The Owner/Driver Question

[Hawaii808]

Used to be if you were an Owner/Driver, you scraped up the money and went into the racing business (Kulwiki, Both Waltrips, and many others). Then there were the drivers who joined a team and became owners (Jeff Gordon-HMS, Tony Stewart-SHR). There are even drivers we were surprised had minority owners stakes (Bubba-RPM).

Ownership can be substantial or small enough to be thought of as ceremonial. But what I want to know is, what were the terms? Cash paid to the previous owner. Ownership via "sweat equity". Or ownership in lieu of a portion of pay.

Anyone here with first (or hell second or even third) hand knowledge of these kind of agreements?

If only Allenbaba were here...

 

[Biggreen695]

Used to be if you were an Owner/Driver, you scraped up the money and went into the racing business (Kulwiki, Both Waltrips, and many others). Then there were the drivers who joined a team and became owners (Jeff Gordon-HMS, Tony Stewart-SHR). There are even drivers we were surprised had minority owners stakes (Bubba-RPM).

Ownership can be substantial or small enough to be thought of as ceremonial. But what I want to know is, what were the terms? Cash paid to the previous owner. Ownership via "sweat equity". Or ownership in lieu of a portion of pay.

Anyone here with first (or hell second or even third) hand knowledge of these kind of agreements?

If only Allenbaba were here...

Paging @Allenbaba


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[MRM]

From what I've read, Stewart did not pay one cent to Haas to form SHR. Not really sure how much stake he got in the deal.

 

[acmerocket]

From what I've read, Stewart did not pay one cent to Haas to form SHR. Not really sure how much stake he got in the deal.

50% free, that is how he hired harvick and gene hired kurt.with out asking the other.went from 2 to 4 cars overnite.

 

[wi_racefan]

Even if Smoke didn't pay a dime for his ownership stake I still think it's one of the best deals Gene has made. Going from a struggling team to 2 championships and however many wins.

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[Blaze]

Even if Smoke didn't pay a dime for his ownership stake I still think it's one of the best deals Gene has made. Going from a struggling team to 2 championships and however many wins.

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Yep pretty good deal for Tony, and Gene alike.