According to numerous sources Red Bull, the energy drink company, will be withdrawing its support for its NASCAR team at the end of this year.
A highly placed Red Bull official, Thomas Ueberall, was reported to be at the race at Michigan International Speedway, for talks with team officials.
Apparently Jay Frye, the general manager, and other team principals are seeking to find other funding to keep the team ongoing.
The team issued the following statement on Monday afternoon: “Red Bull Racing Team is currently seeking outside investors as we evaluate next steps in the NASCAR Sprint Cup Series.
“We are not at liberty to comment on details while negotiations are under way. Red Bull fully supports NASCAR for the remainder of the 2011 season as we fight for victories and a position in the 2011 Chase for the Sprint Cup.”
Driver Kasey Kahne only had a one-year contract with the team and will be headed to Hendrick Motorsports. Brian Vickers’ contract ends this year.
Industry insiders suggest that Mark Martin, whose contract with Hendrick Motorsports ends this year could be one of those trying to find proper funding for the Mooresville, NC team to continue in the Sprint Cup series.
Red Bull Racing, which has raced Toyotas in the Sprint Cup Series since 2007, has one victory with Vickers as the driver.
A highly placed Red Bull official, Thomas Ueberall, was reported to be at the race at Michigan International Speedway, for talks with team officials.
Apparently Jay Frye, the general manager, and other team principals are seeking to find other funding to keep the team ongoing.
The team issued the following statement on Monday afternoon: “Red Bull Racing Team is currently seeking outside investors as we evaluate next steps in the NASCAR Sprint Cup Series.
“We are not at liberty to comment on details while negotiations are under way. Red Bull fully supports NASCAR for the remainder of the 2011 season as we fight for victories and a position in the 2011 Chase for the Sprint Cup.”
Driver Kasey Kahne only had a one-year contract with the team and will be headed to Hendrick Motorsports. Brian Vickers’ contract ends this year.
Industry insiders suggest that Mark Martin, whose contract with Hendrick Motorsports ends this year could be one of those trying to find proper funding for the Mooresville, NC team to continue in the Sprint Cup series.
Red Bull Racing, which has raced Toyotas in the Sprint Cup Series since 2007, has one victory with Vickers as the driver.