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Gillett Evernham Motorsports and Robby Gordon Motorsports Terminate Merger Plan

Friday September 19, 2008

 

Robby Gordon Motorsports and Gillett Evernham Motorsports today announced that they have agreed on terms for the resolution of the issues growing out of their former plan to merge the two teams.

Disagreements over the merger led to the recent filing of a lawsuit to have the court determine the parties’ rights under the merger agreement. As part of the resolution, the lawsuit will be dismissed and the merger will not proceed.

Management personnel for the two teams acknowledge that there were
misunderstandings, but both sides acted in good faith throughout, and in the end it was circumstances beyond their control that caused the merger not to proceed.

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This report was provided by an outside PR source and posted by Kim DeHaven.

 

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