NASCAR Sprint Cup Series
 
         === Daytona moving forward with its redevelopment project ===
 
 Daytona  Beach,  FL (Sports Network)  - Major changes to Daytona International
 Speedway are coming soon.
 
 International  Speedway Corporation, which owns DIS, announced on Tuesday that
 its  board of  directors has approved funding to redevelop the frontstretch of
 the  famed 2.5-mile  racetrack. Groundbreaking for the project is scheduled to
 begin on July 5, which is the day before the 400-mile NASCAR Sprint Cup Series
 race  here, and is targeted for completion in January 2016, prior to the Rolex
 24 and Daytona 500.
 
 The  redevelopment  is expected to cost  between $375 million to $400 million.
 ISC  plans  to  fund the  redevelopment  from  cash  on  hand, cash  from  its
 operations  and may use borrowings on its credit facility for a limited period
 of time to even out cash flow.
 
 "We  are  truly creating history  with this unprecedented endeavor," ISC Chief
 Executive Officer Lesa France Kennedy said. "I commend the board's decision to
 move  forward on  our plan  to redevelop  the company's  signature motorsports
 facility, thereby shaping the vision of Daytona for the next 50 years."
 
 Following  an  unsuccessful bid for a  public and private partnership with the
 State of Florida during a recent legislative session, ISC was forced to reduce
 the  scale of its redevelopment plan. Among the features that were revised and
 no  longer included  in the  redevelopment plan  was a  major overhaul  of the
 midway area.
 
 In  February, track  president Joie  Chitwood III  revealed information  about
 redeveloping  the grandstand  area along the frontstretch, which includes more
 fan amenities and redesigned entrances into the venue.
 
 ISC  noted  every seat  in the  speedway's frontstretch  will be replaced with
 wider  and more comfortable seating. Current seating capacity at DIS is listed
 at 147,000, but that number will be reduced to approximately 101,000 capacity,
 with the potential to increase to 125,000.
 
 The track opened in 1959 and has hosted the Daytona 500 each year since then.
 
 
 06/18 13:22:25 ET

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