April 26th, 2002, 11:58 AM
Suit alleges NASCAR monopoly
ESPN.com news services
High profile attorney Johnnie Cochran is taking on NASCAR, claiming the sanctioning body has a monopoly over stock car racing.
The Orlando Sentinel reports that a federal lawsuit was filed in U.S. District Court in Sherman, Texas, on Feb. 13 on behalf of the shareholders of Speedway Motorsports Inc., the parent company of Texas Motor Speedway. The suit claims that NASCAR is a monopoly entity by owning both the governing body and by having controlling interest in International Speedway Corp., the company that operates 13 major auto tracks.
That (breaking up NASCAR/ISC) is the logical end result, and we have the legal counsel to do it," Cochran told the paper. "In addition, we have the resolve."
In the suit, Texas Motor Speedway is asking for a second racing date. Of the 36 races on the Winston Cup tour, 18 are run on ISC tracks. Of the past four expansion race dates granted by NASCAR, three have gone to ISC facilities. Of the past five granted, another date went to California Speedway, which was later acquired by ISC.
Texas Motor Speedway is not owned by ISC and wants a second date. If one is granted, the suit may be dropped, according to Cochran. TMS owner Bruton Smith has long claimed that NASCAR had promised a second date to Texas, but NASCAR denies that claim.
"The antitrust allegations illustrate how there is no other remedy for Speedway Motorsports," Samuel Cherry, a partner of Cochran, told the Sentinel. "They just can't create a second event, a NASCAR-formatted race, of their own. It's impossible."
NASCAR president Mike Helton told the paper that NASCAR will not comment on pending litigation, while league vice president of communications Jim Hunter described the suit as being "absolutely without foundation."
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Co-Owner
Bueno Technologies
ESPN.com news services
High profile attorney Johnnie Cochran is taking on NASCAR, claiming the sanctioning body has a monopoly over stock car racing.
The Orlando Sentinel reports that a federal lawsuit was filed in U.S. District Court in Sherman, Texas, on Feb. 13 on behalf of the shareholders of Speedway Motorsports Inc., the parent company of Texas Motor Speedway. The suit claims that NASCAR is a monopoly entity by owning both the governing body and by having controlling interest in International Speedway Corp., the company that operates 13 major auto tracks.
That (breaking up NASCAR/ISC) is the logical end result, and we have the legal counsel to do it," Cochran told the paper. "In addition, we have the resolve."
In the suit, Texas Motor Speedway is asking for a second racing date. Of the 36 races on the Winston Cup tour, 18 are run on ISC tracks. Of the past four expansion race dates granted by NASCAR, three have gone to ISC facilities. Of the past five granted, another date went to California Speedway, which was later acquired by ISC.
Texas Motor Speedway is not owned by ISC and wants a second date. If one is granted, the suit may be dropped, according to Cochran. TMS owner Bruton Smith has long claimed that NASCAR had promised a second date to Texas, but NASCAR denies that claim.
"The antitrust allegations illustrate how there is no other remedy for Speedway Motorsports," Samuel Cherry, a partner of Cochran, told the Sentinel. "They just can't create a second event, a NASCAR-formatted race, of their own. It's impossible."
NASCAR president Mike Helton told the paper that NASCAR will not comment on pending litigation, while league vice president of communications Jim Hunter described the suit as being "absolutely without foundation."
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Co-Owner
Bueno Technologies