NASCAR Fans E-mail List Parks and Earnhardt Steve Park will enter the ...
NASCAR Fans E-mail List
Parks and Earnhardt
Steve Park will enter the #14 Earnhardt owned car sponsored by Burger King in five Winston Cup events this season ( to maintain his 1998 rookie status). An Associated Press rumor also gives Jay Sauter three shots at driving the BK car at Phoenix and Richmond.
Penske Deal Complete
Penske now owns approximately 70% of NCMS. The action would seemingly bring an end to a bidding war waged by Penske and Speedway Motorsports which countered Penske with a much higher offer, as well as threats of a significant lawsuit. Speedway's principal, Chairman Bruton Smith, owns about 20% of NCMS shares and threatened a minority stockholder's suit alleging NCMS didn't act in the company's best interest. PMI proposed the merger of NCMS and PMI earlier this year at a meeting of the NCMS Board of Directors. In the merger, each stockholder of NCMS would receive, at his or her option, either $18.61 in cash per share of NCMS stock or that number of shares of PMI stock equal to $18.61 multiplied by the shares of NCMS stock held, divided by $30.00 (approximately 6/10ths of a share of PMI for each share of NCMS according to a Penske release).
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