DATE: Wednesday, September 24, 1997         TAG: 9709240625

SECTION: SPORTS                  PAGE: C4   EDITION: FINAL 

SOURCE: BOB ZELLER

LENGTH: 99 lines

NASCAR REPORT

Caution flag waving

on the stocks of 2

leading speedways

Stock market analysts say the bloom is off the rose for the two leading speedway stocks on the New York Stock Exchange, and part of the reason seems to be the arcane way NASCAR does business.

The Wall Street Journal's Florida Journal reported last week that Speedway Motorsports and International Speedway Corporation are ``slowing down,'' and the trend has prompted ``some of their loudest fans on Wall Street to start waving the caution flag about the two stocks.''

Speedway Motorsports stock more than tripled in about 15 months in 1995-96 from $9 a share to about $31, while ISC jumped from $20 to $25 a share in the first four months it was available last fall and winter.

Speedway Motorsports is now trading at about $24 a share, while ISC is at about $22 a share.

Some analysts have downgraded their predictions about the performance of the stock, and others have backed off their recommendations to buy, the paper reported.

``In addition, some analysts are becoming increasingly troubled by the cozy relationships certain racetrack operators have with each other and with (NASCAR), the industry's all-powerful sanctioning body,'' the paper reported.

``But a series of new alliances - between International Speedway and Detroit-based Penske Motorsports ... is raising new questions about whether the industry really works in a way that benefits shareholders,'' the paper said.

NASCAR spokesman John Griffin said any such concerns or sentiments will not change the way NASCAR does business.

``We're out there sanctioning race events, and that's our business,'' Griffin said. ``We're just going to continue to do it the way we've done it for 49 years now.''

New Hampshire race's

ratings below average

In a somewhat related development, television ratings for the New Hampshire race on Sept. 14 were well below the season average for NASCAR events.

The race, telecast by TNN, had a 3.9 rating (2,776,000 households), which equals last year's annual average of 3.9. This year, however, cable telecasts have averaged 4.5.

Stavolas, Stricklin make

switch from Ford to Chevy

Hut Stricklin and the No. 8 Circuit City Ford Thunderbird owned by the Stavola Brothers have always been one of Ford's second-line team, and no one at the team liked it.

Former crew chief Richard Broome, before he was dismissed, complained about Ford's lack of help earlier this year.

On Tuesday, the team announced it was switching to Chevrolet for the 1998 season. ``We all feel that it is in our best interest to work with Chevrolet right now,'' co-owner Billy Stavola said in a statement.

New crew chief Bill Ingle has spent the majority of his career with Chevy, so he's familiar with it. And the team's engine builder, Pro Motors owner Peter Guild, who has built just Ford engines during the past five years, will build Chevy engines for the Stavolas next year.

Gordon gets weekend off

to race in the CART finale

Car owner Felix Sabates has given driver Robby Gordon the weekend off.

Sabates excused Gordon so he could drive in this weekend's CART season finale at California Speedway and continue to look for a job next year. Gordon is being replaced by Sterling Marlin as driver of the No. 40 Coors Light Chevrolet in 1998.

At Martinsville, rising star Steve Park will attempt to qualify Gordon's car for Sunday's Hanes 500. Gordon is planning to drive a Carl Hogan car in the CART race.

No rest for the weary;

'98 season begins Jan. 3

If the beginning of preseason is the measure of when a sports season actually begins for the athletes, then the 1998 NASCAR Winston Cup season gets under way two days after New Year's Day.

Daytona International Speedway released its 1998 January testing schedule last week, and it begins Jan. 3 for the General Motors cars. The Chevys and Pontiacs of GM finish on Jan 5, followed by three days of Ford testing beginning Jan. 6. The final GM test is Jan 12-14, followed by Busch Grand National testing Jan. 15 and 16 and the final Winston Cup session for Fords Jan.19-21.

Who's hot

Kyle Petty. He used to dominate at Rockingham, now his take-no-prisoners track seems to be Dover. Petty finished fifth at Dover in the spring. He won there in an otherwise miserable 1995 season. He should have won last Sunday. His third-place finish, however, moved him from 18th to 16th in points. Not bad at all for a first-year team.

Who's not

Michael Waltrip. His ninth-place at Darlington was his first top 10 since Dover in June. Subsequently: 35th at Richmond after finishing seven laps down; 36th at New Hampshire after a wreck and last at Dover, dropping from 15th to 18th in points.

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