Furniture Row Racing to cease operations after 2018 season

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Furniture Row Racing, the reigning Cup championship team, announced Tuesday it will cease operations after this season, citing a lack of necessary funding.

“I’ve always felt that we could be a competitive team and run for a championship even when it seemed like a pipe dream to many racing insiders,” car owner Barney Visser said in a statement. “But to be successful in any business you need to assemble the right people and make a strong commitment to succeed. We achieved what we set out to do and feel like we climbed Mount Everest. To continue with anything less than a competitive team would not be acceptable. It’s been one incredible ride.”

The announcement comes less than a month after car Visser issued a statement that “not fielding a team in 2019 is not an option and we have every intention of continuing to build on our success for years to come.”

The move also comes after primary sponsor 5-hour Energy announced in July that it would no longer remain in NASCAR after this season. 5-hour Energy is serving as co-primary sponsor of the team with Bass Pro Shops for 30 races this year. Furniture Row Racing was unable to find any income to replace what it would be losing.

“This is not good for anybody,” Visser said in a statement about closing the team down after this season. “The numbers just don’t add up. I would have to borrow money to continue as a competitive team and I’m not going to do that. This was obviously a painful decision to arrive at knowing how it will affect a number of quality and talented people.

“We’ve been aggressively seeking sponsorship to replace 5-hour ENERGY and to offset the rising costs of continuing a team alliance with Joe Gibbs Racing but haven’t had any success. I feel that it’s only proper to make the decision at this time to allow all team members to start seeking employment for next year. I strongly believe that all of our people have enhanced their careers by working at Furniture Row Racing.”

This announcement comes as Martin Truex Jr. is third in the points after winning his first series title last season.

Truex, who joined Furniture Row Racing in 2014 as the driver of the No. 78 car, said: “While I am saddened by today’s announcement, I totally understand the decision. Barney Visser, Joe Garone and the entire Furniture Row Racing team took me in while my career was in a bad place, and together we reached the pinnacle of the sport. I will forever be grateful to each and every one of them, and also to Furniture Row, Denver Mattress and the Visser family.

“But make no mistake this is not the immediate end. We still have unfinished business to attend to and that’s to give everything we have to successfully defend our Monster Energy NASCAR Cup Series championship. Right now that is foremost on my mind as it is with the entire team.”

With Furniture Row Racing leaving after this season, it will have a charter to sell. That will be among the more valuable charters. Cup charters guarantee a starting spot in each race but also a set amount of money per race. One portion of the team payments is based on performance in the past three years. Furniture Row Racing has made the playoffs each of the past two years and will again make the playoff this season.

Furniture Row Racing, based in Denver, Colorado, started its NASCAR program in 2005 as an Xfinity team before moving to Cup. The team made its Cup debut in Nov. 13, 2005 at Phoenix with Jerry Robertson. He started 43rd and finished 41st, completing 51 laps.

The team’s first Cup victory was by Regan Smith in the 2011 Southern 500 at Darlington Raceway. The team has since scored 17 more wins with Truex, including victories this season at Auto Club Speedway, Pocono Raceway, Sonoma Raceway and Kentucky Speedway. Furniture Row Racing has won 12 of the last 59 Cup races (16.9 percent).

Others who drove for Furniture Row Racing included Erik Jones, Kurt Busch, Kenny Wallace, Joe Nemechek and Jimmy Spencer.

“There are so many people I want to thank because without them winning a championship and being competitive would never have happened: Joe Gibbs Racing for our technical alliance, Toyota and TRD (Toyota Racing Development), Bass Pro Shops, 5-hour ENERGY, Auto-Owners Insurance, Furniture Row and Denver Mattress,” Visser said in a statement from the team.

“A heartfelt thank you to Joe Garone, Martin Truex Jr, Cole Pearn and all of our team members for their talent, dedication and sacrifices they made along the way. To the Furniture Row and Denver Mattress employees I want to express a special thank you for always having my back from the early years of our race team to our championship run.

“I also want to thank the fans, the Denver community, NASCAR, International Speedway Corporation (ISC), Speedway Motorsports Inc. (SMI) and independent track owners for providing and maintaining the venues that we compete at. A special tip of the hat to the media and to NASCAR’s broadcast partners – FOX, NBC, Motor Racing Network (MRN), Performance Racing Network (PRN) and SiriusXM Radio. We’ve always been treated fairly by members of the media and I appreciate their hard work in one of the most demanding schedules in major league sports.”

