Siegel reiterates that DEI is not looking for buyer

By Bob Pockrass - Associate Editor

Sunday, July 13, 2008

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JOLIET, Ill. – Max Siegel vehemently denied that Teresa Earnhardt is looking to sell Dale Earnhardt Inc. and added that he has no interest in pursuing purchase of the NASCAR team.

“We are absolutely not for sale,” the DEI president said Saturday at Chicagoland Speedway. “Every team in this sport has had to look at change in the business model to generate new revenue streams and grow the business to finance racing operations.

“Racing is a core business. If the sponsorship market is up and down and cyclical [and] if you’re going to compete on the racing operation on a weekly basis, you’ve got to fund it. We’ve been approached like every other team by many people trying to get involved in the sport. We would be foolish to not sit down and listen to any strategic partner that would add value to our organization.”

Siegel said he anticipates the company will continue to compete with four teams next season and he is confident that driver Martin Truex Jr. will return.

“He’s a very important part of our company,” Siegel said.  “We have discussions all the time about how to make the company better, how to keep everyone around long term. We love him. It’s business as usual. … I’m confident he will be back.”

Siegel noted that DEI has made a significant company investment to boost shop infrastructure, has formed the combined engine shop with Richard Childress Racing that has streamlined operations, increased power as well as eliminated engine problems. He noted that DEI has operated four teams despite reports that one would close because it does not have sponsorship.

“I have no plans to do anything but have four cars,” Siegel said. “There were reports that … we have a plan to fund and finance that [four-car operation]. Every owner in this sport or any business constantly looks at does your revenue support your operation. We have no plans to go down to three cars.”

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Comments

3 responses to "Siegel reiterates that DEI is not looking for buyer"
  1. 1
    anonymous said:
    Jul 13, 2008 at 6:23 AM

    RUN TRUEX RUN. DON'T SIGN AGAIN WITH TEI.

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  2. 2
    sally whan said:
    Jul 13, 2008 at 11:33 AM

    RUN TRUEX RUN BECAUSE THEY WILL DO YOU LIKE THEY DO EVERYONE ELSE AND WITH OUT MARTIN THERE WITH YOU IT IS NO GOOD SO RUN WHILE YOU CAN GO WITH TONY OKAY OR WHOEVER YOU WANT TO...BUT DONT SAY THERE AND HURT YOUR RACING AND GO DOWN THE TUBE WITH THEM YOU ARE GO GOOD FOR THAT....

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  3. 3
    Timothy Schultze said:
    Jul 14, 2008 at 1:54 PM

    The caps button is in the middle left on the key board it says caps lock press that and it wont let you look near as stupid.

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