspeedway currently being discussed would be a $60 million, 1.5-mile oval track with seating for 80,000 spectators and 20 to 30 corporate suites. The duration of the feasibility study has not been determined, but could be as long as 18 months. If the project is determined to be economically and environmentally feasible by both the Motorsports Alliance and the Airport Authority, it is contemplated that the Alliance would be the developer of any multi-motorsports entertainment facility on the site. At this preliminary stage, no terms have been determined. "We are very pleased that the DuPage Airport Authority has chosen the Motorsports Alliance to study the development of a superspeedway," said James C. France, president of ISC. "We look forward to accelerating our investigative efforts at this site." Indianapolis Motor Speedway Corporation, through an affiliate, IMS Events, Inc., built the one-mile Walt Disney World Speedway outside Orlando, Fla., where it promotes two events, the Indy 200 at Walt Disney World (Indy Racing League) and the Chevy Truck Dealers 200 (NASCAR Craftsman Truck Series). The Indianapolis Motor Speedway is the home of the famed Indianapolis 500. John Menard is the sole owner of Menard, Inc., a Midwest regional chain of lumber and home improvement stores based in Eau Claire, Wis. The 120-store chain had fiscal 1995 sales of over $2.5 billion. Involved in Indianapolis-style racing since 1979, Menard is also the owner of Team Menard, an IRL team based in Indianapolis. ISC operates Daytona International Speedway, home of the Daytona 500, MRN Radio, the nation's largest independent sports radio network, and the recently-opened DAYTONA USA motorsports attraction in Daytona Beach, Fla.; Darlington (S.C.) Raceway; Talladega (Ala.) Superspeedway; and Tucson (Ariz.) Raceway Park. ISC also owns 50 percent of Watkins Glen (N.Y.) International and 12 percent of Penske Motorsports, Inc. Additionally, ISC recently announced that it is independently exploring the feasibility of developing a multi-motorsports entertainment complex in the Kansas City, Mo., area.

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