Forum Activity for @tmc-chase

December 3, 1977: Al Holbert & James Hylton plan for 1978

Stock Car Racing History

Though the 1977 racing season had ended for most, the business-side of racing continued. Now - and then - the business aspect of racing never seems to have an off-season. On December 3, 1977, James Hylton started looking towards the future of his team. He signed Al Holbert to a part-time schedule for 1978, and Hylton slotted himself to race in the remaining races. The partnership was reported in the December 4th edition of the Spartanburg Herald Journal .

The initial plan was for Holbert to race in 10 events in 1978. Turns out he raced Hylton's car in 12 races. In the summer Talladega 500, Hylton fielded his familiar 48 for Holbert while he drove Al Rudd's #12 Buick as a 'teammate' to his son Ricky's #22 Buick.

The relationship only lasted one season. Of his 19 career Cup starts, 12 of them were in Hylton's car in 1978. He returned in 1979 to run the final 6 races of his short-lived Cup career.

A few pics of Holbert in Hylton's 48 in '78 have been shared on RacersReunion.

Daytona - Danny Quick collection

Bristol - David Staten collection

Dover - Lee Greenawalt collection

updated by @tmc-chase: 03/06/18 10:26:07AM

Why NASCAR & Not ISC Purchasing Iowa Speedway?

Current NASCAR

From Des Moines paper, NASCAR bought Iowa for about $10 million. The value of the place has fallen dramatically since being built. The original builders invested $70 million and then got soaked when they had to unload it for $19 million. Then the value fell almost another 50% when NASCAR bought it. But at that price, perhaps the Frances felt like it was too good of bargain price not to act.

http://www.desmoinesregister.com/viewart/20131204/SPORTS/312040109/...

If NASCAR doesn't turn it around though, you may see the track offered on Craigslist or Groupon.

Why NASCAR & Not ISC Purchasing Iowa Speedway?

Current NASCAR

Apparently its not as easy as one might think. Based on other articles I read around the time this was announced, the new TV package calls for 36 races. Not 37 - and I don't think the teams would be looking to expand another date anyway. That means an Iowa Cup date would have to come at the expense of an existing track / race. Immediately, I think eyes turn towards Pocono and Dover - with Dover being the more likely target. But again, I think lawyers for Dover's shareholders would sprint for the courthouse doors if the sanctioning body pulled one of Dover's dates to transfer it to a track that it owned.

As we've seen in all of professional sports, boardrooms, state and Federal legislatures, etc., however, contracts generally aren't worth the paper on which they're printed. If NASCAR wants a 37th Cup race at Iowa, they'll declare it and work with TV and teams to make it happen. If they want to transfer a Cup date from elsewhere, they'll make it lucrative enough for the "losing" track to go away reasonably quiet.

Why NASCAR & Not ISC Purchasing Iowa Speedway?

Current NASCAR

Probably not. Generally speaking, lawyers are better funded than the accountants. And better dressed.

Why NASCAR & Not ISC Purchasing Iowa Speedway?

Current NASCAR

The following opinion and 50 cents ... errr, $4 may get you a Starbucks cup of coffee.

• ISC has committed a boat load of money to upgrade its flagship property - Daytona.
• I'm not sure how much cash they have to pay for the upgrades vs. how much debt they'll float to finance it.
• ISC is a publicly traded company. Like any other, stockholders want a return on their investment through a rise in share price and dividend payouts. Both can be driven by higher revenues, controlled costs, increased bottom lines, and even some bullish speculation about the future (such as what drives a lot of the dot com companies). The battle public companies fight regularly is investors are kind of like the kids in the AT&T commercials. They want more and more and more - and of course they want it NOW.
• Interest in racing seems to be flat or retreating. Fans who buy stuff like tickets and merchandise AND products and services pitched by sponsors. TV ratings are ehhh meaning they can't raise ad rates. Sponsors therefore aren't as plentiful for the teams, tracks, sanctioning body, TV, or websites.
• Iowa as currently structured wouldn't add much revenue or bottom line to ISC. Matter of fact, ISC might have to borrow to buy, uplift and market it. More costs in excess of revenue - at least in near term. Not exactly the plan investors would like to see.
• With NASCAR as the privately-held acquiring entity, they can do things ISC cannot. I'm guessing NASCAR got a bargain on the purchase making it too good of a deal to turn down.They can keep a midwest NASCAR presence to complement Michigan, Chicago, Indy and KC.
• NASCAR as the owner can then turn their attention to marketing what they have without the pressures of a Cup date that ISC investors might demand.
• If the track gets back on solid financial footing, I'm willing to bet NASCAR would then "sell" the track to ISC at a favorable price - as in little or no capital profit. ISC could simply disclose what is called a 'related party transaction' and then move forward with their new asset without having to spend as much as NASCAR may have to.

