I have been hearing today that there might be trouble over at Michael Waltrip Racing. It seems that they are laying people off, telling them that it is because of financial issues.
The team, which currently fields three Sprint Cup cars, the #00, the #44 and the #55, and one Nationwide Series car, the #99, has had a less than stellar two seasons. Currently, all three teams are in the Top 35 in owners points, but just barely. The #00, and #55 sit 33rd and 34th and the #44 is 28th.
This year Waltrip brought on a partner, Robert Kauffman, after suffering huge losses on renovations for his Cornelius, NC race shop and a bad 2007 season. Primary sponsor UPS is rumored to be pulling out of the team at the end of this season.
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on Jun 5th, 2008 at 8:03 pm
No offense to any MWR fans out there, but the first step for this team to get out of any financial trouble they’re in would be … well, contend for some races.
on Jun 9th, 2008 at 10:44 am
Reutimann is doing well in Nationwide and does contend there. He is a possible top 10 in every race now.
on Jun 9th, 2008 at 11:22 am
I certainly hope this is not true and the MWR can get their season turned around soon.
Yes, Reutiman is doing a great job.
on Jun 9th, 2008 at 11:47 am
to start 3 teams from scratch is an enormous burden. no suprise he’s in trouble. both waltrip brothers have always reached for the stars,usually overreaching themselves on occasion. however, nothing ventured,nothing gained. michael’s personality and gift of the gab will always keep him employed!! too bad the same can’t be said for those around him.
on Jun 9th, 2008 at 12:00 pm
They field the 55, not the 88. But yes, I am not surprised. MWR is a poor race team. They need to either drop the 44 and put Reutimann back in his own 00. Or drop the 55 because Waltrip is out of the top 35 in owners points.
on Jun 9th, 2008 at 2:54 pm
I am not a bit surprised at this announcement. Do some digging around in the NC Court Records and you will see some problems abounding for this organization, financially.
Even at the end of last season, I had heard he was having difficulty getting the “bills” paid, until Rob Kauffman might have flowed some much needed cash into MWR. I am sure Kauffman’s money was not a gift, as it is just another investment to him, with the design of getting some percentage back on his investment. I am sure his money came with some pretty stiff interest due, along the way. Surely not a gift, by any means!
The impending separation/divorce from Buffy is probably just adding more fuel to this eventual copy of what happened to Ginn Racing, last season.
I am hearing he got way over-extended with Racertainment, once he stepped into it, there was no backing out. He was using this “monstor” to lure sponsors onto the #44, #00 and his car, the #55.
I would not count on seeing any of these rides past Homestead, once the creditors come a calling, if they are not already in that position. UPS leaving is probably a given and I am sure NAPA is very tired of the stupid, non-performance ads it has to generate to cover for his lack of on-track performance. These “idiot”-mentality things only fly so far and so long.
Bye-Bye-POS!
on Jun 9th, 2008 at 3:00 pm
Perhaps they have gotten rid of higher paid individuals that have not earned their 6 figure paychecks??? Financial trouble??Maybe smart accounting…..
on Jun 9th, 2008 at 3:13 pm
What goes around, comes around. That what he get for messing with Yates Racing.
on Jun 9th, 2008 at 4:00 pm
Seams that the new management team has a, my way or the highway mentality. Don’t mess with something that is working. Reutimann is a great driver and has surrounded himself with a great team in Nationwide and also in Cup. In cup he has steadily made improvements in points. It was hard jumping from 00 to 44 when the 44 was way down on points. But he is there every race doing better than the current 00 & 55. Maybe it’s time to cut back on a team and focus on the successful teams to get better. More is not always better.
on Jun 9th, 2008 at 4:41 pm
The day of the owner – driver are over. Regardless of talent, no owner – driver has had success since the early 1990s. MWR and RGR continue with limited ability to compete for wins. While I wish it were not the case, multi car teams with a big bucks owner is the only way to go. Sure would like to see Morgan Sheppard get a top 5. It would also be nice to see a few race cars show up on trailers behind a pickup, but those days are long gone.
on Jun 9th, 2008 at 4:58 pm
Rob Kauffman’s net worth exceeds 4 billion, and yes thats with a “b.” I don’t think they are in any financial trouble. Yes the 55 runs like sh!t all the time and even as a long time MW fan I think he needs to step out of ther drivers seat. I don’t see his race teams folding though.
on Jun 9th, 2008 at 5:04 pm
Michael is clearly a charasmatic character, and has a place n NASCAR, however, he is not a race car driver!!
on Jun 9th, 2008 at 5:11 pm
Doesn’t surprise me, and surely most of Mikey’s money is going to Buffy in the divorce anyway.
on Jun 9th, 2008 at 5:39 pm
Really, starting rumors like this is just what I would expect from someone that was reaching for news. If this was true, why isn’t any other media outlet picking up on the story? I will believe it when an announcement is made by MWR that they are cutting back one of their teams. With the addition of their new sponsor on the #00 car, I would tend to believe all is not lost at MWR.
on Jun 9th, 2008 at 5:55 pm
I can’t understand how everyone thought that Michael Waltrip could field three teams in cup.
on Jun 9th, 2008 at 6:12 pm
Another thing that makes me doubt this rumor is that Toyota has selected MWR as their diversification team.
