Robert Yates announced earlier today his intention to retire as President of Robert Yates Racing following the last race of the 2007 NASCAR Nextel Cup season. Certain facets of Robert Yates Racing are being transferred to a new company presided over by Doug Yates. The new entity will be called Yates Racing. Robert Yates Racing will continue with its joint ownership of Roush Yates Racing Engines as well as other ventures.
“As many of you know I announced at the Brickyard, earlier this year, my decision to enter into a partnership with Newman/Haas/Lanigan Racing”, said Robert Yates. “The goal of this partnership was to build a team to contend for the championship. The more I thought about it the more I realized instead this was the perfect opportunity for me to pass the torch to the next generation. I don’t know how to express my gratitude to the Newman/Haas/Lanigan group for their support and belief we could get to the top. I’m closing this chapter of my life, and I cannot wait to see what is in store for me next. Carolyn and I look forward to watching Doug build Yates Racing into a championship caliber team”.
Since Robert Yates Racing was formed, the now two-car Cup team has posted 57 victories and 48 poles in addition to winning the 1999 NASCAR championship with Dale Jarrett. Current Nextel Cup drivers Ricky Rudd and David Gilliland pilot the No. 88 and No. 38 Ford Fusion’s, respectively.
On February 11, 2007 at Daytona International Speedway, both of Robert Yates cars qualified on the front row for the Daytona 500. David Gilliland qualified on the pole with Ricky Rudd was alongside in second. Robert Yates Racing also fields the No. 90 Ford Fusion driven by Stephen Leicht in the NASCAR Busch Series. Drivers such as Davey Allison, Ernie Irvan, Dale Jarrett, Ricky Rudd, Kenny Irwin, and Elliott Sadler have driven for RYR.
DOUG YATES TO FIELD TWO NSCS TEAMS IN 2008
Second Generation To Carry On Rich Yates Family Racing Heritage
Mooresville, N.C. (September 7, 2007) – Doug Yates announced today he will field two NASCAR Sprint Cup Series (NSCS) teams in 2008 with drivers David Gilliland and Travis Kvapil. These teams will be operated under a company called “Yates Racing” which has agreed to acquire operating assets from Robert Yates Racing, including the transfer of car numbers and owner points. The transaction will be effective December 1, 2007.
“With this announcement it’s clear that the letter of intent with Newman/Haas/Lanigan Racing will not proceed. We’re thankful for their support and would welcome the opportunity to work with them in the future,” said Yates Racing CEO Doug Yates. “I am very excited to carry the Yates Racing heritage into the future. I believe I have the experience and understanding of the competition and business requirements that are necessary to be an effective team owner.
“My first order of business is to revamp our infrastructure into one that can field race teams that can compete successfully with the pre-eminent teams in the sport. I personally think the best business and competitive model in the sport to emulate for long-term success is that of Jack Roush and Roush Fenway Racing,” continued Doug Yates. “I have gotten to know Jack and his organization very well through our joint engine company and before I undertook this commitment I asked Jack for advice.
“I am pleased to announce that Yates Racing will have full support from Roush Fenway Racing, including hardware, engineering, marketing and operational practices,” added Doug Yates. “By the 2008 Daytona 500, Yates Racing wants to be in an elevated position where we are competing successfully against any race team in the sport.
“With David, Travis and Roush Fenway Racing, we will continue to work on finding the right sponsor partners to join our programs.”
Neither Jack Roush, Roush Fenway Racing, John Henry or Fenway Sports Group will have any ownership interest in Yates Racing.
Statements from Dan Davis, director, Ford Racing Technology:
ON THE ANNOUNCEMENT: “This is a big day for Doug Yates and his family. Certainly, we’re disappointed that the partnership with Newman/Haas/Lanigan did not proceed as was originally planned, but the door is still open for joint efforts in the future.
“We are keenly aware that racing is the Yates’ family business. This is what they do. So Doug and Robert certainly had some difficult decisions to make as they determined what they felt was the best decision for the long-term health and viability of their team and its employees.
“Philosophically, the partnership with Newman/Haas/Lanigan had merit, however there’s no question that partnering with Roush Fenway Racing will provide more immediate technical and operating support, leading to improved on-track performance
“Bringing these programs together, much like the engine program, will have near and long-term operational benefits, and we will realize further efficiencies in our overall Ford NASCAR program.
ON THE RETIREMENT OF ROBERT YATES AT THE END OF 2007: “There’s no question Robert has struggled with this decision. He has no doubt given it a lot of thought. Although this will allow him a chance to step back from the day-to-day pressures of running a championship race team, I’m sure he will always be available to provide input and advice when asked. He’s a legend in this sport, and we at Ford Racing are grateful for everything he has done over the years with us. A guy who has 57 wins and a championship in this sport has earned his rightful place among the best in this sport.”
ON TRAVIS KVAPIL BEING NAMED AS ONE OF YATES RACING’S NEW DRIVERS: “This is a great opportunity for Travis. He came to Roush Fenway’s truck program this past year determined to prove he deserved a chance to race again in Nextel Cup, and based on his performance, I think he has earned it. He has proven he’s not just a competitor – he’s a winner. And we expect he will continue to make a strong run at the Craftsman Truck Championship these next couple of months.”
