Motorsports Authentics, an equally owned merchandise joint venture between race-track owners International Speedway Corp (ISCA.O) and Speedway Motorsports (TRK.N), has received default notices from certain licensors, regulatory filings show. In a filing with the U.S. Securities and Exchange Commission, Speedway Motorsports said Motorsports Authentics had stopped paying certain guaranteed royalties in its third quarter, and was attempting to renegotiate agreements with all significant licensors of NASCAR merchandising. “MA is exploring other business strategies to turn its business around. If such efforts are not sufficient or timely, MA could ultimately pursue bankruptcy,” the filing said.(Reuters)(10-7-2009)
