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Post by 221dayton on Sept 30, 2013 9:22:32 GMT -5
Sporting News 9/29/13
DOVER, Del. — Michael Waltrip Racing co-owner Rob Kauffman is disappointed with the recent actions of his organization but is trying to come up with a plan for it to remain a three-car team.
That plan doesn’t appear to include him just pouring more money into the organization, which he co-owns with Michael Waltrip.
Kauffman has temporarily moved from New York to Charlotte to work on keeping the team on solid financial footing after the departure of Martin Truex Jr. sponsor NAPA, which decided to leave the team after MWR was severely penalized for trying to manipulate the Sept. 7 race at Richmond so Truex could make the Chase.
Whether that means Truex racing for the team next year, Kauffman was non-committal as he attended his first race since the incident at Richmond.
When asked about his plan, Kauffman didn’t bring up sponsoring the cars himself.
“I’m looking at all kinds of different scenarios,” Kauffman said Sunday at Dover International Speedway. “It’s obviously pretty early. I’m doing my level best to figure it out as quickly as possible.
“I’ve basically packed a big bag, relocated to Charlotte and I’m not leaving until we get it sorted out.”
Kauffman bought into MWR during MWR’s inaugural 2007 season and rescued it from having to shut down after Waltrip found himself in a financial crisis.
The founder of the highly successful Fortress Investment Group, Kauffman has brought financial stability to the organization and also has helped it become a three-car operation that competes for wins.
“The team has made tremendous progress over the seven years with a great group of people, great partners,” Kauffman said. “Obviously what happened is highly disappointing, but I can’t change that.
“So what we’re going to do is focus on how we can do the best going forward. Life throws curveballs at you; you just kind of get up, shake it off and move on. Life is about change, and you just have to adapt.”
Last year, Clint Bowyer and Truex made the Chase. Bowyer made it this year and Truex was in the Chase initially before NASCAR determined that Bowyer’s spin with seven laps remaining at Richmond and teammate Brian Vickers pitting late in the race were part of an attempt to help Truex earn a wild-card berth.
The penalties to MWR included 50 pre-Chase points, which knocked Truex out of the Chase, as well as a $300,000 fine and an indefinite suspension to team general manager Ty Norris.
While Kauffman was in Europe the last few weeks, he was in constant contact with his team executives and NASCAR.
“Our guys made some mistakes,” Kauffman said. “We paid a heavy price. We paid our penalties. And we move on.”
Kauffman has put his RK Motors muscle car business on the hood of MWR cars for occasional races but didn’t mention that as a viable option for an entire season for Truex, whose sponsor announced Sept. 19 that it would leave the team with two years left on their deal.
“Our goal is to have competitive cars and field as strong of team or teams going forward,” Kauffman said. “I’m not going to be specific about one thing or another. …
“Obviously the cars have been competitive. If you asked me last summer, (I’d say) we were chasing that last 1 percent. We’re still chasing that last 1 percent. We got a little bit distracted. We want trophies and we want to compete for a championship.”
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Post by goodgrief on Sept 30, 2013 12:55:09 GMT -5
I wonder if Kauffman is sorry he got involved with Waltrip?
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Post by Exit 81 on Sept 30, 2013 18:20:04 GMT -5
I wonder if Kauffman is sorry he got involved with Waltrip? Probably not since after he got involved MWR had some success. He looks to be a businessman who is also an organizer and unless Michael Waltrip embarrasses him too much, should bring the team back together with the financial resources he has available to use.
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Post by 221dayton on Oct 1, 2013 8:49:13 GMT -5
Dustin Long MRN 9/29/13
DOVER, Del. - Rob Kauffman, co-owner of Michael Waltrip Racing, calls it a “relatively low probability’’ that his car company would be the sole primary sponsor for Martin Truex Jr.’s team next season.
With NAPA recently announcing its departure, Michael Waltrip Racing must find about $15 million in sponsorship to fund Truex’s car for next season and keep him.
Kauffman’s company, RK Motors, has served as a primary sponsor for Clint Bowyer and Brian Vickers’ cars in six races this year. Kauffman said that his company could “fill in a gap’’ on Truex’s car.
