Auto Racing: Life in Fast Lane

Right or wrong I think NASCAR will lose fans over this. The concerning trend here is not that a member of the Saudi royal family owns a part of a once iconic team, but that a majority stake holder in that team with no historical ties to the sport essentially sold his interest to the highest bidder.

George Gillett is a businessman and he sees fit to do with his money as he pleases. His stake in Evernham was just an investment and it's no surprise that he dumped his share when an interested party came knocking, it happens every day on Wall Street and Main Street.

That said the thing that won’t sit well with fans is realization that the days of familial ownership are over. Portions of a team can be bought and sold and the current owner may bear no ties which prevent him from selling his stake and he may do so with little care of the long term effect on the sport.

As a fan of many forms for motor racing I understand that while these cars run on gasoline the teams run on money, and lots of it. The dependence upon sponsorship and rich benefactors will always be a part of motorsports. Some folks believe that “any money is good money” and I don’t begrudge them for that belief, however I feel that they should carefully consider the source their funds.

When you enter into a business relationship you associate yourself with them. Be it a Saudi royal, Texas oil man, or good ole boy in Kannapolis, you and your reputation as a team will be judged by the company you keep. To see this look no further than GM and Chrysler who’ve experienced double digit declines in sales after bankruptcy and bail outs compared to Ford who thus far has avoided government aid.

At the end of the day fans will look at these teams with multiple stake holders and ask themselves if this is the NASCAR they know and love. Unfortunately some fans will not like what they see and will drift away from the sport. The question that this raises in my mind is whether this new era of ownership will attract new fans. In my opinion it will not, but it will sustain the sport through these dark times. If RPM is Richard Petty in name only then so be it, at least it will keep cars on the track. However don’t be surprised when fans turn elsewhere.

Original article and thread at: NASCAR Insiders: A Saudi Prince? Why Not?