NASCAR majority owner Jim France is stepping down as chief executive of the sport just weeks on from the end of a lengthy legal battle with team owner and basketball legend Michael Jordan.
France, 81, will be replaced by president Steve O’Donnell, according to multiple reports, but will stay on as NASCAR chairman.
It is also being reported that France’s majority ownership stake in the sport will not change in the wake of his decision to step down from the CEO role.
O’Donnell, meanwhile, will be the first person outside the France family to hold the CEO title of NASCAR.
Bill France Sr. founded the United States’ most popular racing series in 1948 and always had a family member in the top role prior to the changes expected to be announced at Talladega Superspeedway in Alabama on Saturday.
Ben Kennedy, France’s great-nephew, will be promoted to chief operating officer.
Jim France had been chairman and CEO of NASCAR since the 2019 resignation of his nephew, Brian.
France took a hardline stance in negotiations for the 2025 revenue-sharing agreement, triggering a highly-publicized anti-trust lawsuit by Michael Jordan’s 23XI Racing and Front Row Motorsports.
The sides reached a settlement in December that granted NASCAR teams the permanent charters they had sought.
The settlement in December secured a permanent franchise-style model in a huge victory
In the aftermath, France and Jordan addressed the media side-by-side outside the courthouse.
France was soft spoken, needed several questions repeated and struggled to remember several topics during his first day of testimony in the anti-trust trial before a stronger second day.
NASCAR Commissioner Steve Phelps resigned earlier this year after inflammatory texts he sent during contentious revenue-sharing negotiations were revealed during the trial.
