FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 8, 2000
INTERNATIONAL SPEEDWAY CORPORATION
(Exact name of registrant as specified in its charter)
FLORIDA O-2384 59-0709342
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1801 WEST INTERNATIONAL SPEEDWAY BOULEVARD, DAYTONA BEACH, FLORIDA 32114
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (904) 254-2700
No Change
(Former name or address, if changed since last report)
Item 5. Other Events.
The Company today issued a press release which announced that its Kansas
Speedway Corporation (KSC) subsidiary had been awarded three major motorsports
event dates, including a NASCAR Winston Cup Series event, for the new
facility's inaugural racing season in 2001. In addition, KSC will host a
NASCAR Busch Series, Grand National Division event, and an Indy Racing
Northern Light Series event.
In a separate press release, Chicagoland Speedway in Joliet announced
the addition of the Indy Racing Northern Light Series, the NASCAR Winston Cup
Series and the NASCAR Busch Series, Grand National Division, to its inaugural
season of racing in 2001. The Chicagoland Speedway is owned by Raceway
Associates, LLC, which is made up of the combined interests of the
Indianapolis Motor Speedway Corporation, the International Speedway
Corporation and the founding owners of Route 66 Raceway, LLC. The track is
located adjacent to the existing Route 66 Raceway, which opened in 1998 and
will be part of the motorsports park.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit
Number Description of Exhibit Filing Status
1. (99.1) Press Release (Kansas) filed herewith
2. (99.2) Press Release (Chicago) filed herewith
<PAGE>
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
INTERNATIONAL SPEEDWAY CORPORATION
(Registrant)
Date: 5/8/2000 /s/ Susan G. Schandel
_____________ __________________________________
Susan G. Schandel, Vice President
& Chief Financial Officer
FOR: International Speedway Corporation
APPROVED BY: Wes Harris
Director of Investor Relations
(904) 947-6465
CONTACT: Betsy Brod/Keith Curtis
Media: Michael McMullan/Jennifer Kirksey
Morgen-Walke Associates, Inc.
FOR IMMEDIATE RELEASE (212) 850-5600
KANSAS SPEEDWAY CORP. SECURES THREE MAJOR RACE DATES FOR INAUGURAL SEASON
DAYTONA BEACH, FLORIDA May 8, 2000 International Speedway Corporation
("ISC") (Nasdaq/NM: ISCA; OTC Bulletin Board: ISCB), a leading promoter of
motorsports entertainment, announced today that Kansas Speedway Corporation
("KSC") has been awarded three major motorsports event dates, including a
NASCAR Winston Cup Series event, for the new facility's inaugural racing
season in 2001. In addition, KSC will host a NASCAR Busch Series, Grand
National Division event, and an Indy Racing Northern Light Series event.
NASCAR officials announced that KSC will host a NASCAR Busch Series race
on Saturday, September 29, 2001, followed by a NASCAR Winston Cup Series race
on Sunday, September 30th. In addition, Indy Racing League officials
announced that KSC will host an Indy Racing Northern Light Series event on
Sunday, July 8, 2001.
Grant Lynch, President of KSC, and Vice President of ISC, commented, "As
construction on this premier facility continues on schedule for completion
next Spring, we are pleased to announce major event dates in this promising
new market. The sanctioning of major races by NASCAR and the Indy Racing
League justifies our efforts in Kansas City as the market offers tremendous
growth opportunities for both the sport and ISC."
International Speedway Corporation is a leading promoter of motorsports
activities in the United States, currently promoting more than 100 events
annually. The Company owns and/or operates 11 major motorsports facilities,
including Daytona International Speedway in Florida (home of the Daytona 500);
Talladega Superspeedway in Alabama; Michigan Speedway located outside Detroit,
Michigan; California Speedway near Los Angeles, California; Homestead-Miami
Speedway in Florida; Phoenix International Raceway in Arizona; Richmond
International Raceway in Virginia; Darlington Raceway in South Carolina; North
Carolina Speedway in Rockingham, North Carolina; Watkins Glen International in
New York, and Nazareth Speedway in Pennsylvania. In addition, the Company is
developing a superspeedway in Kansas City, Kansas. Other track interests
include the operation of Tucson (Arizona) Raceway Park and an indirect 37.5%
interest in Raceway Associates, LLC, which owns the Route 66 Raceway and is
developing a superspeedway in the Chicago area. The Company also owns and
operates MRN Radio, the nation's largest independent sports radio network;
DAYTONA USA, the "Ultimate Motorsports Attraction" in Daytona Beach, Florida,
the official attraction of NASCAR; Americrown Service Corporation, a provider
of catering services, food and beverage concessions, and merchandise sales,
and Motorsports International, a producer and marketer of motorsports-related
merchandise. For more information, visit the Company's Web site at
www.iscmotorsports.com.
