Posted on 04/26/2002 8:25:04 AM PDT by mhking
Suit alleges NASCAR monopoly High profile attorney Johnnie Cochran is taking on NASCAR, claiming the sanctioning body has a monopoly over stock car racing.
The Orlando Sentinel reports that a federal lawsuit was filed in U.S. District Court in Sherman, Texas, on Feb. 13 on behalf of the shareholders of Speedway Motorsports Inc., the parent company of Texas Motor Speedway. The suit claims that NASCAR is a monopoly entity by owning both the governing body and by having controlling interest in International Speedway Corp., the company that operates 13 major auto tracks.
That (breaking up NASCAR/ISC) is the logical end result, and we have the legal counsel to do it," Cochran told the paper. "In addition, we have the resolve."
In the suit, Texas Motor Speedway is asking for a second racing date. Of the 36 races on the Winston Cup tour, 18 are run on ISC tracks. Of the past four expansion race dates granted by NASCAR, three have gone to ISC facilities. Of the past five granted, another date went to California Speedway, which was later acquired by ISC.
Texas Motor Speedway is not owned by ISC and wants a second date. If one is granted, the suit may be dropped, according to Cochran. TMS owner Bruton Smith has long claimed that NASCAR had promised a second date to Texas, but NASCAR denies that claim.
"The antitrust allegations illustrate how there is no other remedy for Speedway Motorsports," Samuel Cherry, a partner of Cochran, told the Sentinel. "They just can't create a second event, a NASCAR-formatted race, of their own. It's impossible."
NASCAR president Mike Helton told the paper that NASCAR will not comment on pending litigation, while league vice president of communications Jim Hunter described the suit as being "absolutely without foundation."
ESPN.com news services
Anyone is free to start their own racing circuit and build their own tracks.
But, I can't imagine that Johnny Cochrane has a genuine interest in stock car racing.
However, I can imagine another reason why he would get involved: NASCAR is an all-white guy sport (with the occasional exception of Shawna Robinson, who qualifies only every now and then). Cochrane probably doesn't even watch the sport, but if he did, he'd tune in and see white faces when the drivers are introduced, which'd no doubt concern him greatly.
I'm surprised that the ACLU hasn't gotten involved either, considering that the Invocations before the races typically refer to the Lord Jesus Christ.
Gotta give ol' Johnny credit for innovation. He has taken the "Jesse Jackson shakedown" and applied it to sports.
NASCAR Files Response To SMI Shareholder Suit
NASCAR has filed a 93-page motion in federal court asking a judge to dismiss a lawsuit filed by a shareholder in Speedway Motorsports, Inc.
The lawsuit claims that NASCAR is an illegal monopoly that has failed to deliver on a promise to grant a second Winston Cup date to Texas Motor Speedway, a $250 million facility owned by SMI. In doing so, the suit says, NASCAR has constrained SMI's profits.
NASCAR vehemently disagrees and, according to an Associated Press report, contends that many of the "factual allegations" in the suit filed by Francis Ferko are "false and and that none of the claims has substanative merit, but even as a matter of pleading, they are so fatally deficient the court can dismiss them now."
As of April 14, the court in Sherman, Texas, had not dismissed Ferko's suit.
In its motion, NASCAR said its sanctioning agreements with SMI contains clauses that "void any previous agreements and establish no guarantees for future dates," according to the Associated Press. The report also said NASCAR's motion points out that "SMI, through its filings with the Securities and Exchange Commission, admits that NASCAR awards races on a year-to-year basis; and that the four-year statute of limitations on Texas common law claims has expired."
The AP also quotes the motion as saying the "charge of NASCAR's holding a monopoly fails because Ferko did not allege anti-trust injury that results from the alleged monopoly; that NASCAR and International Speedway Corp. did not conspire to withold dates from non-ISC tracks; and that Ferko failed to prove that NASCAR keeps SMI from securing non-NASCAR sanctioned races."
NASCAR also emphasized that SMI "entered into express, written agreements" with NASCAR that will disallow all of "Ferko's common-law claims.
-Mark Ashenfelter and Bill King
ROTFLMAOPIMP.....
I'm a NASCAR loving, cowboy boot wearing, Iknowwhatdraftingmeans kinda gal. Come to me, Johnny boy....let me introduce you to the infield at Daytona and Talladega...Bristol...Darlington....I'm sure it will be life altering experience. But first, let me kick you in the A$$ with pointy toed boots and tell ya something: DON'T BRING NO CADILLAC TO STOCK CAR FIGHT, BOY! ;-)
ps..hey Johnny. Make sure you bring your keys with ya to the track. I'm betting your car don't start with an ignition switch...
STICK TO THE MURDERING, LYING PIMPS THAT YOU AND YOUR SLEAZEBAG DIRTBALL FRIENDS DEFEND. YOU WILL REGRET THE MOMENT YOU STEP INTO NASCAR.
Ok, just had to get that off my chest.....;-)
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