ISC lawsuit could bankrupt Kentucky Speedway

The cost of defending the anti-trust and restraint of trade suit filed last month by Kentucky Speedway against privately held NASCAR and publicly held International Speedway Corp. over the granting of Nextel Cup race dates apparently looms large. As a result, ISC, for the first time in memory, issued a Form 8-K. This form, required when a material event occurs, alerts shareholders to — among other things — bad news that could adversely affect its bottom line. Despite this forewarning, ISC stock has risen since the filing of the lawsuit. The Kentucky track is asking $400 million for never having been granted a Nextel Cup date. Many feel ISC will prevail in this litigation, however at steep cost. Indications are the law firm chosen by Kentucky is noted for winning big awards. ………The biggest box-office events at the young Kentucky oval are its annual Craftsman Truck and Busch Grand National Series races, both NASCAR sanctioned. Will these be taken away now over the suit’s filing (resulting in the Speedway going belly up)? Chris Economaki/NSSN

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