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Dec

06

Did Nascar Bailout Money Go Into Funding New Teams?

Filed in: Nascar by admin on 12-06-09

I find it fishy the way the off season played out in sequence with mergers and doors closing then all of a sudden several new teams popping up. I believe NASCAR gave low interest loans and worked with Goodyear etc enabling new teams to start up to fill up the field. Not so much for Daytona but without new teams MOST of the remaining races may have been 30 to 35 car fields. I mean it’s logical. Maybe some good actually came out of it. What do you think?

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9 Comments »

Comment by Gigi
2009-12-06 01:54:22

Thanks for the link. At least I finally found a bailout I can be happy about. I love seeing the new teams!

 
Comment by ofx_mole
2009-12-06 01:54:22

I just think with the COT you really only need 1 car. So you can have 1 car nd as long as you don’t wreck it, You can run all the races with it.
With low fields predicted, It will be easier for teams to make the races so if you have money to buy a couple cars, get a decent driver, some good crew members, Its the best time to start a team.

 
Comment by Casey's Girl
2009-12-06 01:54:22

Very interesting Tbone. I have to agree that it does seem a little bit fishy. If for no other reason than the fact that people would start new teams when the economy is so bad. But on the other hand, NASCAR has said that they would not bail out any teams. But it wouldn’t be the first time that an organization did not do as it said, anything is possible.

 
Comment by Richard W
2009-12-06 01:54:22

NASCAR did not get “bailout” money, ISC however may be eligible for a tax break..
NASCAR however, has always helped teams to find sponsors, and get funding in other ways, and even offered “incentives” designed to help struggling teams go racing…
This policy is designed to further the sport, and has been going on since NASCARs beginning..

 
Comment by karl_68c
2009-12-06 01:54:22

I kind of doubt it Tbone, but we’ll never know. We only know what’s in the bill by what the media tells us, and the media only tells us what the government tells it. Therefore we can assume that that’s all the government wants us to know. On the other hand, if the France family funded a “bailout”, we will definitely never know.
Is anybody else thinking conspiracy theory.

 
Comment by know it all
2009-12-06 01:54:22

i think some of the new teams are funded by the crab people from middle earth on the condition that all hendrick and gibbs drivers be replaced by clones from the horse head nebula. here, i’ll post a link to prove my whole theory and blow this thing right out of the wa……. oh damn, who are those guys in dark glasses coming this way? oh no! they must be on to me. tell the world my story. LET GO OF ME YOU BASTAAAAAAAAAAAAARRRRRRDS!!!
oh, ok, after re-reading your question i see you didn’t mean goverment bailout $, you mean to suggest the france family is personally laying down cash to fund teams i guess. still, it’s just as perposterous
yep, good link, i stand corrected. although reading the article it sounds like this tax break has been in affect since 1986, not specifically part of the recent $700 billion bailout. still, unbelievable here i am struggleing to survive paying nearly a third of my paycheck to the government and they’re turning around and giving it to billionaires

 
Comment by fluffy
2009-12-06 01:54:22

1) coincidence
2) they’re still struggling
3) thank God for the merger
4) shhhh! you’ll jinx the ‘09 season

 
Comment by Heide A
2009-12-06 01:54:22

I hope not. I like to support NASCAR voluntarily; I wouldn’t want my taxes to finance a NASCAR team

 
Comment by Michael S
2009-12-06 01:54:22

I think that while you raise some very interesting points, I doubt that NASCAR paid to create these teams to fill out the field.
With the way NASCAR is covered in the media, with all of the leaks, there is very little to no chance that, had NASCAR done this, it wouldn’t have made it in the press.
I think there are a combination of reasons for all of these teams popping up. First, the amount it costs to run Nationwide is comparable to running Sprint Cup, I hear. Back in the day, teams would start in Nationwide/Busch and then move to Cup once they got better. Now, with the mega-teams competing in Nationwide, and bringing big time sponsors with them, it has become just as competitive as Cup, and just as expensive.
So, when you’re thinking about starting a team, you’re more likely lure a sponsor if you’re in Cup rather than Nationwide, which hardly garners the audience Cup does.
NASCAR also banned testing at NASCAR tracks. That results in huge savings because you don’t have to pay to test at the track, you don’t have to pay lodging and transportation costs for team members during the test. Not to mention the cost you’re saving on fuel and tires.
I think a lot of the new teams figure that now is the cheapest time to get into the sport. So, why not start now, when it is cheap, and take a chance of getting a couple top 15 runs, build some cars and a cash reserve, so that when things recover and sponsors come back to the sport, you have enough cash and technical expertise that you’re actually competitive and contending for wins and the championship?

 
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