A $2 billion industry, stock car racing is the largest and fastest-growing spectator sport today. Now celebrating its 50th anniversary, this once-upon-a-small-time competition began with moonshine runners and back-street dragsters. How, then, did it explode into a business phenomenon?

In this examination of the sport-as-business/sport-as-investment phenomenon, Robert Hagstrom combines an investor's keen insight with a racing fan's unbridled enthusiasm to bring you the complete inside story. Here, the author turns a perceptive eye on a unique business model, exploring the singular mission, guiding principles, and economic structure that, from stock cars to the stock market, have successfully propelled NASCAR.

Hagstrom's analysis probes all the essential elements underpinning NASCAR's tremendous success, from licensing and broadcasting rights to the two most important components: sponsorship and fans.

As the bread and butter of NASCAR, corporate sponsorship is treated very seriously. Conversely, as a source of high return on investment, NASCAR is regarded in much the same vein by a host of sponsors, including such Fortune 500 companies as DuPont, Kellogg's, Pepsi, Coca-Cola, General Motors, Ford Motor Company, and Kodak.

However, if corporate sponsorship is the backbone of NASCAR, the fans are its heart. Not only do they bring an infectious enthusiasm to grandstands across the country, they are eager and generous customers, buying millions of dollars worth of souvenirs, videos, and clothing.