The extent of the recession’s impact on Nascar, one of the world’s most successful sports businesses, emerged on Tuesday after the main owner of US stock-car racetracks forecast a 15 per cent fall in attendance and a drop in sponsorship and hospitality revenues this year.

International Speedway, which owns about half the tracks that stage major Nascar events, reported a 31 per cent drop in first-quarter income to $25.1m. Revenues dipped by 14 per cent to $166.1m. Its shares were down more than a fifth at noon on Tuesday.