Divorce Reveals Nascar Chairmans Finances

New Jersey residents might be interested to hear that Brian France, the chairman of NASCAR, divorced his wife for the second time with even more assets to be divided between the two this time around. The couple originally married in 2001, divorced in 2004, remarried again in 2005 and are now divorcing again.

France became the chairman of NASCAR in 2003, and as of 2005 his assets were listed to be more than $554 million. Their divorce is definitely classified as a high asset divorce with France also owning five cars, two planes and an 84-foot-long yacht. In addition to his stock in International Speedway Corp. as well as his NASCAR salary, he also has ownership in two restaurants in Atlanta and one in Winter Haven, Florida. His real estate includes three condos in Daytona Beach, Florida, two in L.A. and one in Central Park West in New York. He also has two properties in Charlotte, North Carolina.

France and his wife’s divorce case has almost 2,000 pages of documents. Their separation agreement mandates that France pay his ex-wife $42,000 a month in alimony and child support for 10 years and a lump sum of $9 million to be paid in annual installments of $3 million for three years.

Divorce attorneys may help those seeking a divorce negotiate a fair divorce settlement, especially when it comes to the division of their property and other assets. Divorce attorneys may be especially crucial to those entering into high asset divorces, especially if the couple did not enter into a prenuptial agreement beforehand. Divorce attorneys may also help clients with matters such as alimony, child custody and liabilities.

Source: USA Today, “Divorce case reveals details of Brian France“, May 08, 2013