Economy Woes Catching Up to NASCAR Teams
Written by Tiffany Ricardo · July 7, 2008
The first has fallen. Chip Ganassi Racing decided to close its #40 Sprint Cup Dodge team last week. The cut back leaves 71 employees roaming the garage for jobs, not to mention driver Dario Franchitti, who has reportedly not yet decided if he will take the Ganassi Nationwide Series ride he’s been offered. With the way things are looking, Ganassi may not be the only team headed for trouble.
Think about what may happen to DEI within the next few years. Rumors have surfaced that long-time sugar daddy John Menard is not happy. If Menard decides to pull his sponsorship, it is almost certain that his son driver Paul Menard, will follow suit. Martin Truex Jr. has been in the rumor mill all season, and with his team’s big infraction at Daytona (the roof did not fit NASCAR’s template,) sure to cost him valuable points, his chances of making the Chase are getting slimmer by the day. The Daytona mishap may be the thing that pushes Truex out the door as well. Sponsor Bass Pro Shops is reportedly looking at other teams as well.
It is possible that just about everyone at DEI has the option of bailing out after 2008, leaving them tentatively with Regan Smith, Aric Almirola, and no certain sponsorships. The U.S. Army has not said definitively that they will be back on the #8. You can bet there is some scrambling going on at DEI right now.
Petty Enterprises is also woefully lacking in the primary sponsorship department despite the fact that they have resigned Bobby Labonte and have financial backing from Boston Ventures. The team is losing Cheerios/General Mills to Richard Childress Racing. Evidently, few if any of the team’s secondary sponsors have committed past 2008.
Then there is the #21 car. What is to be done for the Wood Brothers aside from an all out Yule Cleansing Ritual? Bill Elliott is said to be hanging it up for good after 2008, but with these drivers nowadays, one never knows (see: Mark Martin; Terry Labonte.) Backing from Little Debbie and the Air Force is in doubt, so Ford may well be this team’s only help for 2009 and beyond.
The one bright spot to come about in all the economic strain is Yates Racing. The team is rumored to be close to landing major sponsorship, which they fully deserve after performing so well with virtually no financial help in the first half of 2008. The only problem is, if one team is acquiring sponsors, that usually means that someone else in the garage is losing those very same sponsors. It’s a vicious cycle, but it’s a sign of the times.
Without a bevy of new sponsors suddenly deciding to break into Sprint Cup racing, things are looking pretty grim for all but the biggest teams, all of which seem to be getting bigger and richer (ahem, Richard Childress!) while the little guys suffer. Where is our Sprint Cup Robin Hood, who will swoop in and establish justice? It may be time for NASCAR to don the green cape and tights and lend a helping hand if they want to keep a 43 car field.
All kidding aside, with the way things are going, even the big guys may not be so untouchable in the future. There may be more guys and gals roaming the Cup garage looking for work by 2011 than there are are people actually working.
How’s that for your daily dose of economic doom and gloom?
Read Tiffany’s weekly travel adventures in her “Ring of Fire” blog at www.racelineonline.com. You can also watch the show on the “Media Line” feature. Yes, she knows she needs a haircut.
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