Author Topic: Earnhardt Jr. wants majority stake in DEI  (Read 2740 times)

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Earnhardt Jr. wants majority stake in DEI
« on: February 09, 2007, 03:02:16 AM »
"People around me are all the time having to remind me of the magnitude of me."
-- Dale Earnhardt Jr.


DAYTONA BEACH, Fla. -- Dale Earnhardt Jr. didn't mince words when asked Thursday what it would take to re-sign with the Nextel Cup organization his father built.

"I want majority ownership, basically," Earnhardt Jr. said during media day at Daytona International Speedway.

As in more than 50 percent?

"Absolutely," Earnhardt Jr. said emphatically.

Earnhardt Jr.'s contract with Dale Earnhardt Inc. expires at the end of the 2007 season. Earnhardt Jr. and his sister, Kelley Earnhardt Elledge, began negotiations on a new deal in the middle of 2006, with ownership of the company a major sticking point.

Until Thursday, Earnhardt Jr. never indicated what percentage.

Asked if stepmother Teresa Earnhardt, who inherited sole ownership of the company when Dale Earnhardt was killed on the last lap of the 2001 Daytona 500, was willing to budge, Earnhardt Jr. said, "We'll see."

Earnhardt Jr. and Elledge, met with Max Siegel, DEI's new president of Global Operations, on Wednesday along with director of motorsports Richie Gilmore.

Earnhardt Jr. said it was more of a get-to-know-you meeting with Siegel than a contract negotiation, but added Siegel could expedite the process he initially hoped would be concluded by April or May.

"He's a great guy to talk to and a great guy to work with," Earnhardt Jr. said of Siegel. "He's going to speed things up. He's going to improve negotiations and help those things make it a little bit easier."

Not in the meeting was Teresa, who has been asked to step aside in negotiations because of her somewhat tumultuous relationship with Earnhardt Jr. DEI officials could not be reached for comment Thursday.

"A lot of the problems in the past, it was very clunky in how it went along," Earnhardt Jr. said. "Really, you could never get gears meshed. I think he [Siegel] can improve that."

The relationship with Teresa took a turn for the worse in December when Teresa told the Wall Street Journal that her stepson needed to decide between being a driver and public personality.

Earnhardt, who has his own television and radio show, said in his most recent interview he was past that. On Thursday, he called it a "low blow."

"She portrayed it as I was out there waving a flag, 'Hey, look at me. I can dance and I can sing, check me out,' like I'm trying to do all this different stuff," Earnhardt Jr. said. "I enjoy my radio show. It's an hour long. It takes no time to do. My TV show takes five days out of the year to shoot."

Earnhardt Jr. said he's tried hard to remain professional with his public comments on Teresa and negotiations "to keep the bitterness out of it."

He was much more outspoken on Thursday, saying media reports that DEI needs him more than he needs DEI have helped him understand his value.

"You don't like public opinion or media opinions to sway decisions," Earnhardt Jr. said. "But in this case, I have a real bad habit of being way too modest about my position in this sport. A lot of people, including the media, have helped me understand what I'm worth, what the situation really is."

Four-time Cup champion Jeff Gordon, who believes Earnhardt Jr.'s relationship with Teresa is damaged to the point it will make a new deal hard to reach, laughed.

"I feel sorry for him if he didn't realize where he was at all," he said. "I'm pretty sure Kelley knows where he's at. If he doesn't, she can remind him."

Earnhardt has been named the most popular driver in NASCAR the past four years. His merchandise sales are far and away tops in the sport and his primary sponsor, Budweiser, is the No. 1 sponsor in terms of exposure.

"People around me are all the time having to remind me of the magnitude of me," Earnhardt. Jr. said. "They're like, 'Hey, we want you to come to the ESPYS to present?' I'm freaked out, scared to death to go to it. They're like, 'Man, you've got to get more confidence because you're that big. You deserve to be there on that stage.'

