TV Times - Auto Manufacturers To Cut/Trim Sprint Cup Team Support?
by Lou Modestino ~ June 30th, 2008 @ 3:32 pmAt a recent meeting of a group of motorsports types in New England, the subject of Detroit automakers involvement in motorsports, particularly NASCAR, was among various things discussed. It was the opinion, of those in the know, that NASCAR could feel the impact of the Big Three automakers who must reinventing themselves in order to survive. We’ve also seen some news reports regarding this. In all likelihood expect to see budgets slashed of the top NASCAR teams who have deals with Chevy, Ford and Dodge. Because sales of new vehicles are not expected to rebound until the price of oil settles down. With $5 per gallon of regular looming by Labor Day weekend, the buying public is very leery of making a major purchase of a new vehicle.
According to reports on ESPN, NASCAR teams are really feeling the pinch due to the high cost of fuel. Also, funding NASCAR teams have risen from $10-$15 million to over $20-$25 million due to increases especially driver salaries. “We could see six or so teams shut down if they are not funded. Nobody is going to run this out of their own pocket for too long, myself included, so it is a serious situation, ” said team principal Doug Yates, owner of Yates Racing.
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