NASCAR/CASCAR Deal Still In The Works
NASCAR Close In CASCAR Purchase
NASCAR is getting closer to taking the checkered flag with its purchase of CASCAR. "I would like to be optimistic about that," CASCAR founder and president Tony Novotny said on the eve of the national Super Series and regional Sportsman Series awards banquet at the Hilton Hotel in London. The Free Press reported in early September, during the annual Labour Day weekend Super Series race at Delaware Speedway, that only the paperwork remained for CASCAR to be sold in its entirety to U.S.-based giant NASCAR.
One source said yesterday there could be an official announcement in two weeks. "It's just guessing, like everyone else is, and that's including myself," said Novotny, who founded the Canadian Association for Stock Car Auto Racing in 1981. "I'm not the guy behind doing the deal and whatever is holding this thing up. They (NASCAR) have an option and that option certainly doesn't play out yet and everybody is optimistic it will happen sooner. "We went into an agreement with NASCAR and they have been working with us with the idea of eventually taking the operation over."
Negotiations began almost two years ago and Richard Buck, NASCAR's director of racing development in Canada, confirmed in September that he recommended his board of directors on Aug. 22 that NASCAR buy CASCAR. "Basically the process is moving along," Buck said during the Super Series race at Delaware. NASCAR's takeover of CASCAR could see a Busch Series or Craftsman Truck race in this country next summer. CASCAR, which has maintained its office in Komoka, is the largest stock car sanctioning body in Canada, although the NASCAR Dodge Weekly Series came into the country two years ago at three tracks, including Delaware.(London Free Press)
This is exactly what I mean when I say Nascar owning or having a piece of everything.
