Bill France, the son of NASCAR founder William France, Sr. who is credited with helping grow the stock car racing circuit into a multi-billion dollar U.S. sports phenomenon, died on Monday in Daytona Beach, Florida.

He was 74.

France served as NASCAR's president from 1972-2000, taking over from his father and in 2004 was inducted into the International Motorsports Hall of Fame in Talladega, Alabama.

"He had a remarkable career and an even more remarkable life," said his son, Brian France, who succeeded him in 2003 as Chairman and CEO of the NASCAR Board of Directors.

France was diagnosed with cancer in 1999 and had been in poor health in recent years. He was taken to hospital in March and subsequently released to spend his final days at home.

"Big Bill" France created the National Association of Stock Car Auto Racing (NASCAR) in 1947, attracting many drivers who had honed their skills by out-running law enforcement officials as they transported "bootleg" liquor throughout the south.

After France took over from his father in 1972, he expanded the sport that had been largely confined to the Southeast U.S. to other areas of the country.

France was also chairman of International Speedway Corporation (ISC), the family's track-owning business that began with Daytona International Speedway and grew into Talladega, Alabama, Speedway and 10 other tracks.

France is survived by his wife, Betty Jane; his younger brother, James C. France, who takes over as ISC chairman; his daughter, Lesa France Kennedy, vice president of NASCAR and president of International Speedway Corp.; and his son, Brian.