Statements made in this release that state the Company's or management's
beliefs or expectations and which are not historical facts or which apply
prospectively are forward-looking statements. It is important to note
that the Company's actual results could differ materially from those contained
in or implied by such forward looking statements. Additional information
concerning factors that could cause actual results to differ materially
from those in the forward looking statements is contained from time to time in
the Company's SEC filings including but not limited to the 10-K and subsequent
10-Q's. Copies of those filings are available from the Company and the
SEC.
# # #
Monday May 8, 10:52 am Eastern Time
Company Press Release
NASCAR and Indy Racing League Speed Toward Chicago
Chicagoland Speedway in Joliet Announces Race Schedule, Initial Ticket Program
JOLIET, Ill.--(BUSINESS WIRE)--May 8, 2000--The Chicago-area sports scene
revved its engines on Monday with the announcement that the country's most
popular spectator sport is coming to nation's third largest city.
At a Monday morning press conference at Chicago's Navy Pier, Tony George,
president and chief executive officer of the Indianapolis Motor Speedway
Corporation and founder of the Indy Racing League, and Mike Helton, NASCAR
senior vice president and chief operating officer, announced the addition of
the Indy Racing Northern Light Series, the NASCAR Winston Cup Series and the
NASCAR Busch Series, Grand National Division, to the Chicago sports lineup.
The three popular series will race at the newly named Chicagoland Speedway, a
1.5 mile tri-oval now under construction in Joliet. The racetrack is owned by
Raceway Associates, LLC, which is made up of the combined interests of the
Indianapolis Motor Speedway Corporation (IMS), International Speedway
Corporation (Nasdaq/NM: ISCA - news; OTC Bulletin Board: ISCB - news) and the
founding owners of Route 66 Raceway, LLC. When completed in Spring
2001, the 75,000-seat Chicagoland Speedway will be one of the nation's top
motorsports complexes.
The NASCAR Busch Series and NASCAR Winston Cup Series will share the inaugural
event weekend at the Chicagoland Speedway on July 14 and 15, 2001.
The Indy Racing Northern Light Series will make its Chicago debut on September
2, 2001.
``NASCAR has enjoyed phenomenal growth in recent years due to the overwhelming
support of our long-time fans and the interest of newer fans,'' said Helton.
``We are continuing this growth by bringing the excitement of NASCAR to new
markets like Chicago to satisfy the appetite of these fans.''
Some of auto racing's most popular drivers were on hand for the event and
offered praise for the facility and the opportunity to race in Chicago.
``The opportunity to bring big-time racing to a big city is going to be great
for the sport and our drivers,'' said NASCAR Winston Cup driver Tony Stewart.
``Many of the fans here grew up on open wheel racing and the Indianapolis 500,
and we now get to introduce them to the bumping and grinding world of stock
car racing.''
Eddie Cheever, 1998 Indianapolis 500 winner, seconded Stewart's sentiment.
``It's going to be a great track in a great city. Chicago has the most
dedicated, vocal sports fans, and I can't wait to see them turn out by the
thousands to cheer on their favorite drivers - hopefully me. And as a team
owner in the Indy Racing Northern Light Series, I'm proud to see our series
expand our schedule into another major market.''
For the Chicagoland Speedway, it was one more important step in a long
development process.