"The media, when you guys write about the position that I have, the leverage that I have, it sort of helps me understand what my sister, J.R. Rhodes and all of those people have been trying to explain to me for the last five or six years."

Asked if Teresa understood that value, Earnhardt Jr. said, "You'll have to ask her. I don't want to put words in her mouth."

Nobody put words in Earnhardt Jr.'s mouth on what he wants.

"The main factor is the ownership part," he reiterated. "It has nothing to do with money and nothing else."

David Newton covers NASCAR for ESPN.com. He can be reached at dnewtonespn@aol.com.

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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #1 on: February 09, 2007, 04:50:05 AM »
The family issues at DEI are well-known...Junior and Tony Eury have had major squabbles and fallings-out that hurt the team badly, and then both "kissed and made up" and everything was fine.  Junior and Theresa need to do the same thing.  It's a family enterprise, and there are always problems with that kind of operation.  Junior needs to be in a situation where all he has to do is drive, and nobody tries to tell him how to live his life off the track.  If she'd only just shut up and pay the bills, but I've never met a woman yet who's willing to do that...

Junior might end up at RCR someday, but I doubt that he'd really be happy there...he isn't his dad.  He isn't as single-minded as his father was, and it's sometimes perceived as a lack of  desire or focus.  I'm not sure that it is...it takes several years for a driver to reach his full potential in NASCAR, and Junior hasn't really been around that long. 

I think that in the end, cooler heads will prevail...Junior isn't ready to run a team yet.  I'm sorry, but that's the way it looks to me.  It's a power struggle...Junior is feeling his oats, and Theresa is trying to rein him in...it's a family territory struggle.  It reminds me of the Pettys a few years ago...and that didn't really end until Richard stepped down and Kyle ran the show.

If I were Junior, I'd just shut up and drive, and Theresa should just pay the bills...


Dan
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #2 on: February 09, 2007, 12:43:00 PM »
The family issues at DEI are well-known...Junior and Tony Eury have had major squabbles and fallings-out that hurt the team badly, and then both "kissed and made up" and everything was fine.  Junior and Theresa need to do the same thing.  It's a family enterprise, and there are always problems with that kind of operation.  Junior needs to be in a situation where all he has to do is drive, and nobody tries to tell him how to live his life off the track.  If she'd only just shut up and pay the bills, but I've never met a woman yet who's willing to do that...

Junior might end up at RCR someday, but I doubt that he'd really be happy there...he isn't his dad.  He isn't as single-minded as his father was, and it's sometimes perceived as a lack of  desire or focus.  I'm not sure that it is...it takes several years for a driver to reach his full potential in NASCAR, and Junior hasn't really been around that long. 

I think that in the end, cooler heads will prevail...Junior isn't ready to run a team yet.  I'm sorry, but that's the way it looks to me.  It's a power struggle...Junior is feeling his oats, and Theresa is trying to rein him in...it's a family territory struggle.  It reminds me of the Pettys a few years ago...and that didn't really end until Richard stepped down and Kyle ran the show.

If I were Junior, I'd just shut up and drive, and Theresa should just pay the bills...


Dan

Jr.s has been driving for almost a decade.  He should get majority ownership as I see it.
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #3 on: February 09, 2007, 05:18:46 PM »
He'll probably end up getting it, if the TV pundits are correct.  I don't think he's ready for the responsibility, although he's a lot more consistent now than in years past.  The infighting at DEI does seem to hold the team back...maybe Junior SHOULD run the team.  As long as he and Eury get along...


Dan
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #4 on: February 09, 2007, 05:31:19 PM »
He'll probably end up getting it, if the TV pundits are correct.  I don't think he's ready for the responsibility, although he's a lot more consistent now than in years past.  The infighting at DEI does seem to hold the team back...maybe Junior SHOULD run the team.  As long as he and Eury get along...


