- Lead Lap's NASCAR News - http://lead-lap.com -
Budweiser To Remain With RPM For Rest Of Season
Posted By Michael J Smith On November 3, 2010 @ 12:53 pm In Gallery,Sprint Cup | No Comments
There were rumors circulating that Budweiser would not make its final payment to RPM because the 2010 contract called for Kasey Kahne to drive the Budweiser Ford, and when he left the team early  to join Red Bull Racing, that contract became voided.
But, an Anheuser-Busch spokesman said:
The Budweiser car is a fixture in the NASCAR Sprint Cup Series and we look forward to finishing out the season.
Robbie Loomis, RPM’s competition director, said that things would remain status quo until the end of the season, despite the rumor. He added that the team will continue to field four Fords for the rest of the season.
Following the release of Kahne, there were rumors swirling that RPM was in financial trouble  and was in danger of going under. Rumor had it that Roush Fenway Racing and Roush Yates engines, which supply chassis and engines to RPM respectively, stopped delivering equipment to RPM.
Shortly thereafter, Jack Roush, owner of RFR, insisted that RPM had been up-to-date on their payments and that cars and engines were being delivered. RPM was able to continue fielding RFR Fords.
Meanwhile, Richard Petty was working to line up investors to take majority interest  away from George Gillett Jr, minority owner of RPM, Ray Evernham confirmed . Gillett’s legal dispute over the recent sale of the Liverpool Football Club to New England Sport Ventures is said to have jeopardized the finances of RPM to the point that there was concern that the team would cease operations.
According to SPEEDtv.com , lenders have taken majority interest away from Gillett, and approved a plan for Petty to manage the daily operations of the team. But, that report hasn’t been confirmed or denied.
Article printed from Lead Lap's NASCAR News: http://lead-lap.com
URL to article: http://lead-lap.com/2010/11/03/budweiser-to-remain-with-rpm-for-remainder-of-season/
URLs in this post:
 Image: http://lead-lap.com/wp-content/uploads/2010/08/bud1.jpg
 left the team early: http://lead-lap.com/2010/10/21/kahne-released-from-richard-petty-motorsports/
 financial trouble: http://lead-lap.com/2010/10/21/richard-petty-motorsports-in-danger-of-going-under/
 take majority interest: http://lead-lap.com/2010/10/25/rumor-petty-attempting-to-buy-majority-of-rpm/
 Ray Evernham confirmed: http://www.sirius-speedway.com/2010/11/evernham-vows-to-support-pettys.html
 SPEEDtv.com: http://nascar.speedtv.com/article/cup-ford-2011-lineup-still-shaping-up
Copyright © 2009 mikejsmith.net. All rights reserved.