``We're thrilled to bring the Indy Racing Northern Light Series, the NASCAR
Busch Series and the NASCAR Winston Cup Series to the Chicago area,'' said
Joie
Chitwood, general manager of the Chicagoland Speedway. ``Our partners
identified Chicago as a target market several years ago, and we've been
working toward this day ever since. We began construction with the hopes of
getting a great lineup of events, but there are no guarantees in this
business. We hoped that if we built a great facility and assembled a solid
leadership team, our chances would be good.''
Great Racing....Great Track
The Chicagoland Speedway is scheduled to open in Spring 2001 and host two race
event weekends initially featuring three top racing series.
Tony George, with drivers Cheever and Scott Sharp, announced that Chicagoland
Speedway has been awarded an Indy Racing Northern Light Series event. Made
famous by legendary drivers such as A.J. Foyt, Al Unser and Johnny Rutherford,
the series now features top drivers Al Unser Jr., Cheever, Sharp, Scott
Goodyear, Buddy Lazier and Greg Ray. The Indianapolis 500, the signature race
for the Indy Racing Northern Light Series, is the largest single-day sporting
event in the world.
``This region has a great tradition of open wheel racing dating back to
Meadowdale International and Raceway Park, and we are proud to link the
heritage of the Indianapolis Motor Speedway and the Indianapolis 500 with the
racing tradition of Illinois,'' said George. ``Chicago will be the largest
market where the Indy Racing Series competes, and I expect it will be a great
event for our drivers, our fans and our sponsors.''
With a new five-year, multi-million dollar series sponsor fueling its future,
the Indy Racing Northern Light Series is bringing Indy Racing and its exciting
appeal to new fans and corporate partners. New young stars, new team sponsors,
a new engine and chassis program, and a new five-year television contract with
ABC and ESPN are among the many factors spurring the growth of America's
premiere open-wheel, oval-track racing.
The Indy Racing Northern Light Series has seen double-digit revenue growth
each year since 1996, and is well on its way to continuing that in 2000.
Sponsor support has grown 43 percent and the number of teams competing in the
series has increased to 30 in 2000 from 16 in its inaugural season. By 2005,
the Indy Racing Northern Light Series forecasts it will have as many as 18
events on the annual circuit. The Indy Racing Northern Light Series features
open-wheel, open-cockpit racecars with normally aspirated V-8 engines that
race at more than 220 miles per hour.
Helton, along with NASCAR Busch Series drivers Andy Santerre and Matt Kenseth,
announced that the popular series would run as part of a combined NASCAR
Winston Cup/Busch Series weekend with the junior circuit running on July 14,
2001. The NASCAR Busch Series features 32 races on 26 tracks in 20 states and
is considered the second most popular race series in the United States. Stars
of the series include Adam Petty, Randy LaJoie, Hornaday and Jeff Green. This
fastest growing division of NASCAR features modified stock cars with 358
cubic-inch V-8 engines equipped with a four-barrel carburetor and race at more
than 195 miles-per-hour. Last year, some 2.3 million fans attended Busch
Series races.
``Chicago is our kind of town,'' said Helton. ``We are proud to bring our
sport to such an enthusiastic sports market like Chicago. This market has
shown tremendous support of our sport with thousands of area fans traveling to
NASCAR events across the country, strong television ratings and the many
corporations that proudly use our sport to promote their brands.''
Helton was joined by NASCAR Winston Cup Series drivers Kyle Petty, Jeff
Burton, Tony Stewart and Kenny Wallace to announce the long-anticipated NASCAR
Winston Cup event. NASCAR Winston Cup is the fastest-growing spectator sport
and offers some of the most competitive racing in the world.
The NASCAR Winston Cup race date has been scheduled for July 15, 2001, and is
expected to draw tens of thousands of fans to the region.
The NASCAR Winston Cup Series is the number one spectator sport in the
country. The series' major races attract larger crowds than the Super Bowl,
World Series and the NBA Finals combined. Forty-three drivers race in Ford
Taurus, Chevrolet Monte Carlo and Pontiac Grand Prix stock cars, with the
Dodge Intrepid R/T joining the competition in 2001. The cars, which have more
than 700 horsepower engines, run at speeds of more than 200 miles-per-hour.
Last year, NASCAR Winston Cup events attracted more than 6.3 million fans and
its television ratings ranked second only to the National Football League.
