NASCAR probably does have the highest average viewers at live events (they do have crazy amounts of seating) but they can't compete with baseball's 2400+ games per year. NASCAR has just over 110 events per year if you count Sprint, Nationwide, and Craftsman truck series. (I could be wrong on this, but I'm close. Pretty sure it's one race per series per week for 9 months.)
So NASCAR isn't #1 by any metric any person would normally use to define it. In fact, the Yankees alone sell almost as many tickets as all of NASCAR put together. The NFL, NBA, and MLB all outsell NASCAR by over 5x in terms of tickets.
NFL and MLB are also dwarf NASCAR in terms of revenue. Both are near $6b, which is roughly 3x NASCAR. (This also means that the NFL's average revenue per game is about 10x MLB).
Don't forget, I run a sports-related startup :)