Carter "concerned" with Kmart issue.
NASCAR Winston Cup team owner Travis Carter has said that until Kmart's bankruptcy protection claim is resolved he is "concerned" about the long-term future of his two car Ford Taurus squad, which is sponsored by the troubled company.
It now seems that a team's troubles are not over once they've signed a sponsor. Now they have to worry about whether their sponsor is in a stable enough position to sustain a multi-million dollar deal with a race team.
NASCAR Winston Cup team owner Travis Carter has said that until Kmart's bankruptcy protection claim is resolved he is "concerned" about the long-term future of his two car Ford Taurus squad, which is sponsored by the troubled company.
It now seems that a team's troubles are not over once they've signed a sponsor. Now they have to worry about whether their sponsor is in a stable enough position to sustain a multi-million dollar deal with a race team.
Travis Carter is currently experiencing those worries after Kmart, one of the biggest retail outlets in America, filed for bankruptcy protection last week with mounting debts. Kmart are primary sponsors on the No.26 and No.66 Ford Taurus' set to be driven by Joe Nemechek and Todd Bodine in the 2002 Winston Cup season in the team co-owned by Carter and CART entrant Carl Haas.
Carter told USA Today "We're concerned, until we have some definite answers," despite having already received the firm's first payment of the year in a deal that is said to be worth $10-15 Million per annum. However that first payment will not be enough to cover the entire 36 race Winston Cup season and until the company's financial situation is resolved it is doubtful that in its current state it would be able to afford the outlay.
Kmart first appeared as a primary sponsor on a Travis Carter owned Winston Cup entry in 1999 with Darrell Waltrip and the No.66 team although the firm chose to promote its Route 66 and Blue Light Special lines on the car during 2000 and 2001. 2000 was also the first year Kmart sponsored the No.26 then-driven by Jimmy Spencer after Winston left the team.
Kmart have also had a long association with the Carl Haas/Paul Newman CART FedEx team although last year their 'Blue Light Special' colours appeared only on the Lola-Toyota of Christian Fittipaldi after a stormy off-season and for 2002 Fittipaldi will carry different colours.
Kmart are also the title sponsors for the Kmart400 Winston Cup event at the Michigan International Speedway.
