When it comes to professional sports and entertainment, there is one sure-handed way for a participant to guarantee a sizable share of the spoils.
Own a franchise. Better yet, own the entire organization.
That would certainly be true for pro football, baseball, basketball or hockey, and it is especially true for NASCAR, America’s premier car-racing body, given the many millions of die-hard racing fans across the country, including in Florida.
Brian France is the CEO of NASCAR, his grandfather the organization’s founder. By any estimation, France is an extremely wealthy man.
And now details of that wealth are emerging in recently released court documents focused on France’s divorce and property division battles with his ex-wife, Megan.
Thousands of pages of divorce-related documentation concerning the couple’s two marriages and divorces from each other were unsealed earlier this week after myriad news outlets had argued that they were public records. What they centrally reveal is that the couple’s divorce agreement is marked by provisions centered on high-asset wealth division.
The couple was married from 2001 to 2004 and then divorced. Following remarriage in 2005, they were again divorced in 2008. The divorce agreement they executed that year provided for a $9 million payment to Megan France, along with an alimony payment of $32,000 monthly for 10 years and $10,000 a month in child support.
Brian France is tight-lipped about his wealth, but a financial statement from 2005 that was among the publicly released documents indicated that he had more than $560 million in assets and is expected to receive a family inheritance that could exceed $1 billion.
Source: Sporting News, “Brian France divorce details released in court documents,” May 8, 2013