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 Post subject: ISC doesn't expect ruling
PostPosted: Thu Jul 10, 2008 8:49 am 

Joined: Tue Jun 17, 2008 6:17 am
Posts: 207
Location: Missouri
ISC doesn't expect ruling in Kentucky Speedway case until next year

A ruling on Kentucky Speedway’s appeal in its federal antitrust lawsuit against NASCAR and International Speedway Corp. is not expected until sometime in 2009, according to an ISC official.

Speaking on a conference call Wednesday with financial analysts, ISC Chief Operating Officer John Saunders said, “Due to some changes in court procedures, we now expect some sort of ruling from early- to mid-’09.”

Kentucky Speedway alleged that NASCAR, a sanctioning body owned by the France family, and ISC, a track-operating company that is publicly traded and whose majority of voting stock is owned by the France family, conspire to keep independent tracks such as Kentucky Speedway from getting Sprint Cup dates.

NASCAR and ISC denied those claims, and in January, a U.S. District Court judge concluded that there was not enough evidence for the case to go to trial. The appeal centers on whether there is enough evidence for a trial to be held.

The final briefs on the appeal are due Oct. 27.

ISC expects to spend between $1 million and $2 million this year on the litigation, ISC investor relations spokesman Wes Harris said.

ISC rival Speedway Motorsports Inc. has agreed to purchase Kentucky Speedway, and SMI Chairman Bruton Smith has said the lawsuit likely needs to be settled or adjudicated before he can obtain a Sprint Cup date for the track.

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