Settlement
As the case was preparing to go to trial in 2004, the parties settled the lawsuit as part of a larger restructuring of NASCAR. In the settlement, ISC sold the North Carolina Speedway in Rockingham (now known as Rockingham Speedway) to Speedway Motorsports, and Speedway then moved Rockingham's one NEXTEL Cup race (which had been held in February) to Texas. However, as part of NASCAR's date realignment, the February race was actually moved to Auto Club Speedway, and the date given to Texas was the November date previously held by the prestigious Southern 500 at Darlington Raceway, which gave Texas a race in the Chase for the Nextel Cup and cost Darlington one of its two race dates. For its part, Speedway had to agree that Rockingham would be used only for non-competition NASCAR uses, such as for movie settings about the sport or for testing. As a result of a 2006 NASCAR testing rule change limiting testing on tracks used for NASCAR competition, testing at Rockingham has become more commonplace.
Read more about this topic: Ferko Lawsuit
Famous quotes containing the word settlement:
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—John Adams (1735–1826)
“The Puritans, to keep the remembrance of their unity one with another, and of their peaceful compact with the Indians, named their forest settlement CONCORD.”
—Ralph Waldo Emerson (1803–1882)
“The difficult and risky task of meeting and mastering the new—whether it be the settlement of new lands or the initiation of new ways of life—is not undertaken by the vanguard of society but by its rear. It is the misfits, failures, fugitives, outcasts and their like who are among the first to grapple with the new.”
—Eric Hoffer (1902–1983)