Page 1 of 32
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
PENSKE MOTORSPORTS, INC.
.............................................................................
(Name of Issuer)
COMMON STOCK
.............................................................................
(Title of Class of Securities)
709 598 10 6
.............................................................................
(CUSIP Number)
Glenn R. Padgett, P.O. Box 2801, Daytona Beach, FL 32120 (904) 947-6465
.............................................................................
(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)
May 6, 1997
.............................................................................
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box[].
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
Page 2 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
William C. France
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power...................................500
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,799,265 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power .............................500
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,799,265 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,799,765 (2)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ................... 58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
(2) Other than the shares reported in lines (7) and (9) the reporting person
disclaims beneficial ownership of these shares, and this report shall not be
deemed an admission that the reporting person is the beneficial owner of such
securities.
<PAGE>
Page 3 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
James C. France
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.................................1,000
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...........................1,000
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,799,765 (2)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ...................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
(2) Other than the shares reported in lines (7) and (9) the reporting person
disclaims beneficial ownership of these shares, and this report shall not be
deemed an admission that the reporting person is the beneficial owner of such
securities.
<PAGE>
Page 4 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Betty Jane France
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power...................................500
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,799,265 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power .............................500
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,799,265 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,799,765 (2)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
(2) Other than the shares reported in lines (7) and (9) the reporting person
disclaims beneficial ownership of these shares, and this report shall not be
deemed an admission that the reporting person is the beneficial owner of such
securities.
<PAGE>
Page 5 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Sharon M. France
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,799,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,799,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,799,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 6 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Lesa D. Kennedy
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,799,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,799,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,799,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ...................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) Except for 1,000 shares owned jointly with her spouse, the reporting
person disclaims beneficial ownership of these shares, and this report shall
not be deemed an admission that the reporting person is the beneficial owner
of such securities.
<PAGE>
Page 7 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Brian Z. France
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.................................1,900
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...........................1,900
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,800,665 (2)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
(2) Other than the shares reported in lines (7) and (9) the reporting person
disclaims beneficial ownership of these shares, and this report shall not be
deemed an admission that the reporting person is the beneficial owner of such
securities.
<PAGE>
Page 8 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Jamison C. France
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 9 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Jennifer A. France
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 10 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Amy L. France
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 11 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Benjamin Z. Kennedy
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...................................USA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................IN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 12 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
National Association for Stock Car Auto Racing, Inc. (NASCAR)
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...............................FLORIDA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 13 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Automotive Research Bureau, Inc. (ARB)
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...............................FLORIDA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,783,875 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 14 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Western Opportunity Limited Partnership
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................PN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 15 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Sierra Central Corp.
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 16 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Principal Investment Company
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 17 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
White River Investment Limited Partnership
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................PN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 18 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Cen Rock Corp.
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 19 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Secondary Investment Company
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 20 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Polk City Limited Partnership
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................PN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 21 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Boone County Corporation
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 22 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Carl Investment Limited Partnership
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................PN
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 23 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Quaternary Investment Company
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ................................NEVADA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 24 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
International Speedway Corporation
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...............................FLORIDA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power.....................................0
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,798,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ...............................0
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,798,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (1)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
<PAGE>
Page 25 of 32
CUSIP No. 709 598 10 6
______________________________________________________________________________
1) Names of Reporting Persons S. S. or I. R. S. Identification Nos. of Above
Persons
Facility Investments, Inc.
..........................................
______________________________________________________________________________
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
______________________________________________________________________________
3) SEC Use Only_______________________________________________________________
______________________________________________________________________________
4) Source of Funds (See Instructions).........................................
______________________________________________________________________________
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e).......................................................................
______________________________________________________________________________
6) Citizenship or Place of Organization ...............................FLORIDA
______________________________________________________________________________
Number of Shares (7) Sole Voting Power................................14,890
___________________________________________________________
Beneficially Owned (8) Shared Voting Power ......................7,783,765 (1)
___________________________________________________________
by Each Reporting (9) Sole Dispositive Power ..........................14,890
___________________________________________________________
Person With: (10) Shared Dispositive Power ................7,783,765 (1)
______________________________________________________________________________
11)Aggregate Amount Beneficially Owned by Each Reporting Person .7,798,765 (2)
______________________________________________________________________________
12) Check if the Aggregate Amount in Row (11)
Excludes Certain Shares (See Instructions).............................[ ]
______________________________________________________________________________
13) Percent of Class Represented by Amount in Row 11 ....................58.9%
______________________________________________________________________________
14) Type of Reporting Person (See Instructions) ............................CO
______________________________________________________________________________
(1) The reporting person disclaims beneficial ownership of these shares, and
this report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities.
(2) Other than the shares reported in lines (7) and (9) the reporting person
disclaims beneficial ownership of these shares, and this report shall not be
deemed an admission that the reporting person is the beneficial owner of such
securities.
<PAGE>
Page 26 of 32
Item 1. Security and Issuer.
