Beverley Buys Waltrip's Team

HARRISBURG, N.C. (March 27, 1998) Tim Beverley, a 41-year-old businessman from Tyler, Texas, has purchased the NASCAR Winston Cup Series operation founded by three-time series champion Darrell Waltrip. "Owning a Winston Cup team...

HARRISBURG, N.C. (March 27, 1998)

Tim Beverley, a 41-year-old businessman from Tyler, Texas, has purchased the NASCAR Winston Cup Series operation founded by three-time series champion Darrell Waltrip.

"Owning a Winston Cup team is a dream come true for me," said Beverley, who also owns and operates Tyler Jet Aircraft, one of the world's largest dealers in corporate jets. "I raced sports cars for 10 years and became enthralled with Winston Cup racing through my business dealings with several people involved in the sport.

"The growth of Winston Cup racing is on an upward spiral and this is a very exciting time to be in this business. And, I couldn't think of a better person to be involved with than Darrell Waltrip. He is the greatest spokesman this sport has ever had and he is a lot of fun to be around. I'm looking forward to us having a long-term working relationship."

Now, Waltrip looks forward to removing the title "driver/owner" and just concentrating on his duties behind the wheel.

"Selling the team was a very, very difficult decision for (wife) Stevie and I, but, quite honestly, I'm relieved," Waltrip said. "We've been through a lot during the last year and it's ben an emotional drain on me. Now I can get back to focusing on what I do best -- and that's driving a race car."

Beverley will operate the team through TJ Motorsports, Inc., his newly formed organization.

In an unprecendented move, Beverley also announced that he was "loaning" Waltrip to Dale Earnhardt, Inc. for the next several races on the 1998 NASCAR Winston Cup Series schedule, beginning with Sunday's Food City 500 at Bristol Motor Speedway.

"Darrell will substitute for the injured Steve Park in Earnhardt's Pennzoil car for the next few months," Beverley said. "We need some time to reorganize our race team, build several new cars and secure sponsorship. Even though the No. 17 car won't be at the race track, we'll be working real hard behind the scenes, doing research and development.

"Working with Dale and his people is a win-win situation for everyone. It allows us the time we need to get this team headed in the right direction, while allowing Darrell to continue competing in every race. It also gives Dale Earnhardt Inc. and it's sponsors a champion driver to fill in while Park recovers from his injuries."

Waltrip agrees that taking the time to reorganize the team's efforts will pay off in the long run.

"T.J. (Beverley) didn't get where he is today by making bad business decisions," Waltrip said. "He's not worried about the next race, he's standing back and looking at the big picture. He understands what it is going to take to get this race team back to Victory Lane and taking some time to regroup is an excellent decision. "The opportunity to work with Earnhardt and his people and for me to drive the No. 1 car while T.J. fine tunes his operation is playing out as the perfect scenario."

The purchase also includes the NASCAR Craftsman Truck Series team that finished second in the 1998 series standings. The truck team has been inactive this season and Beverley indicated no decision has been made concerning the future of that portion of the operation.

Waltrip founded the Darrell Waltrip Motorsports team in 1990 and the outfit debuted in 1991. Waltrip won two races in '91 and three in '92, his most recent win was at the 1992 Southern 500 at Darlington Raceway. The team is housed in a 39,000-square-foot facility located in the shadows of Charlotte Motor Speedway. Source: NASCAR Online

Write a comment
Show comments
About this article
Series NASCAR Cup
Drivers Dale Earnhardt , Darrell Waltrip , Steve Park