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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ______1_____)
PENSKE MOTORSPORTS, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
709 598 10 6
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*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 in 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).
1
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON
PENSKE CORPORATION
FEIN: 23-1717338
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE CORPORATION
NUMBER OF SHARES 5 SOLE VOTING POWER
BENEFICIALLY OWNED BY 6 SHARED VOTING POWER
7,801,875(1)
EACH REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 8 SHARED DISPOSITIVE
POWER
7,801,875(1)
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,801,875
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
SEE FOOTNOTE (1)
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
54.9%
12 TYPE OF REPORTING PERSON*
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
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CUSIP NO. 709 598 10 6
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13D-1(C)
________________________________________
ITEM 1:
A) NAME OF ISSUER:
Penske Motorsports, Inc.
B) ADDRESS OF ISSUER'S PRINCIPAL OFFICE:
13400 West Outer Drive
Detroit, MI 48239
ITEM 2:
A) NAME OF PERSON FILING:
The name of the person filing this statement is Penske
Corporation, a Delaware corporation.
With respect to 7,801,875 shares, Penske Corporation may be
deemed to share voting and dispositive power with Penske
Performance, Inc., a Delaware corporation, PSH Corp., a
Delaware corporation, and Roger S. Penske, a United States
citizen, Facility Investments, Inc. a Florida corporation,
International Speedway Corporation, a Florida corporation and
the "France Family Group" (described below) which have each
filed a Schedule 13D. The relationship between Penske
Corporation and such persons is described below:
PSH Corp., a Delaware corporation, is a partially owned
subsidiary of Penske Performance Inc., and is the
record holder of 7,801,875 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 80.0% of the stock of PSH Corp. and Facility
Investments Inc. own 20.0% of the stock of PSH Corp.
Penske Corporation, a Delaware corporation, owns
directly all of the stock of Penske Performance, Inc.
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CUSIP NO. 709 598 10 6
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13D-1(C)
________________________________________
Roger S. Penske, a United States citizen, beneficially
owns approximately 57% of the stock of Penske
Corporation.
International Speedway Corporation, a Florida
corporation, owns directly all of the stock of Facility
Investments, Inc.
The France Family Group owns approximately 55.0% of the
total of all classes of stock of International Speedway
Corporation, which represents 61.9% of the votes
represented by the total of all classes of stock of
International Speedway Corporation. The France Family
Group, consists 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.
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CUSIP NO. 709 598 10 6
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13D-1(C)
________________________________________
B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
The address of the principal office of Penske Corporation and
Roger S. Penske is:
13400 West Outer Drive
Detroit, MI 48239-4001
The address of the principal office of Penske Performance
Inc. and PSH Corp. is:
1100 Market Street, Suite 780
Wilmington, DE 19801
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:
201 West Liberty Street,
Suite 102
Reno, NV 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, FL 32114
5
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CUSIP NO. 709 598 10 6
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13D-1(C)
________________________________________
C) CITIZENSHIP:
This portion of the Schedule 13G is completed by incorporating
the information contained in Item 4 of the copies of the second
part of the cover page which are incorporated herein by
reference.
D) TITLE OF CLASS OF SECURITIES:
Common Stock
E) CUSIP NUMBER:
709 598 10 6
ITEM 3:
Not Applicable.
ITEM 4: OWNERSHIP
A) AMOUNT BENEFICIALLY OWNED:
7,801,875
B) PERCENT OF CLASS:
54.9%
C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(I) SOLE POWER TO VOTE OR TO DIRECT THE VOTE:
-0-
(II) SHARED POWER TO VOTE OR TO DIRECT THE VOTE:
7,801,875
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CUSIP NO. 709 598 10 6
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13D-1(C)
________________________________________
(III) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION
OF:
-0-
(IV) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF:
7,801,875
ITEM 5: OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Not Applicable.
ITEM 6: OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
See response to Item No. 2 for persons who may be deemed to have the right to
receive or the power to direct, the receipt of dividends from or the proceeds
from the sale of 7,801,875 shares of such securities (and such interest relates
to more than five percent of such class).
ITEM 7: IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
Not applicable.
ITEM 8: IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP:
Not Applicable.
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CUSIP NO. 709 598 10 6
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13D-1(C)
________________________________________
ITEM 9: NOTICE OF DISSOLUTION OF GROUP:
Not Applicable.
ITEM 10: CERTIFICATION:
Not Applicable.
SIGNATURE
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.
PENSKE CORPORATION
BY: /s/ Roger S. Penske
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ITS: Chairman of the Board
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2/11/98
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DATE
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