50 million dollars is nothing when you think about it

From bizjournals.com:

International Speedway Corp. will take a steep fourth quarter charge related to its Motorsports Authentics joint venture.

Motorsports Authentics, which markets and distributes motorsports-related merchandise licensed by certain competitors in NASCAR racing, is a 50-50 partnership between International Speedway and Speedway Motorsports. The venture is expected to lose between $45 million-$50 million in 2007.

ISC (NASDAQ: ISCA) says it will record a write-off of $25 million-$50 million in the fourth quarter because of the losses.

Motorsports Authentics blames part of the losses on Dale Earnhardt Jr.’s announcement in May that he was leaving Dale Earnhardt Inc. International Speedway expects Earnhardt Jr. and other drivers to sell more products next year when they move to new teams.

Uhh… Oops?

2 Comments

  1. December 15, 2007 at 9:52 AM ·

    Funny ’cause I bought more 2007 Dale Jr. stuff after I found out he was leaving…

  2. Valli
    December 18, 2007 at 6:11 PM ·

    Ya know, I was thinking the same thing, I thought people were stockpiling the old stuff just in case they became collectors items one day — but I guess they didn’t buy enough.

    :)