SkinsBry Posted July 7, 2008 Share Posted July 7, 2008 Dave Moody reported at the start of his show this afternoon that reliable sources told him that Teresa has sought the services of Bear, Stearns to sell DEI or at least find a big investor. This is the only link so far and he heard it the same place as me. http://www.jayski.com/cupnews.htm#news01 http://sports.espn.go.com/rpm/nascar/cup/news/story?id=3477912 Dale Earnhardt Inc. is not for sale -- right now. DEI president Max Siegel on Tuesday refuted an Internet report that company owner Teresa Earnhardt had commissioned investment banking firm Bear, Stearns & Co. Inc. to locate a buyer or financial investment partner. "We have not engaged Bear, Stearns or Goldman Sachs or anyone else," Siegel said. "We are contacted all the time by outside firms about getting involved in the sport. "We are not for sale right now. Nothing is imminent." Click on link for the rest Smoke screen maybe? Remember last year when there were rumors about JGR going to Toyota? Gibbs said, "We have every intention of continuing our relationship with Cheverolet." We saw how much truth was in that. Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted July 7, 2008 Share Posted July 7, 2008 I was just reading this. I wonder why she did not try and sell to JR last year? Isnt this what everybody thought would happen to DEI? Your best driver is a part time driver, and he is leaving next year. Truex has still not signed an extinsion. Link to comment Share on other sites More sharing options...
SkinsBry Posted July 7, 2008 Author Share Posted July 7, 2008 I was just reading this. I wonder why she did not try and sell to JR last year? Isnt this what everybody thought would happen to DEI? Your best driver is a part time driver, and he is leaving next year. Truex has still not signed an extinsion. From what I heard on Sirius, she wouldn't give Jr half, but offered to sell him the 51% but it was more than what Jr was willing to spend. I said last year that she would sell DEI after Jr left, but I thought it would have been a few years down the road. Link to comment Share on other sites More sharing options...
BigMike619 Posted July 7, 2008 Share Posted July 7, 2008 wow..if an Earnhardt doesnt own DEI I dont know what I will do. it will be a big black cloud over the company though thats for sure. Link to comment Share on other sites More sharing options...
DjTj Posted July 7, 2008 Share Posted July 7, 2008 Dave Moody reported at the start of his show this afternoon that reliable sources told him that Teresa has sought the services of Bear, Stearns to sell DEI or at least find a big investor.Is Bear Stearns in business anymore? Weren't they bailed out by the Fed and then sold to JP Morgan? Link to comment Share on other sites More sharing options...
SkinsBry Posted July 7, 2008 Author Share Posted July 7, 2008 wow..if an Earnhardt doesnt own DEI I dont know what I will do. it will be a big black cloud over the company though thats for sure. I heard Wallace, Waltrip, and Bodine are interested in a joint ownership. :jk: I know what you mean, **** just wouldn't be right in the NASCAR world if an Earnhardt didn't own DEI. Link to comment Share on other sites More sharing options...
SkinsBry Posted July 7, 2008 Author Share Posted July 7, 2008 Is Bear Stearns in business anymore? Weren't they bailed out by the Fed and then sold to JP Morgan? Yeah, but they still haz interwebz site. http://www.bearstearns.com/ Link to comment Share on other sites More sharing options...
Blackest Eyes Posted July 7, 2008 Share Posted July 7, 2008 ARE YOU F'n SERIOUS? She is looking to sell DEI after not letting Jr. have majority share of the company? What a complete *****. I remember being pissed when that whole drama was ongoing and I'm not even a fan. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted July 7, 2008 Share Posted July 7, 2008 ARE YOU F'n SERIOUS? She is looking to sell DEI after not letting Jr. have majority share of the company? What a complete *****. I remember being pissed when that whole drama was ongoing and I'm not even a fan. Same here. I watched Dale Sr's last race, and always had a soft spot for Dale Jr afterwards. Link to comment Share on other sites More sharing options...
BigMike619 Posted July 7, 2008 Share Posted July 7, 2008 I heard Wallace, Waltrip, and Bodine are interested in a joint ownership.:jk: I know what you mean, **** just wouldn't be right in the NASCAR world if an Earnhardt didn't own DEI. you see how far they went to keep the 43 with the Pettys and how they dont force the 3 car out. I know they cant force Theresa to sell it to JR but they should... Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted July 7, 2008 Share Posted July 7, 2008 That stupid ***** will not sell it to JR. She had her chance last year to do the right thing and how did that work out? I think it would be funny if nobody would buy in, or she would have to lower her price a lot. :laugh: Link to comment Share on other sites More sharing options...
Oldskool Posted July 7, 2008 Share Posted July 7, 2008 If this surprises anyone I will be shocked. I give a rats ass about NASCAR but I saw this coming last year. Link to comment Share on other sites More sharing options...
SkinsBry Posted July 8, 2008 Author Share Posted July 8, 2008 The more I think about this, the more questions I have. Does the Haas-CNC deal give Tony half ownership or is he buying in? If he's buying in, how much? How much will DEI cost? It's not just four Cup teams, they have NNS and I believe Camping World East developmental teams. If Jr doesn't have all the money it takes, would Hendrick help him out? If Jr and or Hendrick buy it, what happens to the DEI/RCR engine department? Could or would we see DEI, RCR, and HMS come together to build an ultimate Chevy engine? And if that happens, would Honorary_Hog cry himself to sleep every night because Roush wouldn't have anything for them, or even worse, Roush says, "If you can't beat "em, join "em."??? It's just wishful thinking on my part at this point that Jr buys it, or even better, a Jr/Stewart partnership. Link to comment Share on other sites More sharing options...
