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AP source: NASCAR memo: France family 'dedicated' to sport

The France family issued a statement Tuesday after reports began to circulate about a potential sale of the auto racing series. (NASCAR Images)

NASCAR President Brent Dewar has told employees the France family "remains dedicated to the long term growth of our sport."

The memo was sent to employees on Tuesday, one day after a media report said the France family was exploring the sale of its stake in the nation's top auto racing series. The Associated Press received a copy of the memo from a person who shared it on condition of anonymity due to the sensitive nature of the topic.

Dewar wrote in the memo that NASCAR does not comment on "industry rumors" but did not specifically address a possible deal by the France family, which holds the majority of NASCAR stock.

NASCAR has struggled with recent ratings and attendance declines and several big-name sponsors have scaled back or pulled out.

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