NASCAR buys Grand-Am
Grand-Am, one of the world’s most competitive road racing organizations, and NASCAR, the No. 1 spectator sport in the U.S., will combine marketing and communications efforts to include brand management, research, marketing and public relations.
Grand-Am consists of six racing series, including the Grand-Am Rolex Sports Car Series and the Grand-Am KONI Challenge Series, which has millions of loyal fans.
“This combination of resources will benefit Grand-Am and NASCAR, their competitors and fans, as the two companies work together to enhance the two sports," said Jim France, NASCAR Vice Chairman and Grand-Am founder.
The two racing brands will continue to independently sanction and officiate race events for their own series and there will be no change in management. Roger Edmondson will continue to serve as president of Grand-Am.
There has been a rise in crossover drivers and team owners between Grand-Am and NASCAR in recent years. NASCAR drivers such as Jimmie Johnson, Tony Stewart, Kyle Petty, Bobby Labonte, Juan Pablo Montoya, Kurt Busch and Jeff Gordon have raced in the Grand-Am Rolex Series. Full time driver and 2008 Grand-Am Daytona Prototype team champion Scott Pruett has driven in many NASCAR events. Chip Ganassi and Richard Childress own teams in both sports. Press Release
09/04/08 Sports Business Journal reports that the Grand-American Road Racing Association, a sports car racing series founded by Jim France, has been acquired by France's family business, NASCAR. Grand-Am will become a part of NASCAR Holdings, the business entity under which its racing series (Sprint Cup, Nationwide and others) are held. An announcement is expected later today. France founded the series in '99, but it was never officially under the NASCAR flag until now. Grand-Am officials say that the property will benefit from shared resources with NASCAR, including marketing, communications, brand management and research, but it will continue to run as a separate series under President Roger Edmondson.