NASCAR Holdings has revealed that an agreement has been reached that will see it acquire Grand-Am Road Racing.
Both NASCAR and Grand-Am will continue to operate independently, with no change on management taking place. As such, Roger Edmondson will continue to act as the president of Grand-Am.
However, the deal will see NASCAR and Grand-Am combine marketing and communications efforts to include brand management, research, marketing and public relations.
"This combination of resources will benefit Grand-Am and NASCAR, their competitors and fans, as the two companies work together to enhance the two sports," Jim France, NASCAR vice chairman and Grand-Am founder said.
A number of NASCAR drivers have contested Grand-Am events in recent seasons, including Jimmie Johnson and Juan Pablo Montoya, while Grand-Am's most successful driver Scott Pruett has taken part in a number of NASCAR races.
Chip Ganassi and Richard Childress also own teams in both NASCAR and Grand-Am.