A Potential NASCAR “Bailout”
NASCAR Nation, along with jet-setting Big Three CEO’s, are abuzz with the word “bailout.” The Detroit CEO’s were in receipt of a political smackdown this week when they were told to get out of D.C. and told to come back with a plan - any plan - before cash was handed out.
NASCAR likewise has had the same buzz word populate blog posts, news articles and water cooler discussions as press release after press release is floated over head like the Sword of Damocles announcing another round of racing related layoffs.
NASCAR Bobbleheads have been mostly silent, save for the mostly meaningless “banning” of testing during the 2009 season.
I on the other hand have a plan. A NASCAR Bailout plan that leaves the Bobbleheads in Daytona and Charlotte to talk among themselves and pat each other on the back, something they are eminently qualified to do.
My plan rests solely on those that sign the paychecks and sorry to say now the pink slips - the team owners themselves - not all the them just those most able to pay.
But first a little quiz, how many of the following names do you recognize? Sunday Money, Mia Elise, Wheels, Reel Wheels and Goose Bumps.
Give up?
All are the names of very expensive and private yachts owned by current Sprint Cup team owners and were all docked in local Daytona Beach marinas during this years Speedweeks.
One could say the Sunday Money and Mia Elise have a common owner now, the two multi-million dollar yachts belong to Teresa Earnhardt and Chip Ganassi respectively.
Wheels, Reel Wheels and Goose Bumps all belong to Rick Hendrick. Reel Wheels alone cost upwards of $2.5 million, and it’s a “dingy” relatively speaking at only 67 feet in length, his flagship so to speak is the Wheels vessel and measures in at 124-feet.
Felix Sabates, who co-owns a piece of Chip Ganassi Racing, is also an avid yachtsman and one of the owners of custom yacht builder Trinity Yachts in New Orleans. Sabates in a 2005 Yachting Magazine article detailed the existence of a NASCAR Yacht Club.
As the author of the article suggests it comes as something of a surprise to learn that, “yes, there really is a NASCAR Yacht Club, and furthermore, it is arguably the world’s most exclusive.”
Now, far be it from me your bumbling humble corespondent to suggest NASCAR’s well-heeled give up all their luxuries but, during a time of hardship in the sport wouldn’t it be nice if some were - in keeping with the theme - drydocked and the cash dispersed and used as severance pay to those let go, if not as a way to keep more people on the job rather than the unemployment line?
P.S. Jeffy Gordon, that means you to, drydock or sell the 106-foot yacht “24 Karat”.
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Great idea Marc, so long as we don’t hear the significant other crying on television about how their world is coming to an end because they had to get rid of their yacht like the wife of a certain former Enron CEO did.
Wow, what a raving socialist you are Marc!!!!
Next thing — you’ll be suggesting that Rick Wagoner give up his private jet and drive one of those Chevy Volts he makes to Washington when he asks for welfare.
Sabates’ company, Trinity Yachts just delivered Rick Hendrick’s newest yacht last week which the name is also “Wheels”. Although you may have missed this, Sabates actually had two yachts in Daytona, the “Dorothy Ann” and the “Mia Elise”, Ganassi does not actually own a yacht. If you would like to see NASCAR’s largest yachts of all, check out Penske’s yacht called “DETROIT EAGLE” or Brian France’s yacht, “Turn One”. Did Sabates say something about a poor economy?
RH’s new yacht - http://www.superyachttimes.com/yachts/details/440/
Chevy Volt Doug… Please!
That thing is 3-5 years away and best estimates are it will cost 100 grand. Who’s gonna buy it other than the Rick Wagoners of the world. (assuming he’s not a errand-boy or golf caddy by that time)
That aside, it’s a stop-gap at best, it does nothing to cut the emissions from the power plants it takes to charge the thing when it sits idle.
Larry, yes I was aware of the Hendrick “fleet” at Daytona. They were moored at a separate marina than the rest during Speedweeks.
Yep, that’s the answer we’ve been looking for! The reason the economy is in the shitter is all the yachts team owner’s have accquired.
Racing news is at a premium these days but you give an entirely new meaning to “Silly Season” with this posting!
You’d be better off attacking the 15 million dollar plus annual salaries of the Detroit Dunderheds who’ve run our domestic auto industry right into the dumper.
Funny George, I didn’t see any refs to the economy in general, just as it applies to NASCAR and some of it well-heeled owners.
I forgot that NASCAR is a macro economy unto itself, without any reliance on the rest of the world. I guess all those layoffs you were referencing were just team owners extracting as much money out of the business to buy bigger and better watercraft.
George, if I wanted, or had the desire, to comment on the econ as a whole I would have and in fact have in other places.
But in a way you’re correct, it does *appear* as if team owners are trying to use their largess to “buy bigger and better watercraft.”
And that was my only point.
[...] it could mean everything and Hendrick and the rest of NASCAR’s “yachtsmen” will have to start running their fleets on recycled McDonald’s french fry [...]
Forgive my snarkiness, but I just can’t see what yachts owned by successful business people has to do with a general business decline.
Let’s see how many of those status symbols are still in the owner’s possession a year from now.
What about Jimmie Johnson’s 38 million dollars in race winnings over the last three years, not to mention his contract and endorsements? I predict many drivers will have their terms of employment radically changed as well yachts sailing into the repo man’s hands.
The entire series has been awash in cash for more years than you or I can remember, this will be their first radical economic belt tightening. I sincerely hope they emerge intact. Smaller albeit, but intact.
By the way, have a happy Thanksgiving if I fail to comment again before Thursday.
Thanks George, I’ll enjoy my monkey meat dinner Thursday.