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Sports Biz
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NBC affiliate WESH is reporting the death of one of the most influential executives in sports. The station says International Speedway Corp. president Lesa France Kennedy was killed in a small plane crash. She is the daughter of the late Bill France Jr. (who died last month from cancer) and brother of NASCAR chairman Brian France. Her husband, Dr. Bruce Kennedy, also on the plane, has also been reported killed.
When a major executive leaves a company, most of the time it doesn't make a difference. This loss will really hurt. By all accounts, France Kennedy was an integral part of the company's business and an one of the most experienced, battle-tested motorsports executives in the entire world.
The company, traded under the symbol ISCA[ISCA
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] , had just reported that it expected lower full year earnings due to the hit it will take from its merchandising business. The business, Motorsports Authentics, which is jointly owned by Speedway Motorsports [TRK
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] , is said to be affected by Dale Earnhardt Jr.'s departure from Dale Earnhardt Inc. at the end of the year. The company had a licensing agreement with DEI.
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