NASCAR’s “Minority” Ownership (Updated with Petty Podcast)
I bet you think this post is about you Randy Moss, and it damn sure isn’t about this couch-jumping celebretard.
Sorry to disappoint both Moss and Cruise, but this is about yet another in a long line of ownership/NASCAR scams as it relates to the points system and how that system locks in some teams at the start of each new season.
Until Thursday, it appeared that Brad Keselowski had an assured spot in the Daytona 500 and that Marcos Ambrose would be among those having to get in the field based on qualifying this Sunday or in the 150-mile heat races on Feb. 12.
Now the reverse is true.
The change came when NASCAR officials refused to allow what was formerly known as Ganassi Sabates Racing to transfer its owner points to Phoenix Racing for Keselowski’s use in the first five races. Rookie Keselowski is in Daytona Beach, Fla., for next weekend’s Nationwide Series race, and he planned to run the Daytona 500 through a cooperative effort with the new Chevrolet based Earnhardt Ganassi Racing.
You will also recall Bill Davis retained the points and rights to the #22 when his shop was shuttered then “transferred” them to the renamed Penske Championship Racing. That move locks in the #77 for Sam Hornish Jr.
Additionally, in a tale that never seems to end, RCR has suddenly appeared in the top 35 in owner points for Clint Bowyer with the #33 Chevy. Bobby Ginn owned car #01 that Regan Smith drove in partnership with DEI last year. With that number out of circulation this year, Childress made Ginn, umm, … an offer he couldn’t refuse and NASCAR approved the shift of the Ginn #01 points to Bowyer’s #33 this year.
Although reported in some circles as happening, NASCAR allegedly, supposedly, might not, “never-in-a-million-years,” allow teams to sell points outright, but it generally approves transfers to other teams if the original owner has a minimal ownership stake.
Color me puzzled.
Bewildered, nonplussed and discombobulated even, ’cause what I see is a distinction without a difference.
If Bill Davis sold his entire operation, as did Ginn by handing the reins over to what was then DEI, they were no longer an owner in the strictest sense of the word - actually any sense but I digress - and despite the tenuous grasp on the assigned numbers.
Now through the “good graces” of Penske and RCR they’re both listed as minority owners in their respective teams.
Admittedly I’m a pretty stupid guy but I have little doubt those little bits of ownership pie came at a price.
One of two things happened, 1) the two former owners transferred some kind of wealth for the points and the minority positions they now hold or, 2) Penske and RCR “bought” the points by giving both Davis and Ginn something of value, i.e. minority ownership.
As I said, it’s a distinction without a difference in my book, and it stinks to high Heaven.
(Davis, Ginn, call on line one. It’s the IRS. They would like a word with you.)
UPDATE: First a correction. The merger of DEI with Ginn allowed him to remain a minority owner in DEI. Not that charges the dynamic any, something of value was transferred to make the points switch.
Dustin Long asked Brian France (a/k/a People’s Commissar of NASCAR Affairs - PCNA), on the matter of points shifting, this is what he said:
“My feeling is it’s taking on a lot of different dimensions and we are looking at that carefully to make sure that the intention of the policy of what we started out with is where we ended up,” he said.“It’s fair to say with all the things that are going on around that, it’s still not quite settled yet going into Daytona. My sense of it is it would be nicer if it were more simple to understand the policy and sometimes we’ve announced something and we work on it. We’ll be looking at it as we go along.”
“Not quite settled yet going into Daytona,” so says PCNA.
TRANSLATION: “We looked at it, ignored it while kicking the can down the road, and well, simpletons don’t do simple.”
But your [not so] humble corespondent does. Don’t allow point swaps anytime, and under any conditions.
UPDATE: Below is a podcast of Richard Petty blasting NASCAR over this issue.
[...] what MARC over at Full Throttle wrote was something about this as well titled NASCAR’s “Minority” Ownership. Maybe he will help make more sense of it for [...]