DEI looking for a buyer? Menard going to Yates?

Sirius NASCAR Radio's Sirius Speedway is reporting today that Teresa Earnhardt has enlisted the services of Bear, Stearns and Company to find a buyer -- or at least a major financial investor -- for Dale Earnhardt, Inc. Bear Stearns is an investment bank, securities trading and brokerage firm based in New York City, and has been charged with finding a buyer for the entire operation. Barring that, Earnhardt is said to be interested in selling at least a minority interest in the team. DEI President of Global Operations Max Siegel declined to comment on the story when contacted earlier today.(Sirius NASCAR Radio's Sirius Speedway)

John Menard was very interest into buying into DEI and building a motor program a few years ago. Terese was not interest in bring anyone in.

Now if DEI is having a change of heart why not offer John Menard a piece of the company like he originally was interested in? Why is DEI now looking for a partner?

Maybe its because John is taking Paul and his $22 million dollar Sponsorship of the #15 car to a Yates car? Maybe Menard has rekindled a relationship that we all thought was gone when the Menard/Gordon/Yates deal feel threw.

There has been to speculation and a report on Jayski about the possibility of Menard moving his sponsorship to Yates.

We will see!

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Permalink Reply by Jan on July 7, 2008 at 11:14pm

Dale Sr & Teresa built the company together. She took marketing & driver name copyrighting where it had never existed before. It was Dale's choice to leave the entire company to Teresa in his will. I'm sure he didn't foresee many of the conflicts that have happened but never the less- that was his choice. Maybe because he wanted Jr to be his own man & learn to make it on his own, just as he had done. 10 years ago would anyone have foreseen Yates being an also ran, or Roush & Evernham needing capital outside of Nascar to remain competitive? There's been a major evolution over the past 5 years & with todays economy, it's just the beginning. All of this just makes it that much more amazing that Robby survives not just as an owner/ driver but also as a one car team.

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Permalink Reply by FlyHiFlyLo on July 9, 2008 at 4:21pm

I'm so sick of hearing about how she built it with Dale... Total fucking Bullshit...

He built it... she distroyed it... (with mike waltrips help)

What's left for the kids now????? I'm sure that's how Dale wanted it.

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Permalink Reply by Ms Gibby on July 8, 2008 at 1:24am

Oh God, not more bean counters taking over racing, please!!!!!!

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Permalink Reply by Turtle7 on July 8, 2008 at 10:35am

If Menard goes into this deal for DEI, it could mean Robby looses sponsorship for a couple more races.

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Permalink Reply by Keith on July 8, 2008 at 4:13pm

OH SNAP!
I hate it when a juicy rumor gets hammered. :S

UPDATE 2 reports refuted: Dale Earnhardt, Inc. is not for sale -- right now. DEI president Max Siegel on Tuesday refuted an Internet report that company owner Teresa Earnhardt had commissioned investment banking firm Bear, Stearns & Co., Inc. to locate a buyer or financial investment partner. "We have not engaged Bear, Stearns or Goldman Sachs or anyone else," Siegel said. "We are contacted all the time by outside firms about getting involved in the sport. We are not for sale right now. Nothing is imminent. Are we constantly weighing that as an option? Does that make sense? Quite frankly, we don't know," Siegel said. "Every team is looking for a way to bring in appropriate resources. Every single one. We haven't engaged anybody. People obviously approach us -- they're approaching everybody. We're looking to be around for a long time in future. We're feeling pretty damn good about where we're going, competition-wise." Siegel was forced to approach his driving corps with assurance that the team is currently not for sale. "I have assured them it's not true," Siegel said.(ESPN.com)(7-8-2008)

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Permalink Reply by Mario on July 8, 2008 at 4:41pm

I wonder if DEI is playing the Yates' Card. Deny, Deny, Deny, Deny, then the rumor becomes true.

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Permalink Reply by WJM on July 9, 2008 at 12:55am

"We are contacted all the time by outside firms about getting involved in the sport. We are not for sale right now. Nothing is imminent. Are we constantly weighing that as an option? Does that make sense? Quite frankly, we don't know," Siegel said.

I can understand DEI turning away investors in a bad economy where sponsorship dollars are drying up and teams are shutting down. Who wants the headache of trying to manage additional funding?