LEXINGTON, Ky. - Valvoline today announced an agreement in principle to end its NASCAR NEXTEL Cup Series team partnership with MB2 Motorsports - effective at the end of the current season.
The racing sponsor/owner will sell its 50 percent share in the team to MB2 principals Nelson Bowers and Jay Frye and will no longer be primary sponsor of the No. 10 Chevrolet after the 2005 season.
According to Valvoline Designated Team Owner Jim Rocco, the parting was an amicable one.
"We have nothing but respect and admiration for (MB2) owners Nelson Bowers and Jay Frye," said Rocco. "Nelson and Jay gave us the opportunity to become more than sponsors when we took the historic step to become team owners."
Regarding Valvoline's NASCAR plans beyond the 2005 season, Rocco said, "We will have something to announce soon."
The Valvoline/MB2 partnership was announced in 2000 and began with the 2001 season. The 50/50 partnership marked the first time a consumer products company actually owned a NASCAR team. The Valvoline team visited Victory Lane at the 2002 Pop Secret 400 at North Carolina Speedway in Rockingham. Scott Riggs is in his second year driving the No. 10 Valvoline Chevy. The team leases engines from Hendrick Motorsports.
In other sponsership news, Allstate Insurance has signed on to a multi-year deal to sponser all of Everham's teams. (I guess they all will get a one-race deal with the sponser)
As well as Petty Enterprises will break up their sponsership deals to one and two race deals starting next year. GP and Brawny will stay on but in a very limited fashion as opposed to co-sponsering the whole year.