This report concerns the Common Stock of Penske Motorsports,Inc., whose
principal executive offices are located at 3270 W. Big Beaver Road, Suite 130,
Troy, Michigan 48084
Item 2. Identity and Background.
This portion of the Schedule 13D is completed by incorporating the information
contained in Item 1 of the copies of the second part of the cover page which
are incorporated herein by reference.
With respect to 7,783,875 shares (the reporting persons disclaim beneficial
ownership of these shares and this report shall not be deemed an admission
that any of the reporting persons are the beneficial owner of such
securities), voting and dispositive power may be deemed to be shared among:
Penske Corporation, a Delaware corporation; Penske Performance, Inc., a
Delaware corporation; PSH Corp., a Delaware corporation; Roger S. Penske, a
United States citizen; International Speedway Corporation, a Florida
Corporation; Facility Investments, Inc., a Florida Corporation; and the France
Family Group, a group consisting of the living lineal descendants of William
H.G. France, and Anne B. France, some spouses of such descendants and various
entities controlled by such descendants and their spouses, which consists of
the following natural persons and other entities: William C. France, a United
States citizen; Betty Jane France, a United States citizen; James C. France, a
United States citizen; Sharon M. France, a United States citizen; Lesa D.
Kennedy, a United States citizen; Brian Z. France, a United States citizen;
Jamison C. France, a United States citizen; Jennifer A. France, a United
States citizen; Amy L. France, a United States citizen; Benjamin Z. Kennedy, a
United States citizen; Western Opportunity Limited Partnership, a Nevada
limited partnership; Sierra Central Corp., a Nevada corporation; Principal
Investment Company, a Nevada corporation; White River Investment Limited
Partnership, a Nevada limited partnership; Cen Rock Corp., a Nevada
corporation; Secondary Investment Company, a Nevada corporation; Polk City
Limited Partnership, a Nevada limited partnership; Boone County Corporation, a
Nevada corporation; Carl Investment Limited Partnership, a Nevada limited
partnership; Quaternary Investment Company, a Nevada corporation; NASCAR, a
Florida corporation; and Automotive Research Bureau, a Florida corporation.
With respect to 14,890 shares (some of reporting persons disclaim beneficial
ownership of these shares and this report shall not be deemed an admission
that any of such reporting persons are the beneficial owner of such
securities), voting and dispositive power may be deemed to be shared among:
International Speedway Corporation, a Florida Corporation; Facility
Investments, Inc., a Florida Corporation; and the France Family Group.
The relationship among the above persons and entities is as follows: PSH
Corp., a Delaware corporation, is the record holder of 7,783,875 shares of
common stock, par value $.01 per share, of Penske Motorsports, Inc., that are
the subject of this filing. Penske Performance, Inc., a Delaware corporation,
owns directly 80% of the stock of PSH Corp. Facility Investments, Inc., a
Florida corporation, is the holder of 14,890 shares of common stock, par value
$.01 per share, of Penske Motorsports, Inc., that are the subject of this
filing and also owns directly 20% of the stock of PSH Corp. Penske
Corporation, a Delaware corporation, owns directly all of the stock of Penske
Performance, Inc. International Speedway Corporation, a Florida corporation,
owns directly all of the stock of Facility Investments, Inc. Roger S. Penske,
a United States citizen, beneficially owns approximately 57% of the stock of
Penske Corporation. The France Family Group, as described above, owns,
directly and/or beneficially, approximately 54.9% of the total of all classes
of stock of International Speedway Corporation which represents 59.9% of the
votes represented by the total of all classes of stock of International
Speedway Corporation.
Page 27 of 32
Address of Principal Business Office or, if none, Residence:
The address of the principal business office of Western Opportunity Limited
Partnership, Sierra Central Corp., Principal Investment Company, White River
Investment Limited Partnership, Cen Rock Corp., Secondary Investment Company,
Polk City Limited Partnership, Boone County Corporation, Carl Investment
Limited Partnership, and Quaternary Investment Company, is Suite 102, 201 West
Liberty Street, Reno, Nevada 89501.
The address of the principal business office of International Speedway
Corporation, Facility Investments, Inc., and the other members of the France
Family Group not listed in the preceding paragraph is 1801 West International
Speedway Boulevard, Daytona Beach, Florida 32114.
The principal business of International Speedway Corporation is motorsports.
The principal business of Facility Investments, Inc. investing in Penske
Motorsports, Inc. The principal business of the natural person members of the
France Family Group is motorsports. The principal business of the France
Family Group members which are not natural persons (and which are not already
listed above) is motorsports and/or personal investments. The natural person
members of the France Family Group may be employed by one or more or
International Speedway Corporation and the other members of the France Family
Group who are not natural persons.
During the last five years none of the persons filing this statement have been
convicted in a criminal proceeding nor have any of them been subject to a
civil proceeding subjecting them to a judgment, decree or final order of the
type described in Item 2(e) of Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
The funds used to make the acquisition of securities which require the
submission of this report came from working capital of Facility Investments,
Inc.
Item 4. Purpose of Transaction.
