NASCAR has sent a memo to all current NASCAR employees about temporary pay cuts during the COVID-19 out break, in a letter retrieved by the Associated Press.
“With the temporary postponement of our season and the impact of the coronavirus is having on every part of our business, we will have to adjust our operations in several significant ways,” Steve Phelps, President of NASCAR wrote. “We are trying to minimize expenses until we can get back to doing what we do best — holding great race events for our fans.”
The pay cuts are 25% reduction to pay to all NASCAR Executives and Presidents at the NASCAR headquarters and all NASCAR owned race tracks. Also a 20% reduction to all other NASCAR employees at all jurisdictions.