NASCAR reportedly lays off employees amid major internal restructuring ahead of 2025 season

Ahead of the 2025 season, NASCAR is undergoing an internal restructuring, which comes on the heels of stalled charter negotiations and a new broadcasting media rights deal. Several executives will be given new roles and responsibilities under the new structure, which also includes an unknown number of people being laid off.

According to a report by renowned journalist Adam Stern, NASCAR President Steve Phelps released an internal memo stating that he is set to take on a "big-picture role." Phelps stated in the memo (via Sports Business Journal):

"[The moves] will allow me to focus more on the strategic vision and global expansion of NASCAR-owned racing properties, which I believe to be the best and most exciting in the world."

Moreover, three executives and chief operating officer Steve O'Donnell will report to Phelps directly after the restructuring. Brian Herbst, Senior VP of Media and Communications is being promoted to the role of Executive VP and chief media & revenue officer. IMSA CEO Ed Bennett will also report to Phelps, along with Amanda Oliver, the head of the legal department.

The report also mentioned a few more changes under the new structure, such as:

"SVP and Chief Racing Development Officer John Probst has been promoted to EVP and chief racing development officer, reporting to O’Donnell."

"SVP and Chief Communications & Social Responsibility Officer Eric Nyquist is now SVP and chief impact officer and will continue to lead NASCAR’s efforts in sustainability and DEI."

"Michelle Byron, SVP of partnership marketing, has been promoted to EVP and chief partnership & licensing officer."

"Tim Clark, SVP and chief digital officer has been promoted to EVP and chief brand officer."

"Scott Prime, VP/strategy & innovation and the former McKinsey & Co. exec who is one of NASCAR’s foremost behind-the-scenes strategists, has been promoted to SVP of global strategy."

However, the memo didn't mention any changes to chairman and CEO Jim France, or Executive Vice-chair Lisa Kennedy (niece of Jim France). Although, Ben Kennedy has been promoted to Executive VP and chief venue & racing innovations officer. The 32-year-old is the son of Lisa Kennedy and a former NASCAR driver.

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NASCAR in talks with UFC boss Dana White

According to the memo by Sports Business Journal, NASCAR is in talks to invest in Thrill One Sports & Entertainment’s Nitrocross Rallycross racing series, which is co-owned by UFC CEO and President Dana White.

In a recent conversation on the Flagrant podcast, White revealed that he was working on a deal with NASCAR's top executives and would meet them after the 4th of July. He said:

"So we own Nitro Circus and we own Travis Pastrana’s Nitrocross, which is electric car racing. After the Fourth of July, I’m flying to NASCAR and we’re doing a deal with NASCAR. We’re gonna be the electric series for NASCAR. We’re working on that deal right now,"

Moreover, NASCAR recently revealed its new ABB NASCAR EV prototype during the Chicago Street race weekend, showing a keen interest in shifting to EVs. This electric series could turn into reality in partnership with the boss of UFC.