NASCAR announced that it had submitted an offer to acquire all outstanding shares of International Speedway Corporation (ISC) that are not already owned by NASCAR. Officials intend to combine ISC and NASCAR as one privately run group of companies led by the France family.

“In a highly competitive sports and entertainment landscape, a more unified strategic approach is important to our future growth,” NASCAR Chairman and Chief Executive Officer Jim France said. “We believe the industry requires structural changes to best position the sport for long-term success and this offer represents a positive step forward in that direction.”

NASCAR’s offer will be reviewed by a special committee of independent ISC board members advised by independent legal and financial advisors. In the interim, NASCAR and ISC will continue to operate separately as independent entities.

NASCAR included the following statement with the official release: The outcome of this prospective offer will not impact the France family’s long-term commitment to the sport, nor its interest in maintaining its current ownership in ISC, as the France family is not interested in selling its shares of ISC at this time.

For more information, visit nascar.com or internationalspeedwaycorporation.com.