NASCAR Holdings announced Thursday an agreement to acquire the Grand-American Road Racing Association (Grand-Am). While both organizations will continue to work independently of each other, the agreement will allow for the sharing of resources, and of course NASCAR's popularity.

The move was done mainly to improve the Grand-Am Series' marketing and communications, brand management, research and public relations.

Consisting of six racing series (Grand-Am Rolex Sports Car Series, Grand-Am KONI Challenge, Ferrari Challenge, Ford Mustang Challenge, Skip Barber Racing Series and the SunTrust MOTO-ST Series), Grand-Am has seen a number of NASCAR drivers climb behind the wheel and test their skills in unfamiliar territory.

"This combination of resources will benefit Grand-Am and NASCAR, their competitors and fans, as the two companies work together to enhance the two sports," Jim France, NASCAR Vice Chairman and founder of Grand-Am said of the situation.