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Off The
Press

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P R E S S R E L E A S E
Note:
This press release may have been edited for formatting
purposes only |
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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.
The opinions expressed
on this site are not necessarily those of the publisher. All
comments other than website related problems need to be directed to
the author. Copyright 2000-2008 SpeedwayMedia.com.
Click here to
discuss this at our forum!
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