Kodak links 77 team's performance, decision to step back
By JIM UTTER
ThatsRacin.com Writer
Eastman Kodak Co. has asked Penske Racing South for a one-year hiatus of its primary sponsorship of the No. 77 Dodge to allow the organization "to field a more competitive team," a company spokesman confirmed Wednesday night.
"We have asked Penske to take a year off, come back to us with a plan to field a Nextel Cup program that is more competitive in 2007," said David Kassnoff, manager of communications and public relations for Eastman Kodak.
"Penske has three teams, two of which made the Chase for the Championship this season. So, you know the ingredients are there to be successful.
"We would like to see a similar competitive level from the No. 77."
Earlier Wednesday, multiple team sources confirmed financial reasons were the determining factor of Kodak's decision to abandon its primary sponsorship of the No. 77 in 2006.
Kassnoff says that is not the case.
"We have been a sponsor in NASCAR for nearly 20 years. We continue to like the sport and think our participation is good for us. We like being there," he said.
"Every year we evaluate our sponsorships to see how they work with our marketing objectives. There is simply less exposure for a team when it is finishing the season 33rd out of 43 cars (in points)."
However, Kodak reported a third-quarter loss of $1.03 billion, mostly due to a write-off of deferred tax breaks.
Several team members of the No. 77 have been reassigned to other jobs at Penske, while driver Travis Kvapil and crew chief Shane Wilson have been told they are free to explore other opportunities.
Kvapil, a rookie in 2005, had completed one year of a two-year contract with Penske. He ended the year 33rd in points, with two top-10 finishes and a career-best finish of seventh at Bristol, Tenn.
Penske will continue to operate the Nos. 2 and 12 Dodges in Cup with drivers Kurt Busch and Ryan Newman, respectively.
Kodak will remain an associate sponsor with the No. 2, a role it began two years ago.
Busch, Newman and newcomer Billy Wease will split time in Penske's NASCAR Busch Series entry, which will run 25 or so races in 2006, sources said.
Roy McCauley, who served as crew chief for the Busch car in 2005 and won six races with Newman as the driver is expected to move to Cup and serve as crew chief for Busch, sources said.
McCauley would replace Larry Carter, who spent the past two seasons with Rusty Wallace, who retired at the end of this season.
By JIM UTTER
ThatsRacin.com Writer
Eastman Kodak Co. has asked Penske Racing South for a one-year hiatus of its primary sponsorship of the No. 77 Dodge to allow the organization "to field a more competitive team," a company spokesman confirmed Wednesday night.
"We have asked Penske to take a year off, come back to us with a plan to field a Nextel Cup program that is more competitive in 2007," said David Kassnoff, manager of communications and public relations for Eastman Kodak.
"Penske has three teams, two of which made the Chase for the Championship this season. So, you know the ingredients are there to be successful.
"We would like to see a similar competitive level from the No. 77."
Earlier Wednesday, multiple team sources confirmed financial reasons were the determining factor of Kodak's decision to abandon its primary sponsorship of the No. 77 in 2006.
Kassnoff says that is not the case.
"We have been a sponsor in NASCAR for nearly 20 years. We continue to like the sport and think our participation is good for us. We like being there," he said.
"Every year we evaluate our sponsorships to see how they work with our marketing objectives. There is simply less exposure for a team when it is finishing the season 33rd out of 43 cars (in points)."
However, Kodak reported a third-quarter loss of $1.03 billion, mostly due to a write-off of deferred tax breaks.
Several team members of the No. 77 have been reassigned to other jobs at Penske, while driver Travis Kvapil and crew chief Shane Wilson have been told they are free to explore other opportunities.
Kvapil, a rookie in 2005, had completed one year of a two-year contract with Penske. He ended the year 33rd in points, with two top-10 finishes and a career-best finish of seventh at Bristol, Tenn.
Penske will continue to operate the Nos. 2 and 12 Dodges in Cup with drivers Kurt Busch and Ryan Newman, respectively.
Kodak will remain an associate sponsor with the No. 2, a role it began two years ago.
Busch, Newman and newcomer Billy Wease will split time in Penske's NASCAR Busch Series entry, which will run 25 or so races in 2006, sources said.
Roy McCauley, who served as crew chief for the Busch car in 2005 and won six races with Newman as the driver is expected to move to Cup and serve as crew chief for Busch, sources said.
McCauley would replace Larry Carter, who spent the past two seasons with Rusty Wallace, who retired at the end of this season.