[vincesanity82]

The buzz in the garage in New Hampshire is that at least two New York-based investment banking firms have been making the rounds among Nextel Cup teams, looking to invest in one or more teams, eventually taking a race team public with a stock offering.

So far, there have been no takers among the NASCAR team owners.

At least one of the investment firms has talked with multiple teams in the garage, including Robert Yates Racing, Dale Earnhardt, Inc. and Roush Fenway Racing, multiple sources said. The idea has been for the companies to make cash investments of upwards of $50 million in a team and then at some point sell their interests, perhaps by public stock offering.

“We looked at their business plan and it didn’t make sense to us,” said Roush Fenway Racing President Geoff Smith, who confirmed his team had been contacted by a New York-based investment fund that he did not identify by name.

Robert Yates talked extensively with the potential investors and reached the same conclusion. “You sit in a room with about 20 bankers and you spend about 18 hours in there with them and you realize that they didn’t contribute anything to the gross national product except maybe going to the bathroom,” said Yates, who also has entertained merger and/or partnership offers from Dale Earnhardt, Inc., Robby Gordon Motorsports and Hall of Fame Racing, among others, before deciding to go it alone.

Another team principal who spoke on condition of anonymity Sunday morning at New Hampshire International Speedway, said the team he works with was approached by investors, but chose not to get involved with them, either. “They had a ton of money, but they didn’t know anything at all about racing,” he said, adding the team was not in need of a cash infusion and would only consider an outside investor if that investor could add significant value to the team.

Already, several prominent NASCAR Nextel Cup teams have partners or relationships with investors. Roush Racing merged with the Fenway Sports Group in February, Richard Childress Racing has investment bankers as partners and Ray Evernham is negotiating a deal with Montreal Canadiens owner George Gillet, Jr.

SPEEDtv.com | Nextel Cup | CUP: NY Investors Looking For Cup Teams | by Tom Jensen

[PettyBlue]

Maybe Petty should talk with them.

[tkj24]

Originally Posted by PettyBlue

Maybe Petty should talk with them.

I don't know that I would want to put that off on any team. I think they would be very hard to deal with.

[Racer Duck]

Originally Posted by vincesanity82

“We looked at their business plan and it didn’t make sense to us,”

“You sit in a room with about 20 bankers and you spend about 18 hours in there with them and you realize that they didn’t contribute anything to the gross national product except maybe going to the bathroom,”

“They had a ton of money, but they didn’t know anything at all about racing,”

would only consider an outside investor if that investor could add significant value to the team.

don't know why any team would want to "carry" a banker...

Originally Posted by PettyBlue

Maybe Petty should talk with them.

Petty needs help, but this'd be more work than it's worth...

[LSC9901]

Originally Posted by Racer Duck

don't know why any team would want to "carry" a banker...

I dunno ... I just get this feeling that if banks or investment firms get too deep in the pockets of the owners then they'd want to start making decisions based on profitability. Hence the word "racing" will actually disappear. "Showtime, event, reality" would become the better description for it at that point.

[Pepsi One]

I thought this idea was stupid, but maybe not for the Petty's, Who's more marketable than Richard Petty, He's the Babe Ruth of Nascar and NY would be the best place to advertise!

P.S. Petty is Babe Ruth in most peoples eyes not mine...to me he's just a product of the generation he drove in!

[LSC9901]

Originally Posted by Pepsi One

I thought this idea was stupid, but maybe not for the Petty's, Who's more marketable than Richard Petty, He's the Babe Ruth of Nascar and NY would be the best place to advertise!

P.S. Petty is Babe Ruth in most peoples eyes not mine...to me he's just a product of the generation he drove in!

I still think that if corporations get involved some white collar dupe in an office on the 70th floor will be telling people like Richard Petty what changes to make. Wall Street doesn't specialize in losing money for its investors. I just can't see any owner in their right mind making a deal with the devil.

I guess now we'll see which owners are in their right mind.

[Pepsi One]

Originally Posted by LSC9901

I still think that if corporations get involved some white collar dupe in an office on the 70th floor will be telling people like Richard Petty what changes to make. Wall Street doesn't specialize in losing money for its investors. I just can't see any owner in their right mind making a deal with the devil.

I guess now we'll see which owners are in their right mind.

But if you look at the Petty's what have they got to lose, I dont think their that far away from closing up shop! Maybe they do this and it turns the team into a Hendrick like powerhouse, or maybe they do it and the team dies....So i dont see what their risking, for them its hit or miss, A big team would be ignorant for chasing the idea though!

[PettyBlue]

Pepsi,a product of his generation?Close shop?

[LSC9901]

I don't see Petty closing up shop any time soon. They've been around for a few years and even though they are trailing in technology they are still a force in NASCAR. The right combination isn't in place right now but it is a cycle many if not all teams go through. Look at Rousch right now versus a few years ago. Not sure Rousch is ready to close their doors just yet.

[PettyBlue]

Originally Posted by Pepsi One

But if you look at the Petty's what have they got to lose, I dont think their that far away from closing up shop! Maybe they do this and it turns the team into a Hendrick like powerhouse, or maybe they do it and the team dies....So i dont see what their risking, for them its hit or miss, A big team would be ignorant for chasing the idea though!

It may not be the Petty's closing shop but a team that has just about as much history.Read this link and tell me what you think, The Infield: Elliott plan not working for Woods

[Racer Duck]

Originally Posted by PettyBlue

It may not be the Petty's closing shop but a team that has just about as much history.Read this link and tell me what you think, The Infield: Elliott plan not working for Woods

first, let's compare the Wood drivers:

• Shrader: 8 races, avg start 22.9, avg finish 31.9, DNF 3

• Elliott: 6 races, avg start 23.8, avg finish 29.0, DNF 1

I don't have the DNQ numbers for Shrader, but think it's 2 or 3; Bill has 0 but has used the Past Champs provisional 1 time. it appears Wood Bros are a bit better off with Bill, but neither driver is finishing better than their starting position. they need a driver who will finish near his qualifying effort.

now the Petty drivers:

• Kyle Petty: 16 races, avg start 33.3, avg finish 26.9, DNF 0

• Labonte: 17 races, avg start 22.9, avg finish 21.6, DNF 1

Bobby is getting about all that can be gotten out of the Petty cars, both drivers finish better than their start.

the Petty organization seems to be producing better results than the Wood organization, although Wood seems to be showing an equivalent potential. It may also be that the slump Wood is experiencing is more related to the general Ford/Rousch/Wood slump than any particular driver or organization. Only Kenseth and Edwards are showing any real strength or staying power, yet they are struggling...

of the available drivers right now, Kyle Busch or Kasey would be a good choice for Wood Bros. but doubt they can successfully woo either.

Petty needs to decide who will drive Kyle Petty's car next year .. I expect him to be a part time driver at most (methinks the microphone has "captured" him...)

[Pepsi One]

Originally Posted by PettyBlue

It may not be the Petty's closing shop but a team that has just about as much history.Read this link and tell me what you think, The Infield: Elliott plan not working for Woods

Is there anyone who thinks Woods or Petty can turn the operations around wit a simple driver switch!

[tkj24]

Originally Posted by Pepsi One

Is there anyone who thinks Woods or Petty can turn the operations around wit a simple driver switch!

No I don't. They are too far behind in technology.

[Pepsi One]

Originally Posted by tkj24

No I don't. They are too far behind in technology.

I agree, and I dont think either has the money to keep up!