NASCAR issued a statement Tuesday: “NASCAR wishes the very best to Barney Visser and his family. Barney has been a successful owner and an amazing champion, and his presence will certainly be missed. We look forward to seeing Martin Truex Jr., Cole Pearn and the entire No. 78 team finish the 2018 season strong and competing for another championship. NASCAR will continue to work on growing the sport and working with the race teams on competitive and operational excellence. Much of those efforts have already been put in place, and will continue to be a focus.”

Car owner Joe Gibbs, whose team is aligned with Furniture Row Racing, said in a statement: “We have a great partnership with Barney and everyone at Furniture Row Racing. It’s unfortunate that they will not be continuing after this season and I know it was a difficult decision for them. They have accomplished so much and I know they would like nothing more than to win another championship this season.”

In a statement, Laura Pierce, General Manager for Motorsports, Toyota Motor North America (TMNA) said: “We want to thank Barney Visser, Joe Garone, Martin, Cole and everyone at Furniture Row Racing for a successful partnership over the past few years. The team’s dedication and hard work in the sport was instrumental to our racing family as they helped us win our first NASCAR Cup Series manufacturer’s championships as well as reach the pinnacle of the sport with last year’s championship. We look forward to continuing to work with the Furniture Row Racing team as they defend their championship in the upcoming playoffs.”

Dale Earnhardt Jr., Jimmie Johnson among athletes raising COVID-19 funds

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Seven-time Cup champion and NASCAR on NBC analyst Dale Earnhardt Jr. are among the athletes who have donated signed items as part of a fundraiser for the Center for Disaster Philanthropy’s COVID-19 Response Fund.

The Center for Disaster Philanthropy states it is the only full-time national resource dedicated to helping donors maximize their impact by making more intentional disaster-related giving decisions.

Johnson is offering signed race worn shoes for COVID-19 relief. Anyone who donates at least $25 will be entered to win the shoes. A winner will be selected at random at end of the fundraising period, which is May 1.

Earnhardt is offering signed skeleton racing gloves for COVID-19 relief. Anyone who donates at least $25 will be entered to win the gloves. A winner will be selected at random at end of the fundraising period, which is May 1.

The Center for Disaster Philanthropy’s COVID-19 Response Fund supports preparedness, containment, response and recovery activities for those affected and for the responders.

Other athletes who have donated items include Jack Nicklaus, Stephen Curry, Michael Phelps and Simone Biles.

 

 

Where Are They Now: Lake Speed still racing and ‘still bad to the bone’

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He may not have been born a Petty or Earnhardt, but there is one former NASCAR driver whose surname practically predestined his career path.

That person with the colorful moniker is Lake Speed.

“God’s got a sense of humor, that’s the first thing,” Speed laughed when asked about his unique surname in a recent call with NBC Sports. “Every time I make a new acquaintance, I have to explain that the name is real and that God gave it to me.

Lake Speed at Atlanta Motor Speedway in 1997. Credit: Darrell Ingham /Allsport

“My dad was one of seven Speed boys. There’s a lot of Speeds back from where we’re from. Sometimes it’s a blessing, sometimes it’s a curse. Sometimes you get ridiculed if you’re not running good because you’ve got the last name of Speed, but on the other side it’s looked at as unique, and I think it’s kind of helped make me stand out a little bit in a crowd.”

While the last of his 402 career NASCAR Cup starts came in 1998 at the age of 50, the 72-year-old Speed is still chasing checkered flags and living up to his last name.

When asked if he’ll ever retire, Speed chuckled, “I haven’t been able to find that in the Bible anywhere. I enjoy what I do, I like people and helping people, the interaction and all that is perfect for me. I just don’t see stopping.”

Speed began racing go-karts in his native Mississippi at the age of 12 before eventually finding his way into NASCAR Cup.

“Some people know I was a big-time go-karter for years, had a career, business and raced all over the world with karts before I ever came to NASCAR,” Speed told NBC Sports.

Since leaving NASCAR, Speed has come full circle, returning to his karting roots in 2001 and has become one of the more successful and prolific karting racers in the country.

