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1 Feb 2002, 03:13 (Ref:207992)
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#1 | ||
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Veteran
Join Date: Dec 2001
Posts: 1,069
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Kmart Pulls the Plug
From http://jayski.thatsracin.com
Kmart pulls sponsorship from #26 and #66: Financially beleaguered Kmart Corp. has halted the flow of funding to two Winston Cup race team it sponsored [#26 and #66 Ford's], effective immediately, sources said early Thursday. No formal announcement has been made, but the Fords of Haas-Carter Motorsports will attempt to make the Daytona 500 field without Kmart's assistance or decals, the sources said. The cars are to be driven by Joe Nemechek [#26] and Todd Bodine [#66]. Kmart has stuggled financially and last week filed for federal bankruptcy protection. The race teams were told at that time that the retailer's commitment for the 2002 Winston Cup season would be honored. Further details are expected soon.(ThatsRacin.com)(1-31-2002) |
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1 Feb 2002, 04:33 (Ref:208012)
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#2 | ||
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Veteran
Join Date: Jun 2001
Posts: 1,318
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Yeah- Unfortunatly it was predicted.
I hope this isn't signs of things to come. Now who do you think goes? Joe or Todd? |
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1 Feb 2002, 04:44 (Ref:208013)
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#3 | ||
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Veteran
Join Date: Dec 2001
Posts: 1,069
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I think they both will end up staying...Carl Haas & Travis Carter should be able to come up with something?
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1 Feb 2002, 04:47 (Ref:208014)
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#4 | ||
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Veteran
Join Date: Jun 2001
Posts: 1,318
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It's been done before. An impressive drive at Daytona might help the situation! Might get somebody to sit & pay attention.
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1 Feb 2002, 05:34 (Ref:208023)
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#5 | ||
 Race OfficialVeteran
Join Date: Jul 2000
Posts: 10,259
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thats badluck, i presume the same goes for carl haas' indy car team
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1 Feb 2002, 07:48 (Ref:208046)
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#6 | ||
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Veteran
Join Date: May 1999
Posts: 1,370
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I figured that this news was coming soon because K-Mart is in deep doo-doo financially right now. They owe quite a bit of money to suppliers so this has to be the first thing to go.
Last edited by Joe Fan; 1 Feb 2002 at 09:22. |
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1 Feb 2002, 08:30 (Ref:208050)
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#7 | ||
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Veteran
Join Date: Feb 2000
Posts: 752
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Just be glad it wasn't an Enron sponsored team. Not only would they have pulled their sponsorship, they would have made off with all of the teams retirement money.
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1 Feb 2002, 18:43 (Ref:208263)
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#8 | |||
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Veteran
Join Date: Dec 2001
Posts: 1,069
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Quote:
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1 Feb 2002, 19:13 (Ref:208297)
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#9 | ||
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Veteran
Join Date: Oct 2001
Posts: 714
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Like Robert Maxwell, he owned the UK Mirror newspapers group , he lost in life in a boating accident after pension funds went missing.........
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