That would still leave MWR needing to find sponsorship for a majority of the races next year for the third car. Waltrip said last week that he asked Truex to give the team a little time before making a move elsewhere. Truex said earlier this weekend he had nothing new to report on his future.
Kauffman, who is based in London and a founding principal in an investment group, was making his first appearance Sunday at a track since the Richmond race. NASCAR penalized MWR for manipulating the finish at Richmond. The result was that Truex fell out of the Chase and NAPA broke its three-year contract, leaving the team after this season.
While Waltrip represents the public face of MWR, Kauffman represents the money. He became a co-owner of the team in Oct. 2007 at a time the organization was facing financial issues.
“If the team breaks even and is competitive, I’m happy,’’ Kauffman said. “I’m lucky enough that I don’t get my living from NASCAR, but it has to be commercially viable. That’s the parameters I work around.
“I’m generally not a quitter. I’m not a miracle worker, but I’m going to do my level best to power through this.’’
Kauffman said that he plans to remain in Charlotte until the situation is resolved.
As for what happened at Richmond, Kauffman said: “The team made mistakes. I think we’ve made a lot of progress at Michael Waltrip Racing the past seven years. It’s obviously a big setback. We’ve paid a heavy price. Now, I’m focused on what do we need to change to improve and field competitive cars and move forward.’’
Among NASCAR’s penalties for the Richmond race was the indefinite suspension of Ty Norris, the team’s general manager.
Asked about Norris’ status with the team, Kauffman said: “Hs status is that he’s a valuable member of Michael Waltrip Racing. I think that commenting on some specific person’s role in our organization is kind of inappropriate, but Ty has been a part of the organization since the beginning and remains having an integral role.’’
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Post by VAisforRacers on Oct 1, 2013 13:12:18 GMT -5
but it has to be commercially viable.
I guess that means it can only bleed money for a short time then has to even out?
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Post by pegbundy on Oct 1, 2013 22:47:52 GMT -5
but it has to be commercially viable. I guess that means it can only bleed money for a short time then has to even out? Think it means he ain't going broke for Mikey.
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Post by 221dayton on Oct 8, 2013 9:23:29 GMT -5
Lee Spencer FOX Sports Oct 7, 2013
KANSAS CITY, KAN.
Michael Waltrip Racing majority owner Rob Kauffman told FOXSports.com on Sunday he hopes to unveil the company’s reorganizational plan “relatively soon.”
The moves will come following MWR’s penalties for attempts to manipulate the outcome of the Richmond International Raceway race on Sept. 7 and the subsequent announcement from NAPA to pull its sponsorship from the No. 56 Toyota team.
Two weeks later, Waltrip offered driver Martin Truex Jr. the opportunity to test the market – but hoped there would be time to attract a new sponsor. Crew chief Chad Johnston has requested his release and it appears that some of the pieces are already coming together for the next stage of MWR.
“We’re working on an announcement,” Kauffman said. “I think it’s been a week since we last spoke, so we’re trying to get it all together. But we have a couple of good options. I think rather than use the word ‘release,’ I’d prefer to say allow guys to explore all their options – just as we’re exploring all of our options. Is that exactly negative? I think it’s the right thing to allow people to investigate all their options.
“A lot of these contracts have provisions that say ‘you can’t speak to anyone.’ So, technically, it’s a release, but it’s really more correct saying, ‘Look, there’s a challenge here. We want you to investigate all your options. Of course, we’re one and let’s stay in close communication.' I don’t think there’s anything negative around it at all. It’s just letting people figure it out.”
Kauffman said that he has been in touch with Truex and “it’s fine with us for them to continue to explore their options as well.”
Kauffman is concentrating on structuring the company in the best possible position to move forward. With Clint Bowyer still battling for the title and reaffirmed commitment from 5-hour Energy as well as long-time support of Aaron’s with the No. 55 team and Brian Vickers, Kauffman remains optimistic.
“We have a lot of positive stuff with the team,” Kauffman said. “We have a great group, great partners. We’ve suffered a challenge. We’ll dust ourselves off and move forward.
“I think I used the quote, ‘Ready, aim, fire.’ We’re still aiming, the target is a little clearer. Given the uncertainty — and people don’t like uncertainty — we’d like to have something sooner than later.”
