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Speedway Motorsports Part of New NASCAR Television Alliance

24 February 1999

Speedway Motorsports Part of New NASCAR Television Alliance

    CONCORD, N.C., Feb. 24 -- Speedway Motorsports
officials believe today's television packaging announcement by NASCAR will
have positive effects on future company revenues and the sport in general.
    NASCAR officials announced that future television broadcast rights would
be packaged as part of a new alliance with speedway operators.  In the past,
event rights fees were negotiated individually by officials at each venue.
According to many in the sport, the current rights fees are undervalued in
comparison with other sports including the NFL and NBA.
    Speedway Motorsports Chairman and Chief Executive Officer O. Bruton Smith
and President and Chief Operating Officer H.A. "Humpy" Wheeler have worked
closely with NASCAR officials in this unified effort.
    Though financial details are not yet disclosed, Wheeler said current
premium events on the NASCAR Winston Cup schedule should see rights fees
double in value.  In some cases, Wheeler feels the value of broadcast rights
could increase five-fold.  The new process will begin in the year 2000 as
current contracts expire.
    "This is a very significant step in moving the sport of NASCAR to the next
level," said Wheeler.  "This agreement will allow us to dramatically increase
broadcast revenues and create some unique broadcast opportunities for our
sport on the internet, on digital TV and through international exposure.  We
are pleased that Speedway Motorsports is working as a valued partner with
NASCAR on this project.
    "This certainly creates better leverage for the speedway operators and
offers significant benefits for network broadcast partners," said Wheeler.  "I
see the potential to package a NASCAR race with an NFL game on the same
network as a great sports Sunday doubleheader.  Creative programming and
packaging will increase ratings for the networks and help extend the fan base
of NASCAR to new areas.