Report: Layoffs Hit NASCAR as Part of New Restructuring

What’s Happening?

On Wednesday, Adam Stern reported that Sports Business Journal obtained an internal memo from NASCAR highlighting the sports’ restructuring. The restructuring included new roles for some NASCAR executives and even some layoffs throughout the industry.

• NASCAR laid off an unknown number of employees, only specifically mentioning the sponsorship sales department. The downsizing also comes amidst big changes to the business side of NASCAR for 2025. This includes charter negotiations with the race teams for the current deal expiring at the end of the season, along with a new media rights deal set to begin in 2025.
• The new structure will see Steve Phelps take on a “Big picture role” with NASCAR, as three employees will report directly to him. These employees will be Chief Operating Officer Steve O’Donnell, Executive Vice President (EVP) and Chief Administrative Officer Ed Bennett, and Amanda Oliver, who heads NASCAR’s legal department.
• Multiple promotions will also result from this restructuring. This includes Brian Herbst becoming EVP and chief media and revenue officer, Ben Kennedy rising to EVP and chief venue and racing innovations officer, Michelle Byron moving up to EVP and chief partnership and licensing officer, Tim Clark transitioning to EVP and chief brand officer, Eric Nyquist becoming SVP and chief impact officer, Scott Prime changing to SVP of global strategy, John Probst now EVP and chief racing development officer, and other various lower level promotions. These individuals will report directly to Steve O’Donnell.

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