Brian France Divorce Documents Show He Has No Ownership in NASCAR

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Filed under: NASCAR 


 

On Wednesday NASCAR, the private company which runs the world’s most popular and largest stock racing series was brought into the bitter world of divorce. A court order prompted the release of more than 1500 documents form NASCAR CEO Brian France’s divorce case.

But what is not in the documents is even more interesting. Brian France does not own any part of NASCAR.

In his prenuptial agreement written before their marriage in October 2005, and his December 2007 separation agreement, he lists no ownership in NASCAR. Jim France and Lesa France Kennedy are the sole owners of the NASCAR. They are brother and granddaughter, respectively, of NASCAR founder “Big Bill” France.
This was confirmed in the April 2007 lawsuit between Kentucky Speedway and NASCAR. Therefore Brian, who is the nephew and brother of Jim and Lesa and, who has always refused to discuss ownership details, has no stake NASCAR. This is also backed up by the newly released documents.

NASCAR spokesman, Brett Jewkes, confirmed on Thursday that NASCAR is owned by the France family. However, neither NASCAR nor Brian France has any comment on the divorce case or the newly released documents.

However, even though he has no ownership of NASCAR, the documents show how massively wealthy Brian was in 2005 and 2007. According to the documents, Brian’s assets were $554 million with liabilities of $26 million. In 2004, his earnings as NASCAR chairman and CEO grossed $9.05 million. These assets include three California condos worth $4.4 million, a $10.6 million Central Park condo with an additional $780,000 maid condo, three Daytona condos worth $1.8 million, and a $950,000 home in Charlotte. Along with his property ownership, he also owned a yacht $5.2 million, three private planes worth $54.6 million and five cars worth $234,000. Along with this, he lists partial ownership of the Grand-Am sports-car series company, but it had insignificant value in 2007. He also has $120 million worth of stock in the France family owned International Speedway Corp, along with other investments worth $259 million. ISC owns 12 tracks hosting NASCAR Sprint Cup races.

In the divorce, his ex-wife Megan France gained ownership of a $2 million vacant lot, as well as a $3.2 million home in Charlotte.

The case documents were originally sealed, however, Charlotte-area media challenged the sealing, and has the details released. These details show that Brian didn’t pay $6 million of a $9 million payment to his ex-wife Megan. Along with this payment, Brian is paying $510,000 yearly for 10 years in alimony and childcare. The alimony and childcare payment are for their twin children, born in September 2006. Meanwhile, the $6 million, plus any interest is being held pending the outcome of the case.

Details on why Brian defaulted on this $6 million payment come from the documents, which come from a September 2008 lawsuit (the divorce was finalized prior to this). In this lawsuit, Brian states that Megan broke the original terms of the divorce, by not adhering to visitation rights, agreements on the employment of nannies, and confidentiality clauses.

However, Megan France counters saying that Brian was not involved enough in the life of their children, refusing to pay prep school fees for her daughter from a previous marriage.

 

 

Comments

9 Comments on Brian France Divorce Documents Show He Has No Ownership in NASCAR

  1. David on
  2. Do you know why a divorce is so expencive? BECAUSE IT’S WORTH IT!!!

  3. Beverly on
  4. You are right David, Divorce is sooooooooooooo worth it. It is a whole lot better than being physically and mentally abused constantly.

  5. Daver,not the same david on
  6. not all men physically and mentally abuse women,thats just unfair to say.my folks have been very happily married for 55 years,and there has never been any abuse for either side..yet i was once engaged and the woman i thought i loved and loved me..was very abusive to me..physically..mentally..she went so far as to bite herself in full view of a police officer ( unknown to her) then claim i had biten her..if it werent for that act..id be known today as an abuser.odd thing?..the police officer who witnessed her bite herself was and ex-girlfriend of mine who knew i was not an abusive man..

  7. Mama Donia on
  8. Never knew that Brian France was not part owner of Nascar. He has always looked like he was an arrogant rascal, I’ve never liked him. I think “Big Bill” and Bill, Jr. would both turn over in their graves, if they knew how he was running this business. Nascar is nothing like it use to be, it’s all about how much money can be made. I personally think after Dale Earnhardt and Bill Jr. died, it has gone down hill, prices are up and attendance is down. If his x-wife is due the monies and everything in the agreement, then Brian pay up and go on down the road. I personally also think Nascar is fixed to some degree and now they have got to let Toyota win a championship, remember what I just said when the end of the year comes around!

  9. MARE on
  10. How does anyone know for sure that he didn’t turn over his interest to his relatives before the trouble started so it shows he has no interest so his ex does’t get any of it. On the other hand, if he would have signed a prenuptual agreementl, she wouldn’t have been able to get any of the company anyway if he made the money before they married the first time—-if you have that kind of money, you are going to have to give up some of it in a split. You know what she was after to start with, it sure wasn’t his looks for sure !!!!!!!

    Oh, well, the truth always comes out at some point or another.

  11. Gabe on
  12. Sort of reminds me of Walmart when Mr.Sam Walton was still alive, compared to how it is now days with all of the trashy Chinese products flooding their stores. Mr. Sam is likely doing laps inside of his coffin trying to get out!

  13. angel on
  14. wasn’t Brian France married before. I know he married megan twice but i thought i read his was married before her

  15. Baby Nurse on
  16. Until you have worked within a household the person you see is not always who they truly are. Mr Brian France is a gentle soul working in the France household I can say first hand. There was no one that treated everyone of his staff with the greatest respect from the gardener to the maids everyone was treated with respect. Never raised his voice. I remember clearly Mr France would ask have you eaten. If my answer was no he would make sure to order a meal. His Mother was such an awesome lady. So until one have a one on one experience with a person. Then it is just your opinion of the person.

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