BAM Racing loses sponsorship, cuts back Cup schedule
Quote selected text Published April 15th, 2008 in NASCAR News
Open letter from BAM Racing owner, Beth Ann Morgenthau: “Our recent switch to Toyota is a strong testament to our focus and commitment to become more competitive. Even though we were disappointed it became necessary to miss two races to complete the transition to Toyota. We were excited about the potential for the balance of the 2008 season. That excitement was abruptly interrupted this past week by news that a primary sponsorship deal once planned for the majority of the 2008 season had been reduced to a fraction of a season and that fraction will likely be in the fall.
The private company has been in the process of raising funds in the equity market for working capital which included a portion going to a product launch using the #49 race car. Due to the uncertainty of the stock market raising the capital is taking longer than expected. With no other primary sponsor currently in place to fill the void the harsh reality of this most recent news is that we are forced to reduce our 2008 participation to a partial season.
Our marketing groups are working hard to fill the sponsorship void so we can get back on the track sooner than later. When new primary sponsorship is secured you will be one of the first to know! It is of little consolation that we are not alone in this plight. The uncertain economic times affecting our sponsor are affecting sponsorships throughout NASCAR and are having a winnowing affect on the number of teams showing up each week to compete. We’re confident that with the decreasing numbers of teams, with the competitive cars we produce and with the horsepower Toyota engines provide, we will be able to step back into competition effectively and successfully on short notice–and we are making every effort to make our sabbatical as short as possible.
[BAM Racing]
- Roush Waiting on National Guard to Continue Sponsorship
- Gordon says he’ll enter the Indy 500 if he loses his NASCAR appeal
- Report: Ganassi to make more job cuts
- Dale Earnhardt Jr. Stars in Upcoming Episode of SPEED Reality Series ‘Payback’
- Tony Stewart cuts his hair
I really wish they would just give up and pack it in for good! Even when they had a sponsor on the hood, BAM is a second-rate team (at best) and just another field filler. Let Schrader go try to find a ride that might be able to bring to the track week in and week out!
Schrader is never going to find a good team to go too, because he is no longer that good of a Cup driver.
I just think its weird that Microsoft would pull back sponsorship because they don’t have enough money.
Fisha… That’s why I said let him find a ride that would be able to show up every week… Not necessarily a good team, but one that can at least make an attempt every week! I don’t think he’s that good of a cup driver anymore, either, but he can still make races when they give him a ride.
This is just a guess, but maybe Microsoft was embarassed to have announced the sponsorship deal with BAM, only to see the car off the track the next two weeks (with an off week to follow). Not exactly the big splash they were looking for when they agreed to sponsor ateam.
I feel badly for Schrader. Yeah, his best days as a driver are long gone, and he never fulfilled his early promise, but he’s a good guy and doesn’t serve stuff like this.
LETS FACE IT,MICROSOFT DID THEIR HOMEWORK.THEY WILL NOT GET THE BANG FROM THEIR BUCK ANYMORE.I BELIEVE THE TV RATINGS ARE BEING INFLUENCED BY THE DAYTONA HYPSTERS AND WE ARE NOT GETTING A REAL TRUE PICTURE.TAKE A POLL OF YOUR FRIENDS AND SEE HOW MANY ARE WATCHING THIS SHOW ANYMORE,AS COMPARED TO A FEW YEARS AGO.BEFORE YEAR END I AM SURE THERE WILL BE MORE SPONSORS LEAVING.
BAM should become the official minority. diversity team for NASCAR. Then they could get money fom numerous organizations that want to be politically correct in NASCAR. Being competitive is something BAM never was or will be. I think it would be a good fit.