Michael Waltrip Racing and Toyota will offer a one-year apprenticeship for a minority to work on Waltrip’s cars.
The person selected will work in a technical position in North Carolina.
on Jun 9th, 2008 at 6:45 pm
I`m a Mikey fan,but he needs to get out of the car, and be an owner, I cant believe that NAPA has stayed with him as long ad they have! Love you Mikey, God Bless Bro.
on Jun 9th, 2008 at 6:55 pm
Lets not forget that MWR is half Rob Kauffman’s team with a net worth of 4 billion I don’t think there’s going to be a fire sale anytime soon over at MWR. Reutt’s not doing too bad this year in Cup and is showing pretty good in the Busch…errr Nationwide series. It’s a shame that UPS is probably gonna bolt, but that teams results simply arent good enough…..yet. I strongly believe that Reutt, Pemberton, and the 44 crew are going to be a solid top 15 team here within the next year.
on Jun 9th, 2008 at 7:53 pm
I’d like to see Michael make it however things don’t look very good. I think Ruetimann is doing a great job. M. is making MWR and NAPA look bad. May be time to put someone else in 55..he better make some changes fast or stand to lose
NAPA and Toyota.M. should find out why all the other Toyotas
are so much faster.
on Jun 9th, 2008 at 7:54 pm
mike needs to stop racing take care of his wife (since we have heard they are on the rocks) then they can make the team work , i have always heard she is the brains
on Jun 9th, 2008 at 8:12 pm
Think maybe they’re laying people off because they’re struggling and they want to get better? Or should they hang on to the people they’ve got and keep going in the same direction? MWR has brought in two investors (not just one), has not run a single race without sponsorship, has not missed a single race this season, yet suddenly they’re the ones with financial difficulties? I’d also like to see the announcement that UPS has decided to go elsewhere. UPS is sponsorship is through the end of this year… are sponsors not allowed to look around at the end of an agreement? Doesn’t mean they are going anywhere, just that they’re doing what all sponsors do — not such a bad thing. Oh yeah, and Michael was #3 most popular driver, behind Dale E Jr, and J Gordon… how many other drivers can claim that? Something tells me he’s not getting out of the car any time soon.
on Jun 9th, 2008 at 8:37 pm
Sell the team to Joe Gibbs. Problem solved.
on Jun 9th, 2008 at 9:16 pm
Not sure how true this is but yes I think they need to do away with one car but not the 55 or the 44. Michael Waltrip will come out of this OK he always does. It looks like Toyota has put everything in JGR and forgot about MWR. I guess if he folds his team Waltrip can go run for HMS and not win like Dale Jr hahaha
on Jun 10th, 2008 at 1:35 am
MW is the Goober Pyle of NASCAR. Amazing that someone would have trusted all this sponsorship money with them in the first place.
on Jun 10th, 2008 at 1:40 am
David is on the verge of being a great addition to NASCAR. Michael needs to get out of driving and run the business. He obviously can’t do both. McDowell seems to be making progress as well.
on Jun 10th, 2008 at 5:52 am
This is very disappointing to hear. I am a huge MWR fan, but also samrt enough to see that the results are not there. Other Toyota teams have had significant gains (Team Red Bull and JGR) while MWR seems to lag behind. Something is amiss. Not sure if it is driver (Michael, specifically) or organization.
on Jun 10th, 2008 at 6:01 am
Jeff Burton needs a sponsor for 2009. He is second in the points, made the Chase for two straight years and likely to make it this year, and Childress is known to take very good care of his sponsors. He is featured prominently in Holdiday Inn and ATT commericals and easily slide over and be driving the “Big Brown Truck” in commericals in 2009. UPS on the 31 car next year?
on Jun 10th, 2008 at 6:20 am
IMO,If you can prove court papers of financial problems and or a Divorce Then show us,otherwise shutup with the rumors and BS!
on Jun 10th, 2008 at 6:30 am
I’ll believe that UPS is leaving when I see a PR from the company themselves, I’ll believe MWR is having financial problems when they say so. It’s only on this site, which Jayski copied. So things may not look good, but this might not even be true….. It doesn’t add up at all. I’ll start believing when we see more.
on Jun 10th, 2008 at 7:33 am
I have heard that Buffy sold her share of the business to Rob Kaufman. That gives him majority ownership. Also heard that Mikey has no power in running the company anymore. He could not even get his nephew a part time summer job. Heard this from MWR employee.
on Jun 10th, 2008 at 7:58 am
Outside of the top four or five organizations, financial problems in Cup shouldn’t be a surprise to anyone.
