Financial Troubles of The 2004 Season
Financial problems developed midway in the 2004 season when the ASA began to cancel races, and television contracts were canceled.
By the end of the season, the series' demise came when the series raced at Lowe's Motor Speedway. During the driver's meeting for the 99-lap Aaron's 99 event (held after NASCAR Nextel Cup qualifying for the UAW-GM Quality 500), they informed competitors they did not have funds to pay teams after the race, and they asked for an extension. This despite the fact that Lowe's Motor Speedway had wired the entire purse and sanction fee to ASA as per the sanction agreement. Disappointed by Steve Dale's decision to cancel his trip to the event, the track impounded ASA's vehicles and equipment. A settlement was made where Speedway Motorsports, Inc. (owners of Atlanta Motor Speedway and Lowe's Motor Speedway) decided to pay the competitors directly after the final ASA race at Atlanta.
The sanctioning body collapsed and was shut down after the 2004 season, and the National Tour folded.
Read more about this topic: American Speed Association
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