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NASCAR Chairman Bill France Jr., 74, passed away on Monday in Daytona Beach, Fla., following a long illness.

The following is a statement from PGA TOUR Commissioner Tim Finchem:

"The PGA TOUR is saddened to learn of the passing of Bill France, Jr. He was a true visionary for NASCAR and the entire sport of auto racing. He fundamentally transformed his sport and positioned it for long-term success. Everyone involved in sports marketing has been able to learn from his innovations and leadership.

The PGA TOUR extends its sympathies to the France family and to everyone associated with NASCAR."