The open-market purchase transaction which triggered the requirement to submit
this report was part of ongoing investments by Facility Investments, Inc.
Facility Investments, Inc. may make additional open-market purchases from time
to time. The reporting persons do not have any other plans or proposals
relating to the issuer which relate to or would result in any of the actions
described in Item 4 (b) - (i).
Item 5. Interest in Securities of the Issuer.
This portion of the Schedule 13D is completed by incorporating the information
contained in Items 11, 7, 8, 9, and 10 of the copies of the second part of the
cover page which are incorporated herein by reference. There have been no
trasactions during the past sixty days in the class of securities reported on
by the reporting persons other than the the acquisition through open-market
purchases of 14,890 shares by Facility Investments, Inc. on May 6 -13, 1997.
Item 6. Contracts, Arrangements, Understandings or
Relationships With Respect to Securities of the Issuer.
Although, one of the reporting persons, William C. France and another director
of International Speedway Corporation also serve on the board of directors
of Penske Motorsports, the reporting persons do not control Penske
Motorsports. Pursuant to the Investment and Development Agreement, dated as
of November 22, 1995, as amended, between the International Speedway
Corporation and Penske Corporation, as long as PSH Corp. owns a majority
of the issued and outstanding voting stock of Penske Motorsports, the
International Speedway Corporation is permitted to designate a percentage of
Page 28 of 32
the members of the Board of Directors of each of Penske Motorsports and
certain of its subsidiaries equal to the greater of (i) 20.0% or (ii) the
percentage of stock ownership of ISC in PSH Corp. as adjusted to reflect
changes in such percentage; provided, however, that ISC may designate at least
two such persons to each such Board so long as ISC owns at least 10.0% of the
outstanding Common Stock of PSH Corp., and one person to each such Board so
long as the ISC owns at least 2.0% of the outstanding Common Stock of PSH
Corp. As long as ISC is permitted to have at least two designees to a Board,
at least one designee shall serve on any executive or similar committee that
may be created by the applicable Board. If PSH Corp. no longer owns a
majority of the issued and outstanding voting stock of Penske Motorsports, the
foregoing obligations of Penske Corporation are to be met on a "best efforts"
basis.
Pursuant to the Shareholders Agreement, dated as of November 22, 1995, as
amended, among Penske Performance, Inc., Facility Investments, Inc., and PSH
Corp., if either Penske Performance, Inc. or Facility Investments, Inc.
desires to transfer any shares of capital stock of PSH Corp. to an unrelated
third party, it first must offer such shares to the other shareholder on the
same terms and conditions as the proposed transfer. Pursuant to the
Shareholders Agreement, also dated as of November 22, 1995, as amended, among
PSH Corp., Kaiser Resources, Inc. and Penske Motorsports, Inc., if Kaiser
desires to transfer any of the shares of PMI it owns for consideration to an
unrelated party, Kaiser must offer such shares on the same terms and
conditions as the proposed transfer, first to ISC and if ISC elects not to
purchase such shares, then to PSH Corp.
Item 7. Material to be Filed as Exhibits.
There are no materials required to be filed as exhibits.
<PAGE>
Page 29 of 32
Signatures.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date May 16, 1997
/s/ William C. France /s/ James C. France
___________________________________ ___________________________________
Signature Signature
William C. France, Individually, and James C. France, Individually, and
on behalf of the following entities on behalf of the following entities
in the capacity indicated: in the capacity indicated:
NASCAR, as its President; As Attorney in fact for Jennifer C.
Western Opportunity Limited France, Amy L. France, and Jamison
Partnership, as President of C. France;
a general partner, Sierra Central Principal Investment Company, as
Corp.; its President;
Sierra Central Corp., as its Secondary Investment Company, as
President; its President;
Automotive Research Bureau, Carl Investment Limited Partnership
as its President; as President of its general partner
White River Investment Limited Quaternary Investment Company;
Partnership, as President of a Quaternary Investment Company, as
general partner, Cen Rock Corp.; its President;
Cen Rock Corp., as its President; International Speedway Corporation,
Polk City Limited Partnership, as as its President; and
President of its general partner; Facility Investments, Inc. as
Boone County Corporation; and its President.
Boone County Corporation, as its ___________________________________
President. Name/Title
___________________________________
Name/Title
/s/ Betty Jane France /s/ Sharon M. France
___________________________________ ___________________________________
Signature Signature
Betty Jane France, Individually Sharon M. France, Individually
___________________________________ ___________________________________
Name/Title Name/Title
/s/ Lesa D. Kennedy /s/ Brian Z. France
___________________________________ ___________________________________
Signature Signature
Lesa D. Kennedy, individually and Brian Z. France, Individually
as Custodian for minor child,
Benjamin Z. Kennedy
___________________________________ ___________________________________
Name/Title Name/Title
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative other than an
executive officer or general partner of the filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed
with the statement, provided, however, that a power of attorney for this
purpose which is already on file with the Commission may be incorporated by
reference. The name and any title of each person who signs the statement shall
be typed or printed beneath his signature.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U. S. C. 1001).
