NASCAR was founded by Bill France Sr.
The National Association for Stock Car Auto Racing was founded at the Streamline Hotel in Daytona Beach, Florida. It was the first formal organization for stock-car racing, a sport begun with souped-up bootlegger hot-rods during Prohibition. Starting in 1953, the major auto makers invested heavily in racing teams, producing faster cars than ever before: good results on the stock-car circuit were believed to mean better sales on the showroom floor. In 1957, however, rising costs and tightened NASCAR rules forced the factories out of the sport, and the modern era of the NASCAR Superspeedway began.