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00:00:00
>> NASCAR could be on track to a new future. Reuters exclusively reporting that the company that owns several American car racing series and other motor sport events may get a new owner as the majority owners of NASCAR are exploring a possible sale. Reuters Correspondent Liana Baker.>> I think that they are looking to explore their options right now, because there's been a lot of declines around NASCAR.
00:00:24
TV ratings are down. There's a lot of competition for eyeballs from other sporting leagues and even just TV. So now is kind of the time to see if there's a partner out there that could help turn around NASCAR, which has an aging demographic and doesn't have these big stars like they had 20 years ago.
00:00:44
>> The iconic company was founded by Bill France, Sr. in Daytona Beach, Florida in 1948 and drivers in its races such as Dale Earnhardt, Sr. became household names and major companies rushed to have their brands affiliated with NASCAR. But sources tell Routers, the France family is working with investment bank, Goldman Sachs to identify a potential deal for the company, although it's still at an exploratory stage.
00:01:09
So if NASCAR is up for grabs, who's likely to be in the race?>> NASCAR has big TV contracts with media companies NBC and FOX. So I think they could be interested, but really any big media company that wants to own content will take a look. It's pretty rare for a big live sports TV property to hit the market, so it should generate a lot of interest from different parties.
00:01:30
Liberty Media, for example, bought Formula One last year for about $8 billion including depth.>> With attendance at the tracks falling, NASCAR has been looking at ways to refresh including dabbling in so-called eSports in a bid to reach younger audiences.