Future NASCAR Cup driver Lake Speed poses with one of his racing karts when he was 15 years old. (Photo by ISC Images & Archives via Getty Images)

“After I left NASCAR, a former NASCAR safety official, Steve Peterson, was a go-karter for years and years,” Speed said. “He kept calling me and kept saying, ‘Lake, you’ve got to come out here to the kart track. I have a few cars and you can come out and play with us some.’

“I finally went out one day and I forgot how much fun this was. I told myself I’ve got to get me one of these. So I got a kart and started fooling around with one and eventually started racing again. I went big-time, messed around and won the national championship in karting road-racing in 2007. Between the karting, the real estate business and trying to raise a bunch of kids and grandkids, that’s pretty much what I’m doing.”

Speed’s day job is as a commercial real estate broker, a career path he began back in his college days.

But racing has always been his first true love, particularly karting. Speed won the International Karting Federation national championship six times before he came to NASCAR in 1980, and was the first American to win the World Karting Championship at LeMans, France in 1978, defeating a number of other aspiring racers including future three-time Formula One champion Ayrton Senna.

He remained the only American to win the world karting title in any class until 14-year-old Florida native Logan Sargeant did so in 2015.

Speed could have gone in any number of directions as a racer, but former Charlotte Motor Speedway President Humpy Wheeler convinced him to try NASCAR, finishing as runner-up to Jody Ridley as Rookie of the Year runner-up in 1980.

Speed would go on to record 16 top-five and 75 top-10 finishes in his Cup career, with a career-best points finish of 10th in 1985.

Lake Speed, winner of the 1988 TranSouth 500. (Photo by ISC Archives/CQ-Roll Call Group via Getty Images)

March 27 marked the 32nd anniversary of Speed’s only win of his Cup career, the TranSouth 500 at Darlington Raceway. He took the checkered flag by nearly 19 seconds over Alan Kulwicki, Davey Allison, Bill Elliott, Sterling Marlin and Mark Martin.

“It was more of a relief than anything,” said of winning. “I had really been close to winning a lot of races in my career up to that point and particularly that season, we had led (nearly) every race that season before that race.

“We had the whole field a lap down at one time (in another race) and still didn’t win the darn thing. So when I finally won at Darlington, it was like, ‘Gosh darn, finally, now we can finally get on with it.’

“That was great, but there were other highlight moments. I had cars that were more than capable of winning a race and had a mechanical failure, an accident or whatever that knocked you out.

“There were also the times we passed the heroes and we were always an underfunded and under-budgeted team. When you outran the big dogs, it didn’t matter whether we won the race or not, we took home a moral victory. We had a lot of moral victories. Only one was in the record books, but there was a whole lot more of them where we went home to the shop with our heads held high, knowing we had put the hurtin’ on ‘em.”

Speed still keeps up with NASCAR – and the fans still keep up with him.

“I can’t tell you how shocked I am, this far out, that I still get multiple cards, letters, model cars every week,” he said. “I’m autographing stuff and sending it out every week. It makes me feel good and gives me the opportunity to share my faith with people. I got saved in 1983 and it made a giant change in my life. I feel God gave me this platform to use, so I try to use it to honor him.

“People ask me all the time, ‘Do you miss it?’ Yeah, I miss it. I miss probably the most working in the shop with the guys, trying to build a better race car to outrun everyone else. I really love that challenge.

“I never went to work. It was always a pleasure and joy to work with guys and build strong relationships. People that have never been on a team that was working seven days a week for a goal, it’s just a different scenario than a ho-hum job that you’re going to just to make a check.

“I lived that life most of my life and when I got retired from NASCAR, all of a sudden I was in an office by myself. It was a shock. It took me several years to get over it. It was a tough, tough change. Karting really was a salvation for me, to get me going again to have something to do and the interaction with people.”

Lake Speed darts around a kart track April 5, 2006. Photo by Getty Images for NASCAR.

Speed didn’t mind being an underdog during much of his Cup career. But the real heroes to him were those who helped him throughout that nearly two full decades of NASCAR racing.

“I can’t really emphasize enough how important the crew guys are and were,” he said. “The relationships we built, we worked hours and hours together doing things and trying to accomplish stuff.

“In our case, being underfunded, when we got out ahead a lick, it was amazing to see these guys light up and the pride. When you see guys work real hard and they accomplish something together, it’s amazing. I still bump into one of those guys at least once a month and it’s like seeing a brother or sister that you haven’t seen in a while.”