New Name Symbolizes Entire Region
The soon-to-be-famous racetrack in Joliet was officially named today, as well.
As the Chicagoland Speedway in Joliet, Illinois, the track name reflects the
broad appeal of motorsports events it will host while paying respects to the
community it calls home.
``We wanted a name that communicated the excitement of having major league
auto racing in Chicago and provided visibility for our hometown,'' said
Chitwood. ``The people of Joliet and Will County have welcomed us to their
community, and we want to make sure every race fan - whether in the stands or
watching on television - knows we are racing in Joliet.''
The Chicago region has a population of more than eight million, and Will
County, where the track is located, is the fastest growing county in the state
of Illinois. More than 230 racing facilities and raceways dot the state,
offering one of the strongest networks of race fans in the country.
The Chicago market has seen its average Nielsen television ratings for NASCAR
Winston Cup Series events on broadcast television grow from 4.6 in 1996 to an
average of 6.4 in 2000. The market also features more than 20 companies that
have an affiliation with NASCAR racing, including popular brand names like
McDonald's, Gatorade and Sears/Craftsman.
The Best Seats Are Going Fast
Chicagoland Speedway launched its season ticket sales program in conjunction
with the racing event announcements, unveiling a Founders Preferred Access
Speedway Seating (P.A.S.S.) program that gives fans an opportunity to purchase
the best seat in the house.
The Chicagoland Speedway Founders Preferred Access Speedway Seating (P.A.S.S.)
program provides the purchaser the exclusive right to purchase season
tickets in the same great premiere seat(s) in the 75,000-seat grandstand for a
period of up to 30 years. Founders P.A.S.S. rights provide access to the best
available seating at the Chicagoland Speedway. Founders P.A.S.S. seats are
located above the cross-aisle and feature a variety of benefits not available
to the general public, including individual stadium-style chair seats.
``There is such incredible demand among racing fans for this premium
seating,'' said Chitwood. ``At some tracks, tickets are handed down generation
to generation to ensure the family members always have a seat. We're making it
easier for the race fan to guarantee they can get season tickets when the
NASCAR Busch Series, Indy Racing Northern Light Series and NASCAR Winston Cup
Series come to town.''
Season tickets at Chicagoland Speedway include all of the featured events.
Only Founders P.A.S.S. holders can purchase season tickets during the initial
offering this May. While exact season ticket prices will be established once a
final schedule is confirmed, the season tickets will cost between $300 and
$400. General season tickets are expected to go on sale in the Fall.
The Founders P.A.S.S. goes on sale May 9 and 10 to current season ticket and
suite holders at Route 66 Raceway, then will be offered to Will County
residents only at the Route 66 Raceway box office May 11 through 16, before
going on sale to the general public on May 17.
The Founders P.A.S.S. can be purchased by phone at (815)727-RACE, at the Route
66 Raceway box office, or by mailing in the Founders P.A.S.S. order form.
All orders must be accompanied by check, money order or VISA/Mastercard. Fans
who purchase a Founders P.A.S.S. will be notified that their application was
confirmed and receive a Founders P.A.S.S. agreement within 21 days of
application processing. Seating will be assigned on a first-come, first-served
basis. Applications will be prioritized by section according to the date and
time received. Final seat assignments will be made following the completion of
the grandstands and the installation of the seats.
The Chicagoland Speedway is owned by Raceway Associates, LLC, which is made up
of the combined interests of the Indianapolis Motor Speedway Corporation
(IMS), the International Speedway Corporation (ISC) and the founding owners of
Route 66 Raceway, LLC. The track is located adjacent to the existing Route 66
Raceway, which opened in 1998 and will be part of the motorsports park. Route
66 includes a state-of-the-art drag strip, 3/8-mile clay oval and road-course
test track, with stadium seating for 30,000 fans. It hosts the National Hot
Rod Association (NHRA) Prestone Route 66 Nationals, which features Top Fuel,
Funny Cars, Pro Stocks, trucks and motorcycle racing.
Contact:
Chicagoland Speedway
Joie Chitwood, 815/722-5500
www.chicagolandspeedway.com
or
Golin/Harris International
Debby Robinson, 312/729-4297
