// MotorSportsNews.Net(work)

DAYTONA BEACH — International Speedway Corp. officials said today they expect to record more losses for the Motorsports Authentics joint venture.

Chief Financial Officer Susan Schandel said the souvenir business is still being audited, but ISC may have to take a charge against profits ranging from $25 million to $50 million, which could cut per-share earnings by 48 to 96 cents a share. However, company officials said they now have a “rock solid plan” to make Motorsports Authentics in Charlotte, N.C., break even by the end of 2008.

Continue reading »

Two-time NASCAR Cup champion Tony Stewart will return to defend his title in the 22nd Dodge Chili Bowl Nationals, scheduled for Jan. 8-12 at the Tulsa Expo Center.

For more, read the full article at SceneDaily.

Hall of Fame Racing officials on Friday announced that the team will partner with Toyota and Toyota Racing Development in the 2008 Sprint Cup Series.

READ MORE…

Speedway Motorsports, Inc. (NYSE:TRK) has agreed to purchase New Hampshire International Speedway from Bob and Gary Bahre for $340 million in cash. The agreement was announced today by O. Bruton Smith, founder, chairman and chief executive officer of Speedway Motorsports, Inc. The acquisition is expected to close in the first quarter of 2008.

Continue reading »

After winning their ninth ARCA RE/MAX Series championship, Frank Kimmel and Tri-State Motorsports have parted ways.

Kimmel, along with his brother and long-time crew chief Bill Kimmel, will compete in the 2008 ARCA RE/MAX Series under the Kimmel Racing banner as co-owners of the new race team. A car number and primary sponsor for the new team have not been determined.

Continue reading »

NASCAR’s decision to use the Car of Tomorrow exclusively next season has rendered an entire fleet of expensive race cars obsolete. After this weekend’s Pep Boys Auto 500 at Atlanta Motor Speedway, the conventional Nextel Cup cars will be run only two more times, at Texas Motor Speedway and in the season finale at Homestead-Miami Speedway.

Industry leaders say that means that 400 top-of-the-line race cars, many of which have spent hours in wind tunnels to fine-tune the bodies, will be sold for a fraction of what they cost to build.

Continue reading »

Zephyrhills’ David Reutimann has agreed to a new contract with Michael Waltrip Racing that will again allow him to compete full time in both the Nextel Cup and Busch Series, although he’ll be in a different Cup car after the first part of the year.

Reutimann confirmed Thursday that he’ll move from the No. 00 Toyota into the UPS-sponsored No. 44 Toyota after the first five races, replacing 1999 Winston Cup champion Dale Jarrett, who is cutting back to a limited schedule. Jarrett, 50, will run the first five races and the Nextel All-Star Challenge.

Continue reading »

Owner came away empty-handed from latest hunting trip

Richard Childress recently spent 10 days in the mountains of Mongolia, stalking the biggest wild sheep in the world. The he returned home to chase another quarry — a fourth car for his Nextel Cup organization.

Both will have to wait. Childress, a renowned hunter who has several of his kills on display in the museum of his Welcome, N.C., shop, never got a shot at the trophy sheep he wanted, and plans to return to Mongolia to try again. He hasn’t quite found the right combination for a fourth car, either, so any expansion will likely be on hold until 2009.

(CLICK HERE to read more …)

Joe Gibbs Racing, winners of three Nextel Cup Series championships and more than 70 NASCAR races, has signed 22-year-old Kyle Busch to drive for the No. 18 team in Nextel Cup beginning in 2008.

(CLICK HERE for more…)

Bill Davis Racing officials announced Tuesday that driver Jeremy Mayfield will not return to the team next year.

(CLICK HERE for more)