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SBD/August 17, 2011/Marketing and Sponsorship
RPM Receiving Interest From Drivers, Sponsors After Ambrose's Cup Win
Published August 17, 2011
Marcos Ambrose on Monday gave RPM its first NASCAR Sprint Cup Series win since it was "rescued by Medallion Financial Corp. and DGP Investments in November," and team Owner Andrew Murstein said that the next day he "received calls from the representatives of three drivers inquiring about driving for RPM, and two potential sponsors," according to Jenna Fryer of the AP. Murstein also said that he has been "in talks with two new potential investors, with the understanding" between himself and partners Richard Petty and Doug Bergeron that "all new money will go into the organization and not in the pockets of ownership." Fryer noted it is a "remarkable turnaround for a team that seemed doomed not long ago but is now operating in the black." Murstein said, "There's a peace of mind now. The drivers know their paychecks are steady. They have deep-pocketed owners. And the sponsors are now comfortable. A lot of them were on the fence. If any one of them had walked, this team would have gone under. So there's stability now that was lacking before." Murstein said that a "new approach to courting partners has been the key." He recently opened an office in N.Y. and is "certain the presence has helped business relationships with potential sponsors and existing partners: Murstein said he entertained executives from STP, a longtime Petty sponsor, at a New York Yankees game last week." Murstein: "I'd like to think we're a breath of fresh air, and I'm pretty surprised more teams don't have New York offices." Fryer noted the investment into a NASCAR team "has also paid off for Murstein's other interests, including Medallion Bank in Utah, where earnings are up 37 percent, he believes, because NASCAR fans are loyal and support a company associated with a race team" (AP, 8/16).