International Speedway Corporation Buys Phoenix International Raceway
15 July 1997
PHOENIX, AZ (July 14, 1997) -- In an effort to further strengthen its vast motorsports holdings, International Speedway Corporation (ISC) has purchased Phoenix International Speedway. Phoenix International Raceway, that plays host to NASCAR, IRL, USAC, SCCA and AMA events was sold to ISC by Emmett "Buddy" Job. Job will stay on with the title of President and will oversee the day-to-day operations of the growing facility. "This is a significant day in the history of International Speedway Corporation," said Bill France - Chairman and CEO of ISC. The aquisition gives the Company another presence in one of America's fastest growing and exciting markets. Major ISC facilities are now positioned in three of the four corners of the Unites States. "We look forward to working closely with Buddy and his staff to further develop that traditions and goals that they have established here in Phoenix." Phoenix International Raceway (PIR) is currently a 65,000 seat facility that is located at the base of the Estrilla Mountains. The one mile asphalt track features a unique "D" shape that has an 1,179 foot frontstretch and a 1,551 foot backstretch with almost flat corners - measuring in at 11 degrees through turns one and two and 9 degrees in three and four. Capacity will be in excess of 90,000 with the addition of 25,000 seats that are currently planned for the facility. This would make Phoenix International Raceway the largest sporting complex in all of Arizona. A state funded road improvement project will ease the current traffic conditions and help with further development of the facility. Buddy Job said of the aquisition, "My goals and expectations for Phoenix International Raceway have been and continue to be, quite lofty. With ISC's vast experience and resources, we will be fully capable of achieving these goals. ISC has a long history of being involved in communities where it owns facilities and I'm confidant that tradition will allow PIR to realize its fullest potential." ISC adds PIR to its list of properties which include Daytona International Speedway (Daytona Beach, FL), Talladega Superspeedway (Talladega AL), Watkins Glen International (Watkins Glen, NY), Darlington International Raceway (Darlington, SC) and Tucson Raceway Park (Tucson, AZ). ISC also owns an 11 percent interest in Penske Motorsports Inc(PMI). PMI controls Michigan Speedway (Brooklyn MI), Nazareth Speedway (Nazareth, PA), and the new California Speedway located in Fontana CA. Penske also boasts controlling interest in North Carolina Motor Speedway in Rockingham NC. Possible ISC future plans have it developing tracks in the Kansas City, MO area and in Sacramento, CA. ISC is currently in a partnership with the Indianapolis Motor Speedway Corporation to build a new facility in the greater Chicago area.