Waltrip, Jasper form ownership company

Waltrip, Jasper form ownership company

Waltrip-Jasper Racing to field Waltrip's No. 55 Cup car
Team Release
January 20, 2006
05:29 PM EST (22:29 GMT)

MOORESVILLE, N.C. -- President and CEO of Michael Waltrip Racing, Inc., Michael Waltrip and president of Jasper, Doug Bawel, announced Friday they have formed Waltrip-Jasper Racing Company, LLC. Waltrip-Jasper Racing will field the No. 55 NAPA Auto Parts Dodge in the 2006 Nextel Cup Series, driven by Waltrip.

Bawel has been in racing for more than 15 years, previously as an owner of Penske-Jasper Racing Company's No. 77 Kodak Dodge. Bawel will serve on the Board of Directors and will be active in business management and sanctioning body relationships for the new company.

Bawel, as the listed owner of the No. 77 that he fielded with Roger Penske in 2005, has a guaranteed starting spot in the first five races of 2006 by virtue of finishing 34th in the 2005 owner points.

"I have been in the sport as a driver for 22 years and the logical progression for me was ownership at the highest level, the NASCAR Nextel Cup Series," Waltrip said. "This is such a big step, that I wanted to partner with someone who has intimate knowledge about ownership at this level. Doug Bawel and I have been friends for a number of years and I have always respected the way he handled himself in the garage and with NASCAR."

Bawel is just as happy about the partnership.

"I learned quickly that Michael is a goal-oriented person," Bawel stated. "When we began talking about the possibilities of teaming up, he started dialing the phone and making things happen immediately. He is a talented driver and a proven NASCAR Busch Series car owner, but most importantly as he moves into NASCAR's premier series, he is a man with a vision that likes to take ideas from paper to reality. I am delighted to lend my experience and management support to Waltrip-Jasper Racing."

Waltrip-Jasper Racing has contracted Bill Davis Racing, who Waltrip originally signed with to drive the No. 55 car, to be the source of cars, engines and personnel.

Additionally, Waltrip-Jasper Racing has created their own team of people. The foundation of Waltrip-Jasper Racing is sculpted with experienced people vested in NASCAR. Ty Norris, former EVP of Dale Earnhardt, Inc. will serve as the general manager overseeing the operation. Waltrip's long-time confidant, Bobby Kennedy will serve as the competition director and Larry Carter, a veteran crew chief, has also been contracted by Waltrip-Jasper Racing to be a part of the team.

"I know how intense this business is and I am prepared for the challenge," Waltrip said. "I am committed to being successful as an owner and I think the industry will recognize that when they see the caliber of personnel and sponsors I am bringing into this organization. But, there are a lot of days when I anticipate I will need my sense of humor, so I believe I will keep it."
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Bill's Comment: To me, this lays the foundation for the possibility of Toyota entering Nextel Cup in 2007, as has been speculated basically since Waltrip departed DEI. Time will tell.