Busch1724 Posted July 8, 2008 Share Posted July 8, 2008 From what I remember with Jr. last year, he wanted 51% as part of his driver contract. He was willing to pay, but not nearly enough. So fast forward, he leaves which they lose sponsorship money, bad economy, and no major finacial inventors like Roush, Childress, Everenham, etc. So if she would have sold last year or two years ago she could have made A LOT more money, now she sits on it a couple years and things go bad, now you can get it for basically pennies on the dollar. Two years ago you have Jr., Truex, Waltrip (good at bringing in sponsorship money), and a good developmental program. Now you have Truex leaving, Almorola (who may or may not pan out), Menard, and sponsorship issues. It itsn't good and she let it all happen. She thought she was doing the right things, but hindsight is 20/20. Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted July 8, 2008 Share Posted July 8, 2008 http://sports.espn.go.com/rpm/nascar/cup/news/story?id=3478256 Truex loses 150 points and Car and Crew chief for 6 races. I told you HH that he would get a 150 points taken. Link to comment Share on other sites More sharing options...
Spaceman Spiff Posted July 8, 2008 Share Posted July 8, 2008 I'd hit it. Link to comment Share on other sites More sharing options...
GibbsFactor Posted July 8, 2008 Share Posted July 8, 2008 Is Bear Stearns in business anymore? Weren't they bailed out by the Fed and then sold to JP Morgan? You know our ED came from Bear. :doh: Link to comment Share on other sites More sharing options...
isle-hawg Posted July 8, 2008 Share Posted July 8, 2008 I think many of us thought when JR left, DEI was dead. She should not of played hardball with JR. She pretty much killed the goose that laid the golden egg, now she is dealing with the consequences of it. Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted July 8, 2008 Share Posted July 8, 2008 http://msn.foxsports.com/nascar/story/8325680?MSNHPHMA Navy pulls sponsorship for next year's No. 88 Updated: July 8, 2008, 5:50 PM EST CHARLOTTE, N.C. (AP) - Add Dale Earnhardt Jr. to the growing list of car owners searching for sponsorship. The Navy is leaving the No. 88 Chevrolet in the Nationwide Series at the end of the season, forcing Earnhardt to search for funding for the flagship car at JR Motorsports. "We were informed last week that our sponsorship with the U.S. Navy will not renew at the end of the year," team spokesman Mike Davis said Tuesday. "It's been an exceptional partnership since 2005, and we look forward to a strong finish to the season as Brad Keselowski and the No. 88 Navy team contends for a NASCAR Nationwide Series championship." Keselowski gave the Navy its first NASCAR victory last month with a Nationwide win at Milwaukee. He's second in the series standings, and trails Clint Bowyer by 202 points. The Navy has been sponsor of Earnhardt's first car as a NASCAR owner since the formation of JR Motorsports. Last year, he merged his operation with Hendrick Motorsports and now fields two cars out of his new shop in Mooresville. The second car, the No. 5, has been driven by multiple drivers and has used multiple sponsors all season. Mark Martin drove that car to Earnhardt's first win as a car owner at Las Vegas in March. Sponsorship woes are affecting many NASCAR teams in this economic downturn. Just last week, Chip Ganassi shuttered his No. 40 Sprint Cup Series team driven by Dario Franchitti because of a lack of funding. Several other teams have stopped coming to races — the number of cars that attempted to qualify for Saturday night's Sprint Cup race at Daytona was down eight from the 53 who attempted to make the season-opening Daytona 500. Of those, six lacked full sponsorship. I think we are about to see a whole lot more of this. Link to comment Share on other sites More sharing options...
SkinsBry Posted July 8, 2008 Author Share Posted July 8, 2008 ^^^^^^^ Ok, WTF? I don't fully agree with Services sponsoring cars, when that money could go to troops and equipment, but they're in it anyway, so whatever. But you have Navy forming that Jr's Division, or whatever it is. So you have these people joining the Navy to be part of this Jr, NASCAR, Navy thing, but they'll just be stuck in the Navy, with no NASCAR or Jr. Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted July 8, 2008 Share Posted July 8, 2008 I am sure i would suck to be in the Navy anyway. But no JR no NASCAR eather? I am sure it was just a boot camp thing. I was in the USMC i am allowed to make squid jokes. Link to comment Share on other sites More sharing options...
SkinsBry Posted July 9, 2008 Author Share Posted July 9, 2008 http://navy.com/dalejr/ Yeah it looks like just a boot camp thing. I was in the Army myself, I like my soap in a dish and not on a rope around my neck. Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted July 9, 2008 Share Posted July 9, 2008 You think Truex will resign with DEI? I think he will be out of there after this year. This is similar to what happend with JR last year. In a contract year, get a big penalty cause somebody wants to get an advantage. Link to comment Share on other sites More sharing options...
SkinsBry Posted July 9, 2008 Author Share Posted July 9, 2008 I gotta say that he's probably out of there. I hope he doesn't take any ride just to get out of there though. Unless, DEI does get new ownership, depending on who it is, he could stay. Link to comment Share on other sites More sharing options...
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