Home / News / NASCAR News Recap for November 18, 2008

NASCAR News Recap for November 18, 2008

Team Layoffs Continue

The 2008 season is now over, and the economic crisis is beginning to come down on race teams in the Sprint Cup Series. Already, DEI (as a result of the merger between DEI and CGRFS) and Hendrick Motorsports, in addition to JR Motorsports in the Nationwide Series, have announced staff layoffs in an attempt to save money.

Today, news has surfaced that Stewart-Haas Racing (formerly Haas CNC Racing), Yates Racing, Hall of Fame Racing, Petty Enterprises and the Wood Brothers have all laid off varying numbers of employees in a scramble essentially for survival. Look for this to continue.

Fitz Motorsports May Not Continue in 2009

SceneDaily.com is reporting that Fitz Motorsports team owner Armando Fitz is seriously considering shuttering the team for next season.

“I really never thought I could have a year worse than what I had in ’05,” Fitz said. In 2005, both of Fitz’s parents died within six months of each other. “This year has been right there.”

During this past season, Fitz was sued by former drivers Joel Kauffman and Mike Bliss, which resulted in seizures of team equipment for auction on both occasions.

Fitz Motorsports reportedly owes money to certain vendors and has discussed selling a share of the team. Of course, any potential investors in the team would have to be made aware of monies owed to individual vendors (parts, shop equipment, etc.).

On the sponsorship front, Fitz’s No. 22 has backing for only 15 of the 35 scheduled races for next season.

Support Frontstretch on Patreon

About Phil Allaway

Phil Allaway
Phil Allaway has three primary roles at Frontstretch. He's the manager of the site's FREE e-mail newsletter that publishes Monday-Friday and occasionally on weekends. He keeps TV broadcasters honest with weekly editions of Couch Potato Tuesday and serves as the site's Sports Car racing editor. Outside of Frontstretch, Phil is the press officer for Lebanon Valley Speedway in West Lebanon, N.Y. He covers all the action on the high-banked dirt track from regular DIRTcar Modified racing to occasional visits from touring series such as Tony Stewart's Arctic Cat All Star Circuit of Champions.

Check Also

Matt Mills, Vinnie Miller Returning to BJ McLeod Motorsports in 2020

Away from the racetrack, Matt Mills and Vinnie Miller are best friends. On the racetrack, …