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Post by goodgrief on Oct 8, 2013 13:07:34 GMT -5
MWR needed some adult supervision.
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Post by 221dayton on Oct 12, 2013 8:05:44 GMT -5
Mike Mulhern mikemulhern.net 10/12/13
Meanwhile the sport continues to await some word from Rob Kauffman about the Michael Waltrip Richmond controversy.
Kauffman, 49, is Waltrip's business partner, joining in late 2007. Kauffman's primary business is as a private equity investment manager, with his Fortress Investment Group, with some $17 billion (B) under management. Kauffman himself is listed by Forbes as one of the world's top billionaires.
Now comes word from people close to the situation that Kauffman may be planning to separate himself officially from Waltrip's racing operations and establish his own NASCAR team. Kauffman's pick for his driver, again, according to people familiar with it all, is Jeff Burton.
Burton says he's got a driving deal for 2014 but says he can't say anything more than that right now. Burton currently drives for Richard Childress' Chevy team; if Kauffman does do his own team, it would most like be with Toyota.
A spokesman for Waltrip and Kauffman says he is unfamiliar with such a Kauffman-Burton scenario.
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Post by eugene on Oct 12, 2013 9:49:24 GMT -5
Mike Mulhern mikemulhern.net 10/12/13 Meanwhile the sport continues to await some word from Rob Kauffman about the Michael Waltrip Richmond controversy. Kauffman, 49, is Waltrip's business partner, joining in late 2007. Kauffman's primary business is as a private equity investment manager, with his Fortress Investment Group, with some $17 billion (B) under management. Kauffman himself is listed by Forbes as one of the world's top billionaires. Now comes word from people close to the situation that Kauffman may be planning to separate himself officially from Waltrip's racing operations and establish his own NASCAR team. Kauffman's pick for his driver, again, according to people familiar with it all, is Jeff Burton. Burton says he's got a driving deal for 2014 but says he can't say anything more than that right now. Burton currently drives for Richard Childress' Chevy team; if Kauffman does do his own team, it would most like be with Toyota. A spokesman for Waltrip and Kauffman says he is unfamiliar with such a Kauffman-Burton scenario. Where did this come from? Doubt Michael Waltrip could run MWR on his own. He is more of a PR guy.
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Post by Chuck on Oct 12, 2013 15:53:16 GMT -5
Mike Mulhern mikemulhern.net 10/12/13 Meanwhile the sport continues to await some word from Rob Kauffman about the Michael Waltrip Richmond controversy. Kauffman, 49, is Waltrip's business partner, joining in late 2007. Kauffman's primary business is as a private equity investment manager, with his Fortress Investment Group, with some $17 billion (B) under management. Kauffman himself is listed by Forbes as one of the world's top billionaires. Now comes word from people close to the situation that Kauffman may be planning to separate himself officially from Waltrip's racing operations and establish his own NASCAR team. Kauffman's pick for his driver, again, according to people familiar with it all, is Jeff Burton. Burton says he's got a driving deal for 2014 but says he can't say anything more than that right now. Burton currently drives for Richard Childress' Chevy team; if Kauffman does do his own team, it would most like be with Toyota. A spokesman for Waltrip and Kauffman says he is unfamiliar with such a Kauffman-Burton scenario. Where did this come from? Doubt Michael Waltrip could run MWR on his own. He is more of a PR guy. No he is more of a girlie guy.
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Post by 221dayton on Oct 12, 2013 17:50:46 GMT -5
Mikey has been pretty quiet the last week or so. Maybe it could happen.
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Post by Exit 81 on Oct 14, 2013 18:00:28 GMT -5
No Dayton they did a couple press releases today and are just trimming down to two cars/teams and a part time test & research car. They gave walking papers to those they do not need for 2014
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Post by 221dayton on Oct 15, 2013 8:29:11 GMT -5
JENNA FRYER Associated Press 10/14/13
CONCORD, N.C. (AP) — Michael Waltrip Racing will run only two full-time cars next season because of the loss of sponsor NAPA, part of the fallout from its attempts to manipulate a race to get Martin Truex Jr. into the Chase.
Truex, crew chief Chad Johnston and 15 percent of the workforce were notified Monday they are free to negotiate with other teams. Team co-owner Rob Kauffman said the cuts were across the organization and not limited to Truex's team.
