NASCAR To Retain TV and Media Rights

NASCAR to retain TV and media rights DAYTONA BEACH, Fla. (Feb. 24, 1999) NASCAR announced Wednesday that it will return to retaining and negotiating its television, radio and other electronic media rights beginning with the 2000 race season for...

NASCAR to retain TV and media rights

DAYTONA BEACH, Fla. (Feb. 24, 1999) NASCAR announced Wednesday that it will return to retaining and negotiating its television, radio and other electronic media rights beginning with the 2000 race season for its NASCAR Winston Cup Series and NASCAR Busch Series Grand National Division events.

"The decision by NASCAR was made after considerable research," said Mike Helton, senior vice president and chief operating officer for NASCAR. "By retaining and negotiating the rights, we will be able to develop new strategic values and new media products that would not have been possible under our old approach. Today's decision will continue to propel the growth of the sport well into the next century and we believe it will significantly benefit the entire industry, and particularly our fans."

NASCAR has no plans to change its current television rights fee distribution formula of 65/25/10 that is distributed to tracks, competitors and the sanctioning body, respectively.

"We do not anticipate any significant changes to NASCAR programming prior to the 2002 season," said Bray Cary, vice president of broadcasting for NASCAR. "As we look to the future however, NASCAR expects to work with each of the current broadcast and cable networks to enhance everyone's opportunities to benefit from our great sport."

NASCAR has retained and negotiated the television rights for the NASCAR Craftsman Truck Series since the series' inception in 1995.

Source: NASCAR Online

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Series NASCAR Cup