Siegel reiterates that DEI is not looking for buyer
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.”
