Bobby Hillin Jr attempted to buy a stake in RCR<\/p>\n
Richard Childress Racing has been in business since 1969. They currently field two full-time cars in the NASCAR Cup Series driven by Kyle Busch and Austin Dillon.<\/p>\n
Dale Earnhardt won six of his seven NASCAR Cup Series championships with RCR (1986, 1987, 1990, 1991, 1993, 1994).<\/p>\n
Hendrick Motorsports lost $20M despite 2 NASCAR championships<\/a><\/p>\n In court it was revealed that New York based firm Chartwell Investments bought a 40% stake in the team back in 2003. And in the last 5-6 years, they have been attempting to sell their portion.<\/p>\n A group led by\u00a0former NASCAR driver Bobby Hillin Jr. was attempting to purchase a stake in the team.<\/p>\n The group was specifically interested in acquiring the Chartwell portion of the team. Though, Childress also noted that he was considering selling an additional portion of his 60% majority ownership in the team.<\/p>\n However, they were unable to stake a deal.<\/p>\n NASCAR President calls Richard Childress a redneck in latest court filings<\/a><\/p>\n Non-disclosure <\/p>\n This information surfaced in the 23XI Racing \/ Front Row Motorsports lawsuit against NASCAR. Childress testified that the team was under financial strain leading up to the charter negotiations.<\/p>\n The number of new details that have been surfacing in court have been endless.<\/p>\n The team owner noted that RCR could only turn profits with other portions attached to the business. For example, ECR, owned by RCR, supplies engines to many Chevrolet teams.<\/p>\n The most interesting part of this coming up is that these were private negotiations. Childress himself was surprised by the discussion surfacing in court.<\/p>\n \u201cI don\u2019t want to answer that,\u201d Childress initially stated before explaining how the deal feel through.<\/p>\n Both sides signed a non-disclosure agreement, hiding the financials of the team during the negotiations. The team owner was flustered that they surfaced.<\/p>\n Childress added, \u201cEvery bit of this has nothing to do with this.\u201d<\/p>\n They asked the Judge to force reveal the name that presented the information.<\/p>\n Richard Childress is considering legal action against NASCAR<\/a><\/p>\n Links<\/p>\n NASCAR<\/a>\u00a0|\u00a0Richard Childress Racing<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Bobby Hillin Jr attempted to buy a stake in RCR Richard Childress Racing has been in business since…\n","protected":false},"author":2,"featured_media":337912,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[446],"tags":[2074,148214,49,48,148215,3208,3140,2073,8127,634,3628,8354,10031,9536,82],"class_list":["post-337911","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nascar","tag-23xi-racing","tag-bobby-hillin-jr","tag-ca","tag-canada","tag-chartwell-investments","tag-court","tag-cup-series","tag-front-row-motorsports","tag-lawsuit","tag-nascar","tag-nascar-cup","tag-nascar-cup-series","tag-ncs","tag-richard-childress-racing","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/337911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=337911"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/337911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/337912"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=337911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=337911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=337911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}