NASCAR Rumor: Multiple Lay-Offs Expected As Sport Undergoes Significant Reshuffling [Video]

NASCAR is set for a major overhaul as it positions itself for the future, as reported by MSN.com. The organization’s president, Steve Phelps, recently disclosed plans for an internal reshuffle, a move sparked by ongoing charter negotiations and a newly forged broadcasting media rights deal. This restructuring aligns with NASCAR’s broader strategy to enhance its global appeal and strengthen its digital and marketing endeavors.

Phelps explained in an internal memo, as per the MSN report:

“[The moves] will allow me to focus more on the strategic vision and global expansion of NASCAR-owned racing properties, which I believe to be the best and most exciting in the world.

“SVP and Chief Racing Development Officer John Probst has been promoted to EVP and chief racing development officer, reporting to O’Donnell.