Even if it makes sense financially for the Frances who control both companies to do it this way, I think there are far broader questions to be answered. As many knew and others may have learned from Tim Leeming's Racing History Minute posts, Bill France as the head of NASCAR also promoted many of his early races - and even competed in some of them as a driver or owner. But that was late 1940s through the 1950s. Today is a different era. ISC and SMI are publicly traded companies. The teams though still privately held are multi-million dollar enterprises. For the sanctioning body who holds all the cards in granting race dates to now OWN a track that is the beneficiary of one or more of those dates is certainly questionable.

As long as Iowa runs the undercard series or maybe an Indy race, NASCAR may be able to move forward with little questioning because the money won't be substantial enough to worry about. But when (not if) the topic of a Cup date going there arises, lawyers in their suits will arrive with suits to challenge the clear conflict of interest.

Racing History Minute - December 2, 1956

Stock Car Racing History

Searched a good number of on-line, archived papers looking for something about this race. Could only find a race report in one paper - the Charleston News and Courier . The scan isn't that great, but you'll get the general idea about it. Based on what I think I can glean from the last paragraph, the race looks like it may have originally been scheduled for a week earlier.

I searched the previous Monday's paper for info. Sure enough, despite another bad scan I found an article indicating the postponement of the race from November 25, 1956. From News and Courier

updated by @tmc-chase: 12/02/19 02:18:29PM

Racing History Minute - December 1, 1963

Stock Car Racing History

Fact with "supposedly" qualifier. Can't help but laugh. You may be right - but certainly reads funny. Reminds me of quote my girlfriend (later to become my wife) said years ago when she defended a rumor monger we worked with.

She said "He doesn't spread gossip. He tells things he thinks are true."

To this day, I still remind her of that quip from time to time. But yes, I also have a very comfortable couch on which I can sleep well.

Racing History Minute - December 1, 1963

Stock Car Racing History

Symbolically yes. But the real mystery seems to be what happened to THE trophy. Scott's family was presented with a best-guess replica. What no one seems to know is what happened to the original trophy presented to Buck. Hopefully it'll turn up one day. Buck won a lot of races, and its likely he had trophies stored in boxes all over the place and in various stages of disrepair. But with all the controversy over the Jax race - then and in the following years - you'd think the trophy would often be within arm's reach.

Racing History Minute - December 1, 1963

Stock Car Racing History

I don't want to diminish the events that took place in Jacksonville. But its been interesting through Tim's racing history minutes and articles I've found for many wins by the Petty contingent to see how many times NASCAR's scoring was messed up. Obviously, it was a tough thing to score a race with all the cars, laps, pit stops, cautions, etc. And fortunately along the way, Morris Metcalfe managed the two-scorer system to help shore up the manual process. Yet its still amazing to see how many times fans, media and teams had to wait for NASCAR to sort through the cards to verify the winner as well as the rest of the finishing order.

In the case of the 1963 Jax race, all signs seem to point to NASCAR and maybe the promoter hiding behind the pattern of scoring woes over the years long enough to avoid having Wendell seen in victory lane.

Racing History Minute - December 1, 1963

Stock Car Racing History

Race report as published in Spartanburg Herald. While its only AP wire copy, I do think its notable that this South Carolina paper chose to include it - especially considering how Scott was treated in Darlington. The only other paper I've found on Google News Archive to run the same report was in the Daytona Beach Morning Journal.

Though I'm sure a December race on the lower-profile Jacksonville track wasn't widely covered, I do wonder where pictures can be found of Baker in victory lane. Once Scott was declared the winner, I suppose most of them were discarded, never published or editorially squashed.