GM Cutting Support For Nationwide, Truck Series Teams
By Michael Smith, Staff Writer, SportsBusiness Journal
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Uncertain How Much Money GM Spends
Supporting Teams In Nationwide, Truck Series |
General Motors is cutting its factory support of teams in the NASCAR Nationwide and Camping World Truck Series as the automaker restructures under Chapter 11 bankruptcy protection. Factory support typically comes in the form of engines, parts and cash. It's uncertain how much money GM spends supporting teams in the Nationwide and Truck series, or whether some of its Sprint Cup teams might also feel significant cuts. Most notable of the teams affected are Kevin Harvick Inc., which runs in both the Nationwide and Truck series, and JR Motorsports and Rusty Wallace Racing, a pair of Nationwide teams. A GM spokesman would not comment on specifics of the team relationships, saying in a statement, "Chevrolet's (and GM's) involvement in racing is a sound business decision that translates directly into the sale of cars and trucks. It is essential, however, that we continue to look at every penny we spend as General Motors takes the necessary steps to become a leaner company with a significantly stronger balance sheet. While Chevy Racing is talking to its business partners about ways to reduce cost and maximize the return on investment, it is our policy to not talk about the details of business relationships with our partners." Dodge announced late last year that it would pull its support of the Truck Series in '09.
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