Keselowski Says Truck Team Lost $1 Million

dpkimmel2001

dpkimmel2001

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If Keselowski is in such financial woes, just how do the other owners compete with so much less?

LAS VEGAS - Brad Keselowski says his NASCAR Camping Work Truck team lost $1 million this past season and admits he’s at his financial breaking point.

Keselowski revealed his team’s financial loss Tuesday while speaking at the Motorsports Marketing Forum sponsored by Street and Smith’s SportsBusiness Daily/Global/Journal. Keselowski said that his organization brings in between $7-$8 million in revenue a year and loses about $1 million a season.

“The role that I have as an owner in the Truck Series is not about the financials,’’ he said. “There’s a lot better investments.’’

read the rest here
 
Obviously , giving young drivers with potential a break , doesn't pay that well . :(
 
“If I ran the whole season I could bring in all the revenue to prop the program up. I feel like once you get over three races as a Cup driver in the Truck series you’ve kind of worn out your welcome.’’

I applaud his efforts and he is right. Kyle Bush has the same problem except he runs many races and many fans don't like it.
Brad's family went bankrupt trying to run Brad in trucks and all they accomplished was to get him out there so guys like Junior could see his abilities. At least he made enough driving for Roger to pay off all his families debts.
Harvick won championships with Hornaday and yet he lost money there as well. It looks like running Xfinity is your only chance at making money and even then you need the cup sponsors to kick in a bit or at least use the cup shop and personnel to subsidize the lower teams.
I think JGR is a great example. Roger Penske won't run a team unless it can support itself although he has sponsored a truck for Brad in the odd race.

I think this series is almost done.
 
The inability for NASCAR to increase purse money in relation to skyrocketing expenses everwhere else is the cause for this. No teams make profit in NASCAR bar Hendrick, Penske and maybe Stewart Haas without heavy heavy sponsorship income.

Does anyone know how much a Cup or Xfinity car cost now a days? I remember when NASCAR was at its financial peak in the mid 2000s a car cost less than 120-125k.
 
sounds like 3 race remark was jab at kybu. :D

$1 mill loss ? on books maybe . betcha kez netted more $$.....payed fewer taxes ....w/ truck team than w/o in big picture w/ cup earnings included. ??
plus kez dad / family on truck payroll.

delana harvick........never lost a dime on anything ! ha!
 
I knew a guy who ran a profitable business who claimed he lost money all the time, He discounted what he made in profit over what he could have made.
 
Outside of the restrictor plate races and the season finale at Homestead, the Truck Series managed to draw a full field only at Bristol, Iowa, Eldora, and Martinsville twice. Dover and Phoenix were next at 35 and 34 entries.

Hopefully someone at NASCAR takes the hint. The Truck Series shouldn't be all about developing HP and aero too. Going to a 32-truck maximum field is just avoiding the underlying issues.
 
"The fastest way to become a millionaire Nascar owner is to start out a billionaire" - One of the owner/drivers said it. Busch, Harv, Kes, I can't recall.
 
Bobw said:
I knew a guy who ran a profitable business who claimed he lost money all the time, He discounted what he made in profit over what he could have made.
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That's the economic principle of 'opportunity costs'. If you stick your money in the bank and make 0.08% interest, you're not making any where near as much as you could with in the stock market. The amount of money you didn't make by taking the second option is money you 'lost' by not taking advantage of a better opportunity. The concept applies to other activities too; consider how many times you've walked out of a movie grumbling about those two hours you'll never get back.
 
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And folks bash Kyle Busch for driving his own truck, its obviously a necessity to stay afloat and even then its a tough proposition
 
RCM88x said:
The inability for NASCAR to increase purse money in relation to skyrocketing expenses everwhere else is the cause for this. No teams make profit in NASCAR bar Hendrick, Penske and maybe Stewart Haas without heavy heavy sponsorship income.

Does anyone know how much a Cup or Xfinity car cost now a days? I remember when NASCAR was at its financial peak in the mid 2000s a car cost less than 120-125k.
Click to expand...

Do you really think they were that cheap? I would have thought by the late 90s the Cup cars were over $200k (assuming drive line is included in cost).

A quick way Nascar could cut expenses in the Truck series is reduce the number of crew over the wall and only one airgun.
 
Jonesi said:
Do you really think they were that cheap? I would have thought by the late 90s the Cup cars were over $200k (assuming drive line is included in cost).

A quick way Nascar could cut expenses in the Truck series is reduce the number of crew over the wall and only one airgun.
Click to expand...

Will I known for sure the ratio of car cost to average purse hasn't gotten better. Its definitely become much more difficult to run teams without sponsorship since 06/07.

Anyways, I did some research on this and found that Cup cars can cost between 300k and 1 million, this is pretty incredible seeing as they were all less than 175-190k back in 04/05, just 10 years ago.
 
Kyle18fan said:
And folks bash Kyle Busch for driving his own truck, its obviously a necessity to stay afloat and even then its a tough proposition
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I don't mind at all when a Cup driver drives "His Own Equipment" in the lower series.
Brad, Junior, Kyle, Harvick (at one time)
 
MRM said:
If you have seen the purses for the truck races, it's amazing there are still enough teams to keep the series going.
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Its pathetic to say the least and I worry that the series might fade away.
 
I wonder if they could look at some sort of subsidy or equalization payment program.

Lets say you're JGR or Penske and you've got a Cup regular driving in Xseries or Trucks. Perhaps half the prize money could go back to the series and be redistributed. If you have a series regular, then you keep all the prize money. Make it so these moonlighting teams are forced to reinvest in the series and not just their own programs and pockets. It might promote more driver development too.
 
3wideinturn1 said:
I wonder if they could look at some sort of subsidy or equalization payment program.

Lets say you're JGR or Penske and you've got a Cup regular driving in Xseries or Trucks. Perhaps half the prize money could go back to the series and be redistributed. If you have a series regular, then you keep all the prize money. Make it so these moonlighting teams are forced to reinvest in the series and not just their own programs and pockets. It might promote more driver development too.
Click to expand...

What about guys like Kyle Bush and Brad K who are already losing money with teams in those divisions, shouldn't as owners be able to keep all the money earned in a race??
 
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