Roush Racing And Fenway Sports Group Partner To Form Roush Fenway Racing DAYTONA BEACH, Fla., (February 14, 2007) -- Today, during Speedweeks in Daytona Beach, Fla., Roush Racing and Fenway Sports Group (FSG) announced the formation of Roush ...
Roush Racing And Fenway Sports Group Partner To Form Roush Fenway Racing
DAYTONA BEACH, Fla., (February 14, 2007) -- Today, during Speedweeks in Daytona Beach, Fla., Roush Racing and Fenway Sports Group (FSG) announced the formation of Roush Fenway Racing. Under the agreement, FSG will purchase 50 percent of Roush Racing to form the new entity. Jack Roush will continue to manage the competitive operations of the race teams and Geoff Smith will continue as president to oversee business activities. FSG will support Roush Fenway Racing's marketing and sales activities by using their experience, network of relationships, and powerful demographic base to add value to Roush Fenway Racing sponsors and help Roush Fenway Racing maintain an unsurpassed position among NASCAR teams on and off the track.
"This partnership will bring a whole new perspective to our business," said Jack Roush. "There is a lot of hard work that goes into being successful in sport. John Henry and FSG understand what it takes. Anybody that has watched the Red Sox has been impressed with their tenacity and their ability to prevail after all the frustration. To be able to have someone to bounce ideas and strategies off of will be fun. Everyone at Roush Racing is excited to welcome our new partner and we look forward to our success together."
"This is an unprecedented partnership of two extremely successful organizations with proven track records for winning in their respective businesses and sports," said Mike Dee, chief operating officer of the Boston Red Sox and president of Fenway Sports Group. "We believe in NASCAR and like its long-term business future and are thrilled to be a part of this exciting and growing industry."
Over the last 35 years, Roush Racing has become one of the most successful teams in motorsports. Having won 30 championships and more than 300 races in drag racing, sports car racing and NASCAR, the team looks to continue its winning tradition under the new name. The new Roush Fenway Racing logo will make its track debut at Daytona International Speedway beginning Thursday, February 15 during the Gatorade 150 qualifying races. All of Roush Fenway Racing's 13 teams will be competing throughout the weekend.
Off the track, the Roush Fenway Racing focus will be to continue to service its world-class sponsorship base which includes such great companies as; DeWalt Power Tools, Diageo (Crown Royal), AAA, Office Depot, Ameriquest Mortgage Company, 3M, Ford Motor Company, Northern Tool + Equipment, Dish Network, Discount Tire and Coca Cola, whose sponsorships Roush supports with public relations, licensing, event marketing and account management services.
Geoff Smith summed up the overall goal by saying, "We wholeheartedly believe that the addition of FSG, and the incorporation of its expertise and demographic power will insure that Roush Fenway Racing will indefinitely preserve our pre-eminent position among NASCAR teams both on and off the track."
A premier sports marketing organization headquartered in Boston, FSG specializes in representation, sponsorship sales, event marketing and strategic marketing consulting for corporations who conduct business in sports and entertainment. The company has created successful marketing platforms for clients such as Boston College, Major League Baseball Advanced Media, the Boston Red Sox and the PGA TOUR's Deutsche Bank Championship.
"Although there have been many instances of cross ownership in the world of professional sports, this partnership marks the first time that owners of a professional franchise in one of the four major leagues have crossed over into the world of NASCAR," said Dee. "Both Roush Racing and FSG have reached a mature stage in their evolution and this partnership will provide both organizations with the necessary resources to remain competitive at the highest levels of their respective sports. We recognize the significant opportunity to enhance and preserve Roush Fenway Racing's already powerful position and intend to aggressively market NASCAR and our stable of drivers to the sports fans of New England."
ABOUT FENWAY SPORTS GROUP
FSG, a subsidiary of New England Sports Ventures, which owns the Boston Red Sox and eighty percent of New England Sports Network (NESN), is a strategic sports marketing firm with experience in professional and collegiate sports. FSG's core strengths include property representation and acquisitions, entertainment marketing, sponsorships and consulting services. For more information please visit www.FenwaySportsGroup.com
ABOUT ROUSH FENWAY RACING
Roush Fenway Racing is NASCAR's largest team operating 13 motorsports teams, five in NASCAR NEXTEL Cup with drivers Matt Kenseth, Jamie McMurray, Greg Biffle, Carl Edwards and David Ragan; five in the Busch Series with Kenseth, Biffle, Edwards, McMurray, Ragan, Todd Kluever, Michel Jourdain Jr. and Danny O'Quinn Jr.; and three in the Craftsman Truck Series with Edwards, Peter Shepherd, Travis Kvapil and Erik Darnell.
-credit: roush racing