Germain Racing car owner Bob Germain announced Monday that he has sold the team’s charter and will end the team after this season.
The charter was purchased by a new team that will have Denny Hamlin and Michael Jordan as owners and Bubba Wallace as the driver.
Germain said in a statement that the No. 13 team will continue the rest of the season with Ty Dillon as driver.
“Being an owner in NASCAR for the last 16 years has been a thrilling and rewarding adventure,” Germain said in a statement. “From winning two NASCAR Truck Series championships in 2006 and 2010 to competing at the highest level of motorsports in the Cup Series for the last 12 seasons, I have experienced the highs and lows of our sport. I’m extremely proud of what Germain Racing has accomplished at every level and I will be transitioning out of ownership with many memories and friendships. I appreciate the interest and offers made over the last couple of weeks and I am excited to see how the sport continues to grow in the future.
“Thank you to GEICO for their loyalty to Germain Racing for over a decade. It has been a great source of pride for our team to represent their brand on the track. Doug Barnette with Player Management International has facilitated our GEICO relationship since the beginning and I truly appreciate his efforts. Finally, to my employees: building a team camaraderie and creating a family atmosphere has been a highlight of this journey. I will miss each of you.”
Germain pondered a sale when GEICO decided not to renew its contract after this season with the team. GEICO is one of NASCAR’s Premier Partners, joining Busch Beer, Coca-Cola and Xfinity.
Dillon spoke in late August about the challenges facing single-car teams in Cup.
“The model is very tough right now for single-car teams,” he said. “I’m hoping that NASCAR is going to change it and help on it. But it needs to change for one-car teams to be more successful that haven’t already been at the top level of the sport or have an incredible amount of money to leapfrog into the top spot. If you don’t have three or four teams to spread the wealth with big name sponsors and a lot of money behind the effort, it’s just not a model that’s going to survive long term.”
Hamlin acknowledged the challenge a one-car team can have.
“I do believe that the (ownership) model will hopefully get better,” Hamlin said before last weekend’s race at Bristol Motor Speedway. “Do I think it’s fixed? No, I think there is still some work to be done to make the model a viable business. You want a business that everyone wants to be a part of, not the ones that are fleeting. Certainly, I think NASCAR is trying it’s best to make the teams a little more healthy. I think that outlook toward the future is what’s interesting to me.”
Germain Racing is the second team to sell its charter since August. Leavine Family Racing announced it had sold its charter on Aug. 4. Spire Motorsports purchased it and will be a two-car team in 2021.