Canadian businessman Steve Meehan purchased Bake Curb Racing in a deal that closed on March 19th, according to Toronto’s Globe and Mail. Meehan bought the team with plans to make it an all-Canadian NASCAR team with aspirations to make it to the Sprint Cup Series.
Meehan is founder of the Investment Planning Counsel, which was acquired by IGM Financial in 2004 for $95 million in a cash and stock deal.
Fellow Canadian JR Fitzpatrick, current BCR driver, is said to be a key element in the team’s plans. Fitzpatrick said:
I think it’s fantastic. Steve is a really good guy, he’s Canadian and he really wants to see Canadian corporate sponsorship and Canadian drivers, so I mean it’s really cool. He really believes in me and that’s what I really like. Given that I do need the experience and the time at the tracks and, even if it can’t be a full year, he is definitely going to push my career along and I am glad to be a part of it.
The team is currently seeking sponsorship, but Meehan plans to shoulder the financial burden until sponsors can be found. The short term goal is to run a limited schedule in the Nationwide Series and a few Cup races in 2011, with an overall goal to make it to the Cup series full time by 2013.
Our focus is to quickly evolve to a full-time Cup team and I think J.R. is sufficiently talented to get there with the right people behind him.