Can Nascar survive the recession?
Nascar is experiencing a merger fest in order to cut costs. The results are employee layoffs and fewer cars fielded. Even after the mergers, you still have major teams with “unsponsored” cars. (See Ganassi Earnhardt). Teams that ran 3-4 cars each, are now running 3-4 cars as a merged team. The reason: sponsorship dollars have dwindled due to an economy in the toilet. *flush sound*
- Ganassi -Earnhardt marriage.
- Petty Enterprises is merging with with Gillett Evernham Motorsports.
- Bill Davis Racing was sold and still lacks a 2009 sponsor.
- Hall of Fame racing a sponsor for half of 2009.
Who would have thought, the name the King built, would be down to just the #43 car. Petty Enterprises went from one of the best to mediocrity. The worst business decision came when they continued to let Kyle Petty drive. HELLO! He did not inherit one ounce of his father’s talent. A young talented Busch/Nationwide Series driver should have been in his place years ago.
Since Ganassi and DEI merged, that leaves Petty/Gillett combination and Penske for Dodge. Dodge is done. Gone. Adios. See ya! You might say, “What about Robby Gordon???” Do we really need to go there?!? It will be a miracle if they can make it past 2009.
It’s the Chevrolet, Ford, and Toyota show now. With GM and Ford experiencing financial woes, you have to wonder how long it will take Nascar to introduce a single supplier for chassis, base engine, gear box, etc. Hello Judd, AER, Lola, and Riley.
Here is something else to ponder, was the driver change at Gillett Everham Racing necessary?? Was it to save money?!
You swap Elliot Sadler for AJ Allmendinger. You have a “starter” vs “late season firing”. Gillett still owes Elliot for 2010 since his contract has that last year. Was AJ plus the buyout cheaper than 1 year of Sadler’s salary?! From a financial perspective, this move makes zero sense.
You want something that really makes you go “hmmmmmmmmmm”? How many cars start a race, run 10 laps, and pull behind the wall. The easiest way to collect ~$75k ~.
My prediction: By end of the 2009 season, you will have less than 40 cars qualifying for races. This could get very ugly folks.
Coming up next: Review of Open Wheel, Road Racing, and Spectators vs the Recession.