NO FEAR RACING ANNOUNCES MERGER WITH RICK CLARK MOTORSPORTS DAYTONA BEACH, Fla. (February, 12, 2009) -- Today, Rick Clark and Boris Said announced their merger between Rick Clark Motorsports (RCM) and No Fear Racing. The new organization, RCM...
NO FEAR RACING ANNOUNCES MERGER WITH RICK CLARK MOTORSPORTS
DAYTONA BEACH, Fla. (February, 12, 2009) -- Today, Rick Clark and Boris Said announced their merger between Rick Clark Motorsports (RCM) and No Fear Racing. The new organization, RCM No Fear Racing, will form a NASCAR Cup Series team with majority minority ownership.
Clark, an African American businessman who spent eight years in the NFL as an agent for several players, was lured to the appeal of NASCAR and the opportunity to create a multicultural approach to auto racing which focuses on America's youth by noted friend and ESPN lead broadcaster Dr. Jerry Punch.
The race team will create a platform from which other marketing programs will be launched to increase inclusion in the industry.
"We have several verticals that all work together to create a comprehensive program," said Clark. "Those verticals will not only work to encourage minorities to attend races, but to make NASCAR part of the various minority cultures to create a feeling of ownership in the sport among those groups.
"We have an urban-wear clothing line in the works called Krewe Wear with the tag line 'Who's in your Krewe?' The clothing line is one of several reasons why No Fear is such a good fit for us, as they are an established brand among 18 to 24- year-olds with a global distribution network.
"Additionally, Boris in not your 'cookie-cutter' driver. He has a wide appeal and will serve us well in developing young drivers who might not othe rwise have a shot in the sport. We fully appreciate the works of NASCAR's Drive 4 Diversity program and hope to enhance those efforts in addition to those of people like Brad Daugherty and Randy Moss, and look forward to working with both Marcus Jadotte, Max Siegel and others.
Said, with crew chief Frank Stoddard, will remain the driver of the No. 60 car and is expected to compete in 12-18 events in 2009, although competing in the No. 08 car this weekend through a prior commitment.
Among the events that the RCM No Fear Racing team expect to compete are restrictor plate and road course events where Said has had past success.
"It's no secret that our race team needed funding," explained Said. "However, if we were going to do anything, we felt like the partnership needed to make sense. Whe n Rick Clark came to us and outlined his program, there were so many synergies on and off the track that it just made sense for us.
"The business we will create taking on a clothing line of this magnitude makes the partnership a win-win from the get-go. I'm also involved in some of the diversity efforts already out there and that has always been important to me. But for me, being able to get back in the race car is what I'm really excited about."
Mobile marketing and an animated movie make up the other marketing verticals, and a foundation will be established to give back to minority communities in need. In addition to Clark, prominent Wall Street and emerging markets finance lawyer, Al Tindall, is a principal in the RCM No Fear Racing team.
Tindall is considered one of the most highly respected legal counselors in the area of project and public finance of our time and has worked on over $25 billion in deals by value in his distinguished career.
His international experience revolves around emerging markets work where he is involved in the development of funds, joint ventures and infrastructure projects throughout Africa, the Caribbean, Central and South America. He is also a fixture in the asset management, private equity and alternative investment space primarily representing governments as limited partners in making investments in funds. He has represented every major investment bank in the United States in public and project finance transactions.
"It is indeed an honor and a privilege for us to become part of NASCAR with its rich history and tradition, particularly in light of our investment," said Tindall. "Coming during two very significant events in our history; Black History Month and the historic election of President Barack Obama who is not only a personal friend but someone I can proudly call our 44th President of the United States of America.
"As a team, we not only look forward to making a positive contribution to NASCAR's continued proud legacy, we also recognize the broader opportunity here for us to inspire greater participation by a more diverse group of fans throughout this country and around the world.
"In addition, we view this investment in Rick Clark Motorsports and No Fear significant because it represents more than an investment in a race team. It represents an opportunity to show the world that with vision, commitment and hard work we can blend the best of the past of NASCAR with the hope of the future for this team, this sport and this country."