Robert I. Kauffman, president and a founding partner of Fortress Investment Group, has bought a 50 percent interest in Michael Waltrip Racing in the latest unusual coupling in NASCAR. Kauffman joined the Boston Red Sox owner John Henry, the Montreal Canadiens owner George N. Gillett Jr., and the Arizona Diamondbacks executives Jeff Moorad and Tom Garfinkel as newcomers to the Nextel Cup stock-car racing series this season. Waltrip will maintain managing control of the race team, which currently includes the drivers Dale Jarrett, David Reutimann and Waltrip.
Michael Waltrip Racing is still talking with sponsors Domino’s and Burger King, but right now it appears the two companies will not return as primary sponsors in 2008. The pair shared the primary sponsorship of David Reutimann’s No. 00 Toyota this season. Next year, Reutimann will drive the No. 00 in five races, then move to the No. 44 for the remainder of the Sprint Cup season. Reutimann will replace Dale Jarrett, who plans to run the Bud Shootout, the opening five races of the season then the all-star race in his final season.
In addition to Dale Jarrett’s Friday announcement of his retirement and limited schedule for 2008, Michael Waltrip Racing will also introduce David Reutimann as 2008 driver of the UPS Toyota plus MWR will also introduce their new owner/investor.
XM Radio reported that Dale Jarrett, Michael Waltrip Racing and Toyota were re-evaluating Jarrett’s future with the team and could release him outright or sending him to a different Toyota team, either a current team or one that could switch to Toyota next season. Unconfirmed reports continue to circulate about Waltrip refunding between $300,000 and $400,000 per missed race to his sponsor, NAPA Auto Parts, and about the unhappiness of Jarrett’s sponsor, UPS.
Two-time Cup champ, Terry Labonte is rumored to be running the No. 55 NAPA Toyota at the road course races at Infineon Raceway and at Watkins Glen in August for Michael Waltrip Racing. Labonte would have the past champions provisional to use and since he won his last championship in 1996, he would vault ahead of No. 21-Bill Elliott who win his championship in 1988, guaranteeing the No. 55 will make both races.
After missing 12 straight races, two-time Daytona 500 champion Michael Waltrip qualified 23rd Friday for Sunday’s race at Dover International Speedway. Waltrip, who hasn’t raced in Nextel Cup competition since the season-opening Daytona 500, hugged teammate Dale Jarrett, the former series champion in his first season with Michael Waltrip Racing, after qualifying and they shared a few words. Jarrett qualified 22nd. Embarrassed by an off-track incident where he fell asleep at the wheel and was charged with reckless driving and failing to report an accident, a cheating scandal that cost him his crew chief and the string of DNQs, this has been a miserable season for Waltrip and his No. 55 NAPA Toyota team.