Speed faced a number of tough competitors in his career but also became close friends with several, including Bobby Hillin Jr. and Darrell Waltrip.

Speed still lives and works out of the same compound he bought in 1985 in Kannapolis, North Carolina. His real estate office occupies part of his original race shop, while his karts have replaced the Cup cars that used to be worked on there as well.

Karting has helped keep Speed young. He enjoys mixing it up with drivers half or even two-thirds his age.

“Look at it this way: I started all this when I was about 12 years old and raced until I retired from NASCAR,” Speed said. “I sat around for two or three years until I got into karting and went right back to racing regularly again.

“It’s just something that’s been in my blood all along. I love working on ‘em, love the people, the camaraderie and the challenge. I always said that if I knew last year what I knew this year, I would have won all the races last year.”

Speed is also a big part of what has become somewhat of a seniors tour: vintage karting, which is composed mainly of drivers in their 50s and on up into their 80s.

“It’s like going to a high school reunion, but where everybody shows up with a go-kart, races, has a good time, tells a lot of stories and relives their childhood,” he said with a laugh. “It really is cool, it’s the greatest thing in the world. You go to a high school reunion and it’s kind of boring. This is not.”

When asked how successful he is in karts today, Speed laughed: “With the modern stuff, not so much. You’re racing against a bunch of guys whose average age is 22, there I’m kinda mid-pack.

“But with the vintage stuff, I’m still bad to the bone.”

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Virginia stay-at-home order puts Martinsville race in question

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Virginia Gov. Ralph Northam issued a stay-at-home order for residents of Virginia that begins Monday and extends through June 10 “unless amended or rescinded by further executive order.”

Such an order would impact the May 9 NASCAR Cup race at Martinsville Speedway. That race is scheduled to be the track’s first Cup night race.

The Virginia order prohibits “all public and private in-person gatherings of more than 10 individuals. … This includes parties, celebrations, religious and other social events, whether they occur indoor or outdoor.”

NASCAR issued a statement Monday:

“NASCAR is aware of the stay-at-home order issued for Virginia. We will continue discussions with public health officials and medical experts as we assess rescheduling options.”

NASCAR announced March 16 that it was postponing all events through May 3. Those races postponed are Bristol, Texas, Richmond, Talladega and Dover. Previously, the Atlanta and Miami weekends had been postponed.

Previously, Gov. Northam had issued a stay-at-home order from March 24 – April 23.

North Carolina will be under a stay at home directive beginning at 5 p.m. ET Monday. It is scheduled to last 30 days. The order impacts the NASCAR industry with most race teams being based in the state.

 

Report: Debut of Next Gen car to be delayed

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The Next Gen’s car debut will be delayed, according to a report by The Athletic.

The car is scheduled to run its first race in the 2021 Daytona 500, but the The Athletic stated that the date would be pushed back in the 2021 season. The Athletic reported that a decision is expected to be announced this week.

NASCAR did not issue a statement Monday. Series officials are having discussions with teams and suppliers to determine the impact associated with postponements and adjustments of NASCAR’s goals for the new car.

The Next Gen car is viewed as a long-term cost-savings measure for teams and will include common parts from vendors. The Athletic reported that the delay in bulk manufacturing of the chassis and other parts will lead to the delay in the debut of the Next Gen car in 2021.

NASCAR President Steve Phelps said last November that teams would take delivery of the car around this July. The COVID-19 pandemic has put that schedule in jeopardy. NASCAR has postponed Next Gen tests at Atlanta, Bristol and Dover. No makeup dates have been announced.

There remain two NASCAR Next Gen tests scheduled: June 2-3 at Charlotte and July 14-15 at Las Vegas. There are eight open tests and four organizational tests scheduled for between August and December. Phelps stated March 17 that NASCAR’s goal was to reschedule its postponed races before the playoffs begin Sept. 6 at Darlington Raceway. Doing so could mean doubleheader weekends and/or midweek races, which would further tax teams as they also look to build Next Gen cars for next season.

“Even working ahead and being prepared, I see a lot of sleepless nights in the near future,” Ryan Sparks, crew chief for Corey LaJoie at Go Fas Racing, told NBC Sports earlier this month.

Also, at 5 p.m. ET today, North Carolina’s 30-day stay-at-home order goes into effect and will impact many businesses, including NASCAR teams and vendors in the state.