#03 BGN team closing up/sold????

P

PettyBenson

Guest
jayski is reporting this:
#03 closing up? hearing the #03 Angelea Motorsports team [Mike McLaughlin driver, Harold Holly crew chief] is either closing up for some reason or may be bought out, no other info at this time.(1-27-2003)


This team is the Wired Flyer team that ran 2 races last year. At Homestead they ran 2 cars. This team seemed to be very well put together and had alot of big names with the team: Mike McLaughlin, Harold Holly, and some Yates guys. i post over at mike board which is alos Angela Motorsports message board(which is part of one of the sites that plays the trivia game) and nothing has been mentioned about this untill I posted it over there.
Just kinda confusing, i find it hard to belive that Jayski would report that without having a very good source, and was sure something this big was true.
 
BGNracing is now sayign that all the teams equipment has be repo'ed becasue the team has not paid its bills.
I wonder if the team will be able to get anything back together befor Daytona. If not then one of the contenders for the championship will more than likeyly not have a ride. Is there any good team out there looking for a driver? If this team goes under, we might have seen the last of Mike for a while. Thats a shame because he is a great driver
 
I know a couple of guys that went to work for that team.

If this is true,......... man, did they ever get screwed.

I hate that something like that happened. Mike didn't deserve that either.

Guido
 
Originally posted by buckaroo
I thought Holly was going to work for RCR.  Did that fall through, or just not pan out?
Click to expand...

CB,

I think that was just a rumor.

This has been a confusing silly season and I'm still trying to figure out who went where. It will be about March or April before I get it all straight in my head. :confused:

Guido
 
Well, if Holly is without a job now, I'll bet Childress just might talk to him. Teaming him with Green would seem like a good idea. Of course, I don't know if those two are getting along okay or not.
 
If this is true i wouldn't be surprised to see Mcglaughlin in a truck ride or back to the Featherlite tour.
 
That sucks for magic shoes. If i remember right he was fast in Daytona testing.

Wasn't Jim Kelley involed with this team?
 
No he was not. This team is Owned by a female named Angelea, and i think 2 other people. I have post on there message board and even since they announced that Miek was going to drive the team has been very hands on with the team. People from the team and Sponcer (WiredFlyer) including one of the head guys at AMS have posted and seem to be very nice. They were askign about mechindices items, car scheme ideas and they took anything the fans said under conideration. I was lookign forward to see this team run this year. I just wonder if Wired Flyer ever paid anything to the team(kinda like Lycos or Big Daddys deal from a few years back) and with the team being brand new and having to buy all new equpiment, they just did nto have money for it all. So the repo man came.

I am sadden to see this happen to this team AMS was going to be a great team. If this team does not continue from here it will be a sad day.
 
I just went to mikes site and they say saomething from BGNracing about Robert yates is the person who repoed the stuff. i know they bought(ok not bought) some of the 98 stuff.
 
OK new news!!!

This is not the sponsors fault this is the team owners who is at fault. There is some very dipleased people over at mikes board. Including the webmaster himself.
This was posted by STIX and tells all about the situation.

At 10:30PM EST I got off the phone with President and CEO of WiredFlyer Vacations, Rick Barton. He has authorized me to give out some official information on this situation. It is a total mess, but hopefully you will all understand this a bit more.

As some of you regulars know, I have known Rick since the announcement of the team forming in October. Rick even joined this forum, the official forum for Mike McLaughlin, along with Chris, the marketing director of WiredFlyer, and Tim, their President of Internet Technologies. From the start, the WiredFlyer gang was very supportive and seemed totally dedicated to the success of this team.

Rick and I became good freinds, and he ended up inviting me to the Phoenix and Homestead BGN races to watch the the debut of the WiredFlyer car run. They barely missed the show in Phoenix, but made the field in Homestead with two cars that ran strong until they both had their seperate problems.

In Phoenix and Homestead, I was privy to many "private" meetings between Rick and the owners of Angela's Motorsports, Angela and Gary. I knew of their plans and their deals, but of course I couldn't say anything publically.

Over the last few months, there have been issues that at this time I cannot discuss. But, basically this is the deal between Angela's Motorsports and WiredFlyer:

Angela's Motorsports was going to do a stock trade with WiredFlyer. Basically, from what the deal was, Angela's Motorsports was going to get stock and basically buy interest into WiredFlyer. In exchange for WiredFlyer giving stock, Angela's Motorsports was going to pay for everything ... and basically help sell vacation packages in return. It was a big business idea that went bad for one simple fact ... Angela's Motorsports wasn't paying the bills.

There are people that have been working at the shop that haven't been paid. Checks have bounced. And, things just basically went to crap.

When Rick came down here for the BGN preview, this is when everything came to head, and he found out about everything being screwed up financially. Rick at that time had meetings with key team people to try to figure out what was going on.

Since then, Rick has been busting his butt trying to figure out what to do to keep this group of people together.

If this all started going down during the BGN preview weekend, why did the team still go test? They had NO money to go test. Rick was the one that fronted that ... he sent a 5 figure check to the team because he felt it was very important for the team to go test while he find a solution. If it wasn't for that, the team would have never been in Daytona shaking down the car.

That brings us to today. I was called from one of my sources in the business that Yates went in and reposessed everything last night and Angela's Motorsports was gone. Of course, I started to check around and make calls. I tried to get Rick on the phone but he was in a meeting. Then it hit the wires ... Jayski and BGNRacing started the reports. It has now gotten ugly ... people know that the reason everything was reposessed was due to non-payment. I have seen people already point the finger at WiredFlyer.

The problem here was not WiredFlyer. It was a business deal that went bad because of the owners of Angela's Motorsports.

So, where is everything now?

As of THIS MOMENT (11:00PM EST), this is what is going on:

Angela's Motorsports is gone. Yates has recovered things from the shop since they were not paid for. Rick Barton, CEO of WiredFlyer is working HARD to try to get some deals going to keep the team intact ... Mike McLaughlin, Harold Holly, Clyde McClaod and the crew.... everything. Rick and Robert have been talking on the phone, and if it can be worked out, Rick will have the WiredFlyer Racing Team in full force for Daytona and beyond. There are some MAJOR things he is working on right now financially to do this. Things are real delicate right now, and hopefully we will have more answers in the morning or afternoon on Tuesday.

Rick is a member of the forums, but even so, he is really focused right now on getting this all squared away, so he cannot post right now. I offered to him to post on his behalf for him, and so the reason for this. He was thrown this major curve ball and was totally blindsided with this. He wants all of you to know he is doing EVERYTHING in his power to get everything reformed so the team can stick together, run and win Daytona, and go for the 2003 BGN championship. He knows that with Mike, Harold, Clyde and the other team members, they have a championship caliber team. He wants to see that though.

Rick thanks you for the support and understanding during this time. He is really upset about all of this, especially since he knows there have been people working hard at the shop getting everything ready for this year, only to have their checks bounce or not get paid. It is all pretty sickening, but he is trying to right someone else's wrong as he believes in this team.

This is what was told to me on the phone directly from Rick Barton, CEO of WiredFlyer, and again, he asked me to post on his behalf so that you all understand what is going on.

When I know more, I will post more. Thank you all for your understanding.
 
You must log in or register to reply here.
Back
Top Bottom