Dan

It needs a hands on owner.  It bears his name.  It ws created to be his all along.  Teresa has the entire Dale Earnhardt merchandising to live off of.   Without the infighting, Dale Jr has a real chance at a championship.  The responsibilty of the company will help push him into taking the next step as a driver.
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #5 on: February 09, 2007, 09:29:13 PM »
He'll probably end up getting it, if the TV pundits are correct.  I don't think he's ready for the responsibility, although he's a lot more consistent now than in years past.  The infighting at DEI does seem to hold the team back...maybe Junior SHOULD run the team.  As long as he and Eury get along...


Dan

It needs a hands on owner.  It bears his name.  It ws created to be his all along.  Teresa has the entire Dale Earnhardt merchandising to live off of.   Without the infighting, Dale Jr has a real chance at a championship.  The responsibilty of the company will help push him into taking the next step as a driver.

You raise some valid points...and I hope you're right about that last one.  We'll probably find out in 2008.


Dan
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #6 on: February 09, 2007, 10:02:35 PM »
They say the best things in life are free
But you can give them to the birds and bees
I want money.

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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #7 on: May 07, 2007, 10:24:31 AM »
Earnhardt Jr. said it was more of a get-to-know-you meeting with Siegel than a contract negotiation, but added Siegel could expedite the process he initially hoped would be concluded by April or May.

Here it is, May, and not a word about this contract.

DEI threw this whole season away over a contract negotiation.  With that in mind, Jr. never wins the championship as long as he races there is the latest from Ultradomus himself.  :o

I hope Teresa refuses to give Jr. a majority stake and that he walks.
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #8 on: May 07, 2007, 02:21:44 PM »
It reminds me of the Pettys a few years ago...and that didn't really end until Richard stepped down and Kyle ran the show.

And look how well that's turned out...........

But, I can't envision Little E driving for RCR and racing against DEI drivers, that's just so wrong.........

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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #9 on: May 07, 2007, 02:24:52 PM »
I think, as soon as daddy died, it ceased being a "family thing". Jr & Teresa have never gotten along. This may, truly, not be about money....

Imagine, the one person you hate most being your boss in the "family business". Would you want to take the company over just for the money or would you be wanting to "get out from under the bitch"?
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #10 on: May 07, 2007, 02:37:18 PM »
"Guard with jealous attention the public liberty. Suspect everyone who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are ruined. The great object is that every man be armed. Everyone who is able may have a gun."-Patrick Henry

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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #11 on: May 08, 2007, 12:21:56 AM »
The latest rumor is that DEI and RYR are going to merge...and Earnhardt is adamant that he'll stay with Chevrolet, and RYR will stay with Ford...interesting...if DEI and RYR DO merge, SOMEBODY will have to switch brands...there's also widespread speculation that Junior will drive for either Childress or Hendrick next year...maybe THAT'S why he jumped into Kyle Busch's car at Martinsville...

The plot thickens...



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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #12 on: May 08, 2007, 06:09:39 PM »

DEI threw this whole season away over a contract negotiation.  With that in mind, Jr. never wins the championship as long as he races there is the latest from Ultradomus himself.  :o

I hope Teresa refuses to give Jr. a majority stake and that he walks.

I agree.  There's too much distraction there for Jr. to win a championship.

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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #13 on: May 09, 2007, 12:44:18 PM »
I agree.  There's too much distraction there for Jr. to win a championship.

What should Jr. do?
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Speculation swirls around Earnhardt Jr. announcement
« Reply #14 on: May 10, 2007, 12:59:04 AM »
Dale Earnhardt Jr. is expected to announce Thursday morning that he will leave Dale Earnhardt Inc. after this season and possibly form his own Nextel Cup team, sources told ESPN.com on Wednesday night.

Earnhardt will discuss his future during a news conference Thursday at JR Motorsports, the Mooresville, N.C., racing shop that houses the Busch Series team Earnhardt owns.

Sources close to the situation said Wednesday night that Earnhardt may start a new two-car Nextel Cup team next season at JR Motorsports. Martin Truex Jr. would drive one car and Earnhardt could drive the other, but Earnhardt might keep his options open and go to another team.