Putting 3 cup teams together in a matter of months was an awesome feat. Even more impressive will be keeping it together and making it competitive.
DW’s decision to strike out on his own in the early 90s was a big mistake in his career and probably cost him 10 or even 20 more Cup wins. Did Mikey make an equally big mistake? We will probably know by Labor Day.
on Jun 10th, 2008 at 1:06 pm
I miss Dale Jarrett!!
on Jun 10th, 2008 at 1:34 pm
Mikey headed to divorce court? He could’nt even drive before this; how could he do so now? His self-promotions are catching up to him. Toyota has given them every chance in the world, and David is the only one who shows it. I bet he could be a really good RCR driver!
on Jun 10th, 2008 at 1:57 pm
This is on JAYSKI.COM
UPDATE: from a Michael Waltrip Racing PR – There is a rumor that reports MWR has fallen on tough times and may go away. Is that true? Waltrip says, “I fancy myself as being a friend to one of the Web sites that is reporting that. But I have to say that the rumor is probably one of the most ridiculous things I have read on the internet. We are probably on as good of footing financially as anyone in the garage area. We are focused on the future. When you are a new team, a lot of times there is turnover. There is reorganization. That is what is going on at MWR and will continue to happen until we hit our stride. We are not in any peril as being reported. We are very into what we are doing and what we need to do to be successful.”(MWR PR)(6-10-2008)
on Jun 11th, 2008 at 12:36 pm
Well I guess eveyone forgets the time the Hendricks, Childress’ et al were just startin out & they too ran like crap & more than likely the gloom & doomers were bringing out the shovels to bury them too. MRW is just starting to learn how to walk after crawling for the last 18 months.
on Jun 11th, 2008 at 1:07 pm
Some of you need to re-read the excellent rebuttal written yesterday to that PR-shill which came out from Motormouth Motorsports and think a little bit.
Rob Kauffman may just not be worth what he was worth last fall, before his hedge fund outfit went public. Fortress Investment Group (FIG) is his company. The stock started at around 30.00 and today was bid at around 13.15 this morning. Could we use the work……..”tanking”? Go look on YouTube and see what Cramer says about this shady outfit, in which Rob Kauffman part owns and runs!
He is invested in MWR, his money was far from a gift. Read the article, folk. A NASCAR team MAKES $$$ (profit) for its officers, drivers, investors, owners or it FOLDS! Remember Ginn, last season?
UPS or NAPA leaves and it is all over. Kauffman and Ken Butler can not afford to keep this outfit running without major sponsors. It is not like Yates, with a small-time operation over at Boris Said’s joint with probably 40 guys working, getting “rollers, getting paid and having Jack Roush’s brain-trust standing by, next door!
Go visit Racertainment and Motormouth Motorsports–this joint is huge and the overhead must be astronomical to keep this joint & team going, with a positive cash-flow, even with the once, deep pockets Kauffman, Harris and Wells, forking over the dough, like drunken sailors!
on Jun 12th, 2008 at 10:47 am
Michael Waltrip reminds me of a third rate cruise ship comic. He appears to have the same business prowess as well. He should drive the microphone and leave the NASCAR racing to the professionals. Thanks for the commercials….. However, once the cheating started I became an unfan.
on Jun 15th, 2008 at 6:19 am
Great post ddsb. Could’nt agree with you more!!
on Jul 9th, 2008 at 12:06 pm
I certainly hope michael waltrip does,nt read half the crap thats written in these posts, I have no idea how any of you call yourselves Nascar fan’s. Its people like him that are keeping the sport alive taken the next step from driving and taking a chance on fulfilling a dream and the dreams of the other drivers he employs. Its a huge commitment of time, hard work and all he gets from this site is a bunch of people still sitting around their kitchen tables or on their sofas complaining about something, they have no idea what it takes to accomplish. I know what its like to start something from the ground up and its alot of take two steps forward and take twenty steps back. I know in the long run you will all have to eat your words of negativity. While I sit back and smile knowing I had faith in him and his team when all you so-called Nascar fans could find time to do is bash and name call. You should all be ashamed of yourself for pulling his personal problems on the table it’s none of our business.