GEM’s buyout of R. Gordon’s NASCAR team is off; GEM drops lawsuit
Advertisement
Text size: small | medium | large
Media General News Service
Published: September 19, 2008
DOVER, Del.—Gillett Evernham Motorsports reached an agreement with Robby Gordon Motorsports to drop plans to merge the teams. As part of the agreement, GEM dropped its breach-of-contract suit filed against Gordon on Aug. 25.
The merger terms had called for Gordon to sell his team at the end of this season for $23.5 million. The deal would have given Gordon a four-year driving contract with GEM, and possibly a seat on the team’s board of directors. GEM would have acquired Gordon’s shop and property in Charlotte.
Things went sour in part because Gordon complained in a television interview that his racing engines—supplied this year by GEM—were inferior to the engines GEM builds for its drivers.
Post a Comment
The commenting period has ended or commenting has been deactivated for this article.
Can't find what you're looking for? Try our quick search:
