DAYTONA BEACH, Fla. (Sept. 4, 2008) - NASCAR Holdings, the operating entity that includes the National Association for Stock Car Auto Racing, announced today the plans to acquire Grand-Am, North America's premier road racing series.

The sports car sanctioning body will work closely with NASCAR in the new relationship which brings together two of the biggest auto racing entities in the country.

While both organizations will continue to operate independently, resources such as communications, marketing, research and public relations will be shared. One example of the benefits of the relationship is Grand-Am having a presence on the NASCAR media site at www.nascarmedia.com.

"This combination of resources will benefit Grand-Am and NASCAR, their competitors and fans as the two companies work together to enhance the two sports," said Jim France, Grand-Am founder and Vice Chairman of NASCAR. 

Founded in 1999, Grand-Am operates several racing divisions headlined by the premier Grand-Am Rolex Sports Car Series presented by Crown Royal Cask No. 16. The 15-event schedule, which is anchored by the season-opening Rolex 24 At Daytona, includes two divisions - the Daytona Prototypes and GT class.

"I think this is great news," said Wayne Taylor, owner of the 2005 championship winning No. 10 SunTrust Racing team and two-time winner of the Rolex 24 At Daytona. "All of the teams have been waiting for this for a long time. Finally, we can now move to the next level."

Since its inception, Grand-Am has helped stabilize the American sports car scene. Its rise has included a rebirth of the successful Rolex 24 event, which has seen tremendous growth since coming under the Grand-Am umbrella in 2000. A variety of drivers from other racing disciplines, including NASCAR stars such as Jimmie Johnson, Tony Stewart, Kyle Petty, Bobby Labonte, Juan Pablo Montoya, Kurt Busch and Jeff Gordon, have helped in the growth of Grand-Am's popularity. Prominent NASCAR team owners Chip Ganassi and Richard Childress also field Grand-Am operations.