Reports also stated that JR Motorsports will use engines supplied by Hendrick Motorsports, though sources at Hendrick Motorsports told ESPN.com they were unaware of any partnership with JR Motorsports.

Reached at a sponsor appearance at Atlanta Motor Speedway on Wednesday night, Earnhardt told the Atlanta Journal-Constitution he planned to talk about "some ideas I've got for the future" but would not elaborate. He also said he didn't want his JR Motorsports team to "grow too fast."

Hendrick, winners of seven of the past Cup eight races this season, already leases engines to Ginn Racing and Haas-CNC Racing. Hendrick officials said Wednesday they have not spoken to Earnhardt about driving for their organization.

Truex and Earnhardt Jr. both drive for Dale Earnhardt Inc., the organization founded by Dale Earnhardt Sr. Teresa Earnhardt, Dale Earnhardt Sr.'s widow and Earnhardt Jr.'s stepmother, owns DEI.

Earnhardt Jr., who is in the final year of his contract with DEI, has been negotiating a new deal all season with DEI. Kelley Earnhardt Elledge, Earnhardt Jr's sister, is his manager and chief negotiator.

Earnhardt Jr., 32, has said he wants controlling interest in DEI (at least 51 percent) so he could make the necessary decisions to help DEI reach the championship level.

He repeatedly has said he thought everything would work out for him to remain at DEI as the driver of the No. 8 Budweiser Chevrolet. Earnhardt has 17 Cup victories in his career.

Terry Blount covers motorsports for ESPN.com. He can be reached at terry@blountspeak.com. David Newton covers NASCAR for ESPN.com. He can be reached at dnewtonespn@aol.com.
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #15 on: May 10, 2007, 01:50:18 AM »
This appears to be the most sensible solution to the situation at hand...it's obvious that Junior and Teresa aren't going to see eye-to-eye on anything.  I just hope he won't become too distracted with the day-to-day aspects of running a business to give his all behind the wheel...




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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #16 on: May 10, 2007, 01:50:27 AM »
I just got to wondering, if DEI owns the rights to the #8, I wonder if Childress will give Jr the rights to the #3.

The plot thickens.........
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #17 on: May 10, 2007, 01:11:17 PM »
Well, Junior and DEI will part ways at the end of the year.  There's gonna be  one humongous bidding war for his services, especially since Budweiser is going with him.  Willl he end up at RCR?  Supposedly, no offficial talks have taken place there, but that doesn't necessarily mean anything...

I don't see him at Joe Gibbs Racing, not with Bud, anyway... and Hendrick is maxed out with 4 teams.  JR is too small an outfit right now to field a Cup effort, but that could change...

I think DEI s gonna D*I*E without him.  Sorry, Teresa...but you don't know squat.


Dan
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #18 on: May 10, 2007, 01:14:10 PM »
THe beginning of the end for DEI.

Jr at RCR, in the #3(?), with Bud, Wrangler and Goodwrench on the car.

NASCAR will pull every string to get him the championship in '08.

Ultradomus has spoken.
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #19 on: May 14, 2007, 12:23:58 PM »
I think DEI s gonna D*I*E without him.  Sorry, Teresa...but you don't know squat.

Then Jr can buy it for a song and be at the helm after all!

NASCAR will pull every string to get him the championship in '08.

Wha...NACCAR fixed?!?!?! You don't know what you are talking about! They'd never rig a race....Tony Stewart was lying!
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #20 on: June 13, 2007, 12:01:59 PM »
Hendrick for Jr.

Ultradomus says:

With their COT performances this year, he better impress next year or it will be hard for him to ever beat both Gordon and Johnson at Hendrick.
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Re: Earnhardt Jr. wants majority stake in DEI
« Reply #21 on: June 13, 2007, 12:11:04 PM »
Just depends on who they are giving their "special" parts to.
"Guard with jealous attention the public liberty. Suspect everyone who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are ruined. The great object is that every man be armed. Everyone who is able may have a gun."-Patrick Henry