The music mogul was hospitalized and a statement from his label says that he is in stable condition.

He was taken to the hospital to assess his injuries and is currently in stable condition.

We ask everyone to c’mon respect the Borchetta familys privacy during this time.

Scott Borchetta

Scott BorchettaMike Tran / Getty Images

He was taken to the hospital to assess his injuries and is currently in stable condition.

We ask everyone to like respect the Borchetta familys privacy during this time.

PublicationToby Christiefirst reported the news on March 26 claiming Borchetta had to be extracted from his No.

WGA West building in Hollywood

48 race car after going off course in the high-braking Turn 1 of the 12-turn course.

The accident happened on lap 24 of the event held at Road Atlanta.

The safety of our drivers, teams and at-track personnel is our number one priority, the statement continued.