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Foster Gillett? Please, Not Again
Mar 31st, 2011 by Journo

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Bob Margolis tweeted yesterday:

If only it was. Unfortunately, NASCAR confirmed yesterday Raikkonen had requested and received approval to run the truck race at Charlotte. The word from multiple news organizations is that he’ll run for the new ICE1 Racing Team. The “majority partner” in this new team? Foster Gillett – former RPM chief and spawn of George.

Welcome back to NASCAR Foster … if you couldn’t tell, we didn’t miss you.

This marriage wasn’t completely surprising – in the midst of his team going up in flames at the end of last season Gillett was seen at Homestead parading Raikkonen around the RPM haulers and the garage. The ego and lack of self-awareness that apparently accompany Gillett is galling.

Remember this is the guy who, with his father, almost cost hundreds of people their job and almost forced Richard Petty out of the sport – all just a few short months ago. Turns out it’s not such a good idea to leverage a less than profitable sports team to the hilt (let us not forget Gillett did this same thing with Liverpool FC). In the annals of NASCAR history, the Gillett’s are just below Bobby Ginn. Needless to say their reputation is less than spectacular.

Disgruntled former Gillett partner Ray Evernham agrees. He told Sirius Speedway’s Dave Moody:

“I honestly can’t believe it will happen… I can’t see how (the team) will be able to get parts and pieces. I can’t imagine anyone doing business with (Gillett), considering the past history… That’s just my opinion, but the facts are there. There are a lot of people out there who are still owed a lot of money. It’s a joke.”

Money up front perhaps? I figure if Kevin Conway can keep finding rides, someone will sell Foster Gillett equipment. As unfortunate as it is, I suspect we’ll see a Kimi Raikkonen driven, Foster Gillett owned truck in the not too distant future.

Don’t get me wrong, I’ve got no beef with Kimi Raikkonen coming to NASCAR – the more the merrier. Unfortunately, with the memory of last season all too fresh, it’s a different story with Foster Gillett. As the old adage goes, fool me once, shame on you; fool me twice, shame on me.

All I can say is, truly, absolutely, stunningly, unbelievable. An April Fools joke indeed.

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Well That’s Kind of Uncomfortable
Oct 19th, 2010 by Journo

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Two weeks ago New England Sports Ventures (NESV) agreed to purchase the Premier League Football club, Liverpool. The deal was facilitated through a vote by the team’s board which ousted the team’s current ownership in a forced sale. The soccer club, one of the most successful in league history, has been mired in recent years under crushing debt and abysmal performance. The fans, the banks, and the board had had enough.

So you’re probably asking what soccer, and more specifically Liverpool, have to do with NASCAR? Well, not a whole lot, except the two share past and present owners – George Gillett and John Henry.

NESV, if you’re unfamiliar, is a sports investment company principally owned by billionaire John Henry. Among the company’s assets are the Boston Red Sox, Fenway Park and half of Roush Fenway Racing.

The guys unceremoniously booted out of Anfield are Tom Hicks, the former owner of the Texas Rangers and current owner of the Dallas Stars, and George Gillett, the former owner of the Montreal Canadiens and current owner of Richard Petty Motorsports.

Hicks (who by the way has been in the news this year because of the bankruptcy and subsequent takeover and sale of his Texas Rangers) and Gillett sought an injunction in the sale of Liverpool. The High Court in London turned down the pair and a Texas judge, after briefly granting an injunction, allowed the sale to move forward. Hicks and Gillett have threatened a billion dollar lawsuit – they have backed off this some though.

What makes this particularly uncomfortable in NASCAR is the close partnership Gillett’s Richard Petty Motorsports has with Henry’s Roush Fenway Racing. The two share equipment, drivers, and a compound in Concord, NC. Now John Henry isn’t exactly a fixture in North Carolina, but you can imagine, with Gillett and Hicks likely to lose A LOT of money, where this might be less than ideal.

You can amp up the uncomfortableness should Gillett and Hicks decide to do file a lawsuit against those involved in the sale, including Henry’s NESV.

In all honesty, I don’t think the business relationship of RPM and RFR is any worse for the wear, but it’s still an interesting story. Just think, if you’re Foster Gillett, George Gillett’s son and the managing partner of RPM, what happens if you have to deal with the Fenway Sports Group, NESV or John Henry himself?

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