Roush, Woods announce alliance BROOKLYN, Mich. (June 13, 1998) Roush Racing and the Wood Brothers Racing Team announced Saturday the formation of a strategic racing alliance between their organizations. Pursuant to the terms of the ...
Roush, Woods announce alliance
BROOKLYN, Mich. (June 13, 1998) Roush Racing and the Wood Brothers Racing Team announced Saturday the formation of a strategic racing alliance between their organizations.
Pursuant to the terms of the alliance, Roush Racing will provide marketing, management and engine manufacturing services to the Wood Brothers organization for a period of years. The Wood Brothers own extensive engine facility will be utilized to accelerate the development of engines for their teams and for the associated Roush Racing teams.
"The Wood Brothers are celebrating their 50th years in NASCAR, and through this alliance with Roush Racing, we are positioning the Wood Brothers Racing Team to remain as a significant competitive presence in NASCAR racing for another 50 years," said Eddie Wood, president of the team.
"The Wood Brothers are a premier brand in racing, with a history rich with victories and moments significant to this sport," said Jack Roush. "We are delighted to be able to help them, and to be helped by them, and through our combined efforts to participate in NASCAR's growth through the next 50 years."
"We are convinced that the cooperative marketing of two great racing brands, Roush Racing and Wood Brothers, will protect and enhance both teams' opportunities to secure sponsorship, will improve our collective position in off-track marketing, merchandising and licensing activities, and will allow us to deliver greater overall value back to our sponsors," said Geoff Smith, Roush Racing president.
Both Roush Racing and the Wood Brothers wish to make it clear that under the terms of this alliance that neither team nor any of its principals will acquire any ownership interest in the team or teams of the other.
Roush Racing currently fields nine NASCAR teams -- five in the NASCAR Winston Cup Series, two in the NASCAR Busch Series Grand National Division and two in the NASCAR Craftsman Truck Series. The Wood Brothers team fields the NASCAR Winston Cup Series effort driven by Michael Waltrip.
Source: NASCAR Online