Bobby Ginn Purchases Majority Interest in MB2 Motorsports Ownership Change for NASCAR Team Takes Effect Immediately CELEBRATION, Fla. (July 26, 2006) -- MB2 Motorsports, which fields NASCAR Nextel Cup entries for drivers Joe Nemechek and ...
Bobby Ginn Purchases Majority Interest in MB2 Motorsports
Ownership Change for NASCAR Team Takes Effect Immediately
CELEBRATION, Fla. (July 26, 2006) -- MB2 Motorsports, which fields NASCAR Nextel Cup entries for drivers Joe Nemechek and Sterling Marlin, has announced a change of ownership.
Real estate developer Bobby Ginn (pronounced GHIN) has purchased all of the shares owned by MB2 majority owner and founding partner Nelson Bowers. The business transaction takes effect immediately.
Jay Frye, MB2's general manager and chief executive officer since the formation of the racing organization in 1996, will continue in the same capacity and retain his ownership in the company.
Ginn's majority interest and Frye's interest comprise 100 percent ownership of MB2 Motorsports.
Ginn, 57, is president and founder of the Celebration, Fla.-based Ginn Resorts, a privately held resort development and management firm, specializing in exclusive leisure lifestyle and vacation destination communities in the United States.
Ginn Sports Entertainment, a division of Ginn Resorts, is responsible for producing sporting-related events along with managing and sponsoring several LPGA and Champions Tour golf events in Florida and South Carolina.
"We recognize the importance and relevance of NASCAR fans and sponsors to the overall success of our brand," said Ginn, a native of Hampton, S.C. "MB2 has outstanding partners in the U.S. Army, Waste Management, CENTRIX Financial, Wiley X Eyewear, Ginn Resorts and Mighty Auto Parts. The goal as the new owner is simple -- to work as hard as we can to build on the successes of the team and make a commitment to providing our race teams with the resources necessary to get them into Victory Lane."
Also announced today is that Ginn Resorts, which has been an MB2 primary sponsor at selected Cup events in 2006, has added 10 races to its primary-sponsorship package on Marlin's No. 14 Chevrolet. The sponsorship will be managed through Ginn Sports Entertainment.
Regarding the sale of his shares in MB2, Bowers said, "I have thoroughly enjoyed all facets of being a NASCAR team owner for the past 10 years. It's been a memorable and fascinating ride and I wish Bobby, Jay and the entire MB2 organization nothing but success."
"Nelson was one of the catalysts in the formation of MB2 and we are all grateful for what he has provided in his ownership role during the past 10 years," said Frye. "He is a great friend and will always be part of the MB2 legacy."
"We are entering an exciting new era and I look forward to working closely with Bobby in creating a new level of competition for MB2 Motorsports," Frye added. "Along with being innovative and resourceful, Bobby is deeply committed to do what it takes to grow MB2."
Along with its Nextel Cup teams, MB2 has a driver development program in place with Kraig Kinser in the NASCAR Craftsman Truck Series and Jesus Hernandez in the Drive for Diversity program.
The MB2 team shop is based in Mooresville, N.C.