The car Truex drives will be repurposed into a research and development team next season. It will run a partial schedule beginning with the Daytona 500 with team co-owner Michael Waltrip behind the wheel depending on sponsorship, Waltrip said.
"Today was about doing what we had to do, not what we wanted to do," Kauffman said. "It was important to let those whose jobs were affected know as early as possible, and a majority of those will remain with MWR through the end of the season."
Truex has been talking to Furniture Row Racing about the seat being vacated by Kurt Busch. MWR is undecided if it will use Truex's No. 56 on the third car next season, and how many races the car enters will be based on sponsorship.
Also, Ty Norris' title position will change from general manager of MWR to executive director for business development. Norris has been on indefinite suspension from NASCAR for his role in the Richmond scandal.
"He will no longer be involved in competition and no longer be a spotter, and will focus strictly on the commercial side of the business," Kauffman said. "He's good at that and that's the skill set that's most helpful for the company. We have other folks on the competition side."
The meetings between Kauffman and Waltrip and their employees Monday were interrupted when driver Brian Vickers informed the owners that a blood clot had been found in his right calf. He was placed on blood-thinning medication that will prevent him from finishing the season in the No. 55 Toyota.
The team had previously planned to use co-owner Waltrip in this week's race at Talladega, and said it will decide later on its driver for the remaining four races.
Vickers was scheduled to participate in a Monday test at Charlotte Motor Speedway, but MWR had Brett Moffitt ready to drive.
It made for a dizzying and difficult day for MWR, which has been fighting for its survival since the Sept. 7 race at Richmond.
"We are taking the challenges we are faced with and trying to use them as a way to get better, and when you have to let some folks go and change direction, that upsets the apple cart and you feel for those folks," Waltrip said. "And then when Brian walks in this morning and tells you he has a health issue and the doctors won't let him race a car, I'm a race car driver and I just can't imagine a man at the prime of his career having to be faced with those challenges.
"So I think it's important to never, ever get into 'Why me?' That's not a very professional or positive way to look at things. I just like to use at is motivation to get better."
MWR went into Richmond with driver Clint Bowyer ranked second in the Sprint Cup standings and Truex on the bubble of making the 12-driver Chase for the Sprint Cup championship. But in the closing laps, as it became apparent Ryan Newman was going to snag the final spot in the Chase field, MWR schemed to get Truex the final berth.
It began when Bowyer deliberately spun to bring out a caution, setting in motion a chain of events that led to a widespread NASCAR investigation.
NASCAR fined MWR $300,000, suspended Norris indefinitely and replaced Truex in the Chase field with Newman, who was headed to the race win that would have given him the Chase berth before Bowyer's spin.
In punishing MWR, NASCAR ruled that the only thing it could prove was that Norris intentionally called Vickers down pit road in the closing laps to adjust the finish.
NAPA, a longtime partner of Waltrip's, then said it was pulling its multimillion-dollar sponsorship of Truex's team with two years remaining on its contract because it "believes in fair play and does not condone actions such as those that led to the penalties assessed by NASCAR."
As part of the changes announced Monday, MWR said executive vice president of competition Scott Miller will continue as crew chief of the No. 55 team into the 2014 season. He'd been interim crew chief since Rodney Childers was taken off the pit stand in August when he said he was moving to Stewart-Haas Racing next season.
Kauffman, who had been in Europe during the Richmond race and remained there for the two races that followed, returned after Bowyer sponsor 5-Hour Energy said it would return to the team in 2014. Kauffman temporarily relocated to North Carolina and began a review of MWR, which set in motion the organizational changes announced Monday.
"If you lose a third of a third of your revenue, you are going to have to reorganize your business and that's what we've done," Kauffman said. "What we are trying to focus on is using this opportunity to not only survive, but use this reorganization to make us better. We made a mistake, we paid a heavy price and we are adjusting to a new reality."
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Post by 221dayton on Oct 15, 2013 8:31:49 GMT -5
No Dayton they did a couple press releases today and are just trimming down to two cars/teams and a part time test & research car. They gave walking papers to those they do not need for 2014 Thanks exit81. Found the above this morning that has the whole thing mapped out.
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