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18th June 2009, 15:20 #1
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GM cuts extend to Sprint Cup teams
I was waiting for this other shoe to drop.
By how much, GM isn't saying.
“Chevrolet's involvement in racing is a sound business decision that translates directly into the sale of cars and trucks,” a GM spokesman said in a statement Wednesday. “It is essential, however, that we continue to look at every penny we spend as General Motors takes the necessary steps to become a leaner company with a significantly stronger balance sheet. While Chevy Racing is talking to its business partners about ways to reduce cost and maximize the return on investment, it is our policy to not talk about the details of business relationships with our partners.”
A top Sprint Cup team's budget reportedly is in the $20million-$25million range per year.
“We had very productive conversations this week with the folks at General Motors, and it's clear they are committed to racing and committed to our organization,” said Hendrick owner Rick Hendrick. “They've asked us for some help, and we're going to give it to them. We're proud to be a Chevy team, and we will do our part to support the new GM both on and off the race track.”
http://www.thatsracin.com/140/story/11971.html"You win some, lose some, and wreck some." - Dale Earnhardt
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