Posted on 05/10/2007 8:22:36 AM PDT by agent_delta
MOORESVILLE, N.C. (AP) -Dale Earnhardt Jr. will leave the company founded by his late father at the end of the year in a shake-up certain to ignite a bidding war for NASCAR's most popular driver.
He told Dale Earnhardt Inc. on Thursday that he had decided to make the switch to another team when his contract expires.
"We worked really hard, but we were never close,'' Earnhardt said of negotiations with DEI. "I am a little sad, but I am trying to remind myself to be excited about what's ahead.''
Earnhardt had asked for 51 percent ownership of the team now run by his stepmother, Teresa. Negotiations on a contract extension began before the season and have been tense all along. Earnhardt's sister, Kelley Earnhardt Elledge, had set a deadline to get the deal done by the end of the month.
(Excerpt) Read more at sportsillustrated.cnn.com ...
“Teresa is an idiot for letting this happen. In a few years he will probably be able to buy the company back for a lot less than what she wanted him to pay for his 51%.”
TRUE!!!
I guess Max Siegel isn’t a genius after all.
I did not realize Junior had such a close relationship with Darrel Waltrip. I wonder if he serving as a surrogate father figure?
Guess not.
Good for him and best wishes to his new venture.
as to DEI, I shall hold my comments as to why they messed up big-time, enjoy the slide to the bottom.
Big news and I'm glad Jr. will likely have a better situation.
Childress Racing and Earnhardt together again! Wahoo!
The car number is DEI’s property. Jr. going to RCR to drive the black Budweiser #3 would be hugh!
Hendrick doesn't have room for another driver. At best, they can give him engines. RCR and Joe Gibbs both have room for another team. My money is on RCR.
Good for Jr.!
LOL I was thinking more like ‘The Hulk Hogan of NASCAR’ LOL
Yes, just engines for now.
You just know something was up when Jr. climbed into the #5 a few weeks ago as easy as slipping on an old pair of boots.
After the interview Claire talked with some well-placed people in the garage and the press. Hendrick seems to be involved, either supplying engines for JR Motorsports or with 'lil E driving. RCR is a long shot. The problem being that JR is leery of the comparisons with his Dad, plus RCR is still not proven to be a championship ready organization.
Personally, I think Joe Gibbs is a fool if there isn't a BUDWIESER #18 on the grid for the 2008 Daytona 500.
I am not certain that Jr. wanted to BUY 51% of DEI.
I read an article a few weeks back where the kids were saying that Dale Sr. wanted the company to go to the kids when it was time. BUT...did he put that in the WILL? Apparently not, but JR and his sis were saying “That’s what Dad wanted...”
Teresa is making a horrible mistake! Jr and Childress should hook up and turn the 8 car back into a winner.
G
The will had not been updated since Jr was a small boy, everything went to Teresa. There’s a lesson there for everyone, don’t cheat your children out of what is rightfully theirs by not having a will specifying your wishes. Remember it took him five years YES FIVE to get her to release to him the rights to use his own name. His legal name was a part of DEI when Sr died and that went to the company along with everything else.
Teresa isn’t going to give up the #8 unless she is pressured into doing it.
They were asked to pay $60+ million for 51% of DEI at last count, could have been more. Plus he would have had to report to a board of directors which included TE and Max, so what’s the point of owning 51%.
I wish DEI well for the legacy of Dale Sr, but this was a catastrophic bad decision by Teresa to let this fall apart. Truex will stay through his last year contract for next year. Tony Jr has an opt out clause if Jr leaves DEI but said he wants his team to have a job, so he will decide when Jr decides where he’s going.
Pops hasn’t been heard from tody at all that I know of.
Joe Gibbs doesn’t want alcoholic beverage sponsors, and he just said he isn’t ready for a fourth team.
He better pick up his performance. On average his results the past few years have been somewhat disappointing especially considering how much he had going for him.
Those crazy women on that commercial will be heart broken then . LOL!
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