Daytona Beach, Florida-based NASCAR, the iconic racing sports regulatory and promotion body, has announced that they will be laying off approximately 50 employees. It is believed that layoffs may occur in all NASCAR locations including its Daytona Beach headquarters and offices in Charlotte, North Carolina, Los Angeles, and New York.
In standard corporate-speak, a NASCAR spokesperson said, “"We have a talented team at NASCAR and we’re confident that greater focus on the opportunities to drive fan interest and strong industry partnerships will help our sport achieve long-term growth. As all good businesses do, NASCAR is committed to strengthening its operation to ensure that resources are aligned to strategies that grow the sport and drive our business.”
There is no doubt that the NASCAR business model has been impacted by smaller ticket sales, lack of sponsor interest, and a contracting television audiences. In addition, it appears that the company is attempting to buy several racing venues, possibly to re-imagine their configuration to provide additional year-round destination events.
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