NASCAR execs met with "about" 80% of track owners in
the past month to discuss taking over control of the Winston
Cup TV package, according to Rick Westhead of BLOOMBERG
NEWS. NASCAR VP/TV Bray Cary said that an "agreement on a
consolidated" TV deal "could be reached as soon as this
month, although it probably wouldn't take effect before 2001
when many of the current contracts expire." The contracts
negotiated by the tracks "will generate about" $100M this
year for the circuit's 34 races. But analysts said "there's
no reason" why NASCAR can't get more than $300M a year,
"especially if the broadcasts were on one or two networks."
If broadcast rights are concentrated, "one of the likely
candidates" would be Disney's ABC and ESPN, who have 18
races between them. NASCAR is "still debating how to split"
TV revenue if it takes over the TV package. Currently,
tracks receive 65%, drivers get 25% and NASCAR keeps the
rest. The sanctioning body has hired Arthur Andersen to
help develop a revenue-sharing plan (BLOOMBERG NEWS, 2/18).
