Is NASCAR For Sale? Speculation and Implications

In the high-octane world of stock car racing, where fortunes are made and lost at 200 mph, a bombshell rumor is revving up the engines of speculation: the France family, the iron-fisted stewards of NASCAR since its dusty beginnings in 1948, might finally be eyeing the exit ramp.

–by Mark Cipolloni–

Valued at a staggering $5 billion by Goldman Sachs back in 2023, the empire that Bill France Sr. built from beachside bootlegger races could be up for grabs—just weeks after a bruising legal defeat and settlement that exposed cracks in the family’s once-unassailable control.

The spark? A landmark antitrust lawsuit filed by Michael Jordan’s 23XI Racing and Front Row Motorsports, which accused NASCAR of monopolistic practices and unfair charter agreements. The case, settled in December 2025 for undisclosed terms, didn’t just cost the France family millions—it peeled back the curtain on internal frustrations, with leaked texts revealing NASCAR execs like Steve Phelps dismissing team demands as “insanity” and threatening to revoke charters. Adding fuel to the fire, Phelps announced his resignation as commissioner on January 6, 2026, leaving the sport’s leadership in limbo and fans howling for change.

Insiders whisper that the fallout has pushed the Frances—led by 81-year-old Jim France and his niece Lesa France Kennedy—to consider outside investors or even a full sale. Puck News reported on January 9 that media giants and private equity sharks are circling, with names like Liberty Media (owners of Formula 1), TKO (UFC and WWE), Ares, Arctos, and Sixth Street in the mix. This isn’t the first pit stop for sale rumors; back in 2018, the family flirted with Goldman Sachs on a potential deal but backed off. Now, with team valuations skyrocketing and revenues from a new $7.7 billion media deal on the horizon, the timing feels ripe—or desperate, depending on who you ask.

Picture this: It’s a crisp January morning in Daytona, the spiritual heart of NASCAR, where the ghosts of legends like Dale Earnhardt still echo in the grandstands. Jim France, the reclusive patriarch who’s rarely seen without his signature sunglasses, huddles with advisors in a sleek boardroom overlooking the tri-oval. The lawsuit’s sting lingers—teams like 23XI demanded equity stakes, and while the settlement included evergreen charters and revenue tweaks, it didn’t heal the divide. “The France family’s commitment to keeping NASCAR private is being tested after these turbulent months,” noted Sports Business Journal, highlighting fan backlash, declining attendance, and a sense that the sport’s golden era is fading.

On social media, the rumor mill is overheating. Fans and insiders alike are buzzing: “Merry Christmas to everyone who wanted the France family to sell,” quipped a Reddit thread, while X users like @DavidfromMd2 demanded, “When does the France Family announce the sale of NASCAR?” Even team owners are intrigued; Race Team Alliance’s Jonathan Marshall hinted during the lawsuit that squads might bid for equity, turning NASCAR into a more collaborative beast. But not everyone’s cheering—some fear a corporate takeover could dilute the sport’s gritty, American roots, with one X poster warning, “Screw Red Bull, at least these owners are American.”

Dig deeper, and the plot thickens. NASCAR’s CFO testified in court about $400 million in distributions to the France family from 2021-2024, mostly for taxes under their S-Corp setup. Critics call it “wetting their beak” like a mafia cut, with one fan labeling it “pure mafia right there.” And Jim France’s own salary? A cool $3.5 million annually, per his testimony. With charters now fetching nine figures and international expansion lagging, could private equity inject the cash needed for a global push—or just strip-mine the sport for profits?

Yardbarker speculates the Frances might seek “strategic partners” like real estate firms to develop tracks, avoiding a full handover. But The Express reports Jim France is pondering a historic move post-settlement, potentially selling stakes to ease the pressure. Phelps himself floated equity sales in February 2025, signaling the family might bend for the first time.

As the 2026 season looms, with the Clash at the Coliseum just weeks away, the question hangs like exhaust smoke: Will the France dynasty hold the wheel, or hand over the keys to a new era? One thing’s certain—in NASCAR, rumors travel faster than the cars. Stay tuned; this story’s got more laps to run.