MB2 Motorsports Announces Restructuring of Ownership CONCORD, N.C. (June 30, 2005) -- MB2 Motorsports announced today that Robert E. Sutton has expanded his ownership involvement with the company by joining current and founding owner, Nelson...
MB2 Motorsports Announces Restructuring of Ownership
CONCORD, N.C. (June 30, 2005) -- MB2 Motorsports announced today that Robert E. Sutton has expanded his ownership involvement with the company by joining current and founding owner, Nelson Bowers, as an equal partner with the multicar race team. Sutton was previously a co-owner of MB2's No. 36 Nextel Cup team.
Jay Frye, MB2's general manager and chief executive officer since the formation of the racing organization in 1996, will continue with a minority ownership in the company.
Sutton's expanded position will take effect immediately and MB2 Motorsports will become one entity with ownership of all of the company's race teams starting with the 2006 season.
The company fields three cars in the NASCAR Nextel Cup Series -- the 01 U.S. Army Chevrolet, driven by Joe Nemechek; the No. 10 Valvoline Chevrolet, driven by Scott Riggs; and the No. 36 CENTRIX Financial Chevrolet, driven by Boris Said.
"Having had the opportunity to work with Nelson and Jay over the past two seasons, I have complete confidence that this team is poised for continued success on the track, as well as through innovative approaches to marketing the team properties," Sutton said. "My background is in building businesses and I know potential when I see it."
As Chairman and CEO of CENTRIX Financial and owner of Sutton Motorsports, Sutton spearheaded the company's move into NASCAR in April of 2004 as the sanctioning body's Official Auto Finance Company. Soon after, CENTRIX joined MB2 as an associate sponsor on the No. 01 and No.10 teams.
Following the 2004 season, Sutton and CENTRIX increased their involvement with MB2 as the primary sponsor on Said's No. 36 Chevy and major associate status with the No 01 and 10 teams.
"We are thrilled that Bob has stepped up his role with our company," said Bowers. "His sharp business acumen, knowledge and sponsorship participation in many racing disciplines open a new and exciting chapter for our race team. Bob and I share a commitment and vision for success."
The racing organization has a developmental program in progress with 20-year-old driver Joe Henderson of Franklin, Tenn. The company also has plans to have Kraig Kinser, the 19-year-old son of legendary sprint car racer Steve Kinser, join the developmental team.
"We have built a solid foundation with key team personnel in place," said Frye. "And with the expansion of Bob's ownership role, it gives us even more opportunities and resources to grow in the NASCAR Nextel Cup Series."
MB2 is currently based in Concord, N.C., but will be moving in August to a new shop in Mooresville, N.C. The new 144,000 square-foot complex will be more than three times larger than its current facility.
About Sutton Motorsports
Sutton Motorsports (SMS) is an affiliate of CENTRIX Financial and was founded in 2002 with the goal of creating and managing competitive motorsports properties with strong economic foundation, while providing a valuable business platform for the marketing programs at CENTRIX. SMS focuses on innovative engagement of team and event management.
In addition to the Team CENTRIX NEXTEL NASCAR Cup entry, SMS has negotiated ownership and management of the CENTRIX Financial Grand Prix of Denver, the Official Finance Company of NASCAR status for CENTRIX Financial, which sponsors three cars in the NEXTEL Cup Series, and a two-car sponsorship deal for the 2005 Indianapolis 500, the IRL, Champ Car World Series, the Baja 1000 and Race of Champions (Paris, France).