Hendrick expected, readied for GM cuts
Sunday, Jun. 21, 2009
Hendrick Motorsports wasn't spared from General Motors' funding cuts earlier this week, but team owner Rick Hendrick said he was prepared for the reductions.
GM cut all funding to its Nationwide and Truck Series teams, and it reduced its support of Sprint Cup Series teams as the manufacturer restructures under Chapter 11 bankruptcy protection. Both Richard Childress Racing and Stewart-Haas Racing have acknowledged funding was reduced to its programs in meetings with GM earlier this week.
Hendrick had the same meeting, but had already made changes to his four-car organization in preparation for the cuts.
"I've been kind of, for a year or better, thinking that this could happen," Hendrick said. "We've been trying to address things and do things a little bit differently. We've been trying to cover our bases for about a year. Everybody is having to make adjustments, but it's not going to change the way we race or how we show up on the race track.
"I've been telling our guys the only way I could see GM surviving long-term was to go into bankruptcy. I've been saying that for over a year, so we've been kind of expecting it."
Hendrick is also in a unique position of potentially replacing the money through his leasing programs with other race teams. SHR buys cars and leases engines from Hendrick, and Stewart has said he's considering adding a third team next season - which would give Hendrick even more business.
Another potential partner is Red Bull Racing, which is considering leaving Toyota for Chevrolet next season. If the team does switch, it would likely lease motors from Hendrick. Red Bull general manager Jay Frye had a similar arrangement when he ran now-defunct Ginn Racing.
"I'm going to stop racing and build cars and sell motors," joked Hendrick. "You don't turn down any business these days. Probably what I'll see, we'll convert some of the other programs if it comes to pass.
"We've worked with Jay Frye for so many years, and Tony and them, that's a seamless deal for us."
The Charlotte Observer is pleased to be able to offer its users the opportunity to make comments and hold conversations online. However, the interactive nature of the internet makes it impracticable for our staff to monitor each and every posting.
Since charlotteobserver.com does not control user submitted statements, we cannot promise that readers will not occasionally find offensive or inaccurate comments posted on our website. In addition, we remind anyone interested in making an online comment that responsibility for statements posted lies with the person submitting the comment, not The Charlotte Observer.
If you find a comment offensive, clicking on the exclamation icon will flag the comment for review by the administrators, we are counting on the good judgment of all our readers to help us.
@Nyx.CommentBody@