France family expects further NASCAR decline

In the SEC filing Daytona Speedway's parent company ISC reported a slight decrease in fourth quarter revenues, of $202 million, compared to $205 the same period in 2008. That was despite the move of the California 500 from September (2008) to October last season.

Overall for the year (ending Nov. 30th), ISC's total revenues were $693 million, down from $787 in 2008. The ISC reported it anticipates revenue this season between $660 million and $680 million.

The ISC pointed to "continued adverse economic trends which increasingly contributed to the decrease in attendance related as well as corporate partner revenues for certain of the Company's events…."

The ISC concedes "advance ticket sales are still trending down…and corporate partnership sales, while encouraging, are also expected to decrease."

Hence the announcement that NASCAR is cutting both its track sanctioning fees and its purse and point fund money.

The ISC predicts this season attendance will "decrease in the mid-to-high single digits," and it says it expects revenue from sponsorship, hospitality and advertising to decline about five percent.