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Series insider trading: NASCAR buying Grand-Am from Frances
The Associated Press
Friday, Sep. 05, 2008
NASCAR has reached an agreement to acquire the Grand-Am Series from the France family.
The move will allow NASCAR and Grand-Am to combine marketing and communications while continuing to operate and sanction races independently, officials said.
"It means that NASCAR shares my opinion that this (Grand-Am) is the next big thing and is now prepared to move forward and help make it happen," Grand-Am president Roger Edmondson said.
The Grand-Am Series was established in 1999 and is based in Daytona Beach, Fla., where NASCAR - a company privately held by members of the France family - is also headquartered.