NASCAR insider claims Tony Stewart told SHR he doesn’t “have the money to run this place”
Tony Stewart and Gene Haas decision was a major shock for the NASCAR community.
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Tony Stewart (Via IMAGO)
To the shock of many in the NASCAR community, it was announced that Stewart Haas Racing will cease its operation at the end of the season. Team owners Tony Stewart and Gene Haas made the announcement to the public as well the team last season. There have been many theories that’s has come out on why SHR is closing.
Most of the rumors suggest that the Tony Stewart’s decision was because of the financial constraints they have been facing for a longtime. Ex-SHR driver Kevin Harvick even asserted that his exit from the team last year and the subsequent lost of sponsorship revenue led to them ceasing operations and now defending champion Ryan Blaney’s crew member have asserted that the rumors are true.
Ryan Flores revealed that Tony Stewart stood up Infront one everyone during the Wednesday meeting at SHR and said he doesn’t have any money to run the team. He asserted that Stewart candidly made the admission that SHR has ran out of money and has been running in the red over the years.
I think Tony stood up in front of everybody last week and said ‘Dude I don’t have the money to run this place.’ At that point in time when these guys are done spending the money on it, it’s done. I think he even said in the meeting pretty candidly to his guys like look, we’re running in the red. We’re not making money.Ryan Flores said via Stacking Pennies podcast.
Ryan Flores explains how the SHR ownership worked between Tony Stewart and Gene Haas
The No:12 Ford Mustang team member earlier explained how the ownership dynamic at SHR worked. He pointed out that Haas had always brough in the money to the team while Stewart was just bringing in talent to the team. The SHR equity was given to Stewart as a way to get him out of Joe Gibbs Racing.
Tony’s equity in the company was not funding, it was not money. It was always Gene’s money. His equity in the company was being the talent and winning races. That’s what they went and got him. Haas was spending the money, they just didn’t have the driver. And the only way to get somebody like Tony Stewart away from Joe Gibbs was to give him equity in the company.Ryan Flores said.
The explanation from Ryan Flores highlights that Gene Haas was too much involved finically in the NASCAR operations. As the team started having poor runs in the series, and the subsequent financial struggles might have made them make the tough call.
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Justin P Joy
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