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Privacy and public information in divorce, part 2: the NASCAR case

In our May 1 post, we discussed the question of how much information in a divorce settlement can be kept private. In Cook County, the Chicago Tribune has recently reported on how well-connected and high-profile people are often able to have court records sealed while other people are not.

A recent example of how the dynamics of public disclosure can play out in a hotly contested high-asset divorce involves the highly visible CEO of the popular NASCAR racing circuit. The CEO and his former wife were divorced in 2008, under terms that he sought to keep confidential. 

It was the second time the CEO and his former wife had gotten divorced from each other. They had gotten divorced from each other previously, but remarried each other.

The 2008 divorce, however, was especially acrimonious. The wife accused the husband of failing to spend enough time with their children. He accused her of overly lavish spending.

Court documents unsealed this week give a fuller picture of this bitter divorce.  Of course, fights over money in a divorce are a common occurrence. But such fights can become even more difficult when they involved someone who is in the public eye, as the head of NASCAR definitely is.

There was definitely a lot of money involved in this high-asset divorce. Under the 2008 separation agreement, the wife received $9 million, as well as $10,000 a month in child support. She also received $32,000 in alimony payments, to be paid over a period of ten years.

Source: Unsealed court documents reveal acrimony in NASCAR CEO’s divorce with Charlotte, NC, woman,” Fox News, 5-8-13

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