Do you know how the NY Taxi Medallions work? It sounds a little like franchising. This is also from Jayski...
New York Investor still looking at teams after RYR turns them down: Now that Robert Yates Racing has formally turned down New York investment banking firm Medallion Financial Corp.’s offer to buy into the team, Medallion is looking for one or more other Cup teams to align with, multiple sources in the Nextel Cup garage have confirmed. Medallion is the leading financier of taxicab medallions in New York City, which sell for about $225,000 apiece in today’s market. Three other investment-banking firms, one each in New York, Dallas and Southern California are also looking at NASCAR possibilites.(Ford Racing)(7-15-2007)
More from Jayski on the struggles of Ginn Racing and the release of drivers...
#
# Ginn Announces Changes: Emphasizing an eye on the future along with solidifying the foundation of its Nextel Cup program, Ginn Racing announced the following transactions.
* Aric Almirola has signed with Ginn Racing. He will become Mark Martin’s co-driver in the #01 U.S. Army Chevrolet for the remainder of the 2007 season and will also share the ride with Martin in 2008. His first race in the #01 will be Aug. 12 at the road course in Watkins Glen, N.Y. As part of his contractual obligations, Almirola will compete in five remaining Busch races for JGR this season.
* Regan Smith will assume full-time driving duties in the team’s #14 Chevy, beginning with the Nextel Cup race July 29 in Indianapolis. Smith replaces Sterling Marlin.
* Due to a lack of sponsorship, the #13 Ginn Racing team is currently being evaluated. Joe Nemechek, who drove the #13, has been released and is free to explore other opportunities.(Ginn Racing PR), for earlier information on the changes at Ginn, see my #01 Team Page.(7-17-2007)