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NASCAR.com:
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The owner of energy drink Red Bull plans to leave NASCAR at the end of this season, The Associated Press has learned.
Multiple people familiar with the decision say a team official traveled to Michigan International Speedway and told industry leaders Sunday of the impending move. The people spoke on condition of anonymity because an official announcement has not been made to team employees.
"Red Bull Racing Team is currently seeking outside investors as we evaluate next steps in the Sprint Cup Series," said a statement from the team. "We are not at liberty to comment on details while negotiations are under way. Red Bull fully supports NASCAR and will continue its investment in America's premier form of motorsports for the remainder of the 2011 season. The team's focus will not waiver as we fight for victories and a position in the 2011 Chase for the Sprint Cup."
Red Bull is both the owner and sponsor of the two-car NASCAR team. The team has struggled since its 2007 entry into NASCAR and consistently has been plagued by rumors and speculation that the Austrian ownership group will leave the auto racing series.
No reason for Red Bull's leaving has been given, but the energy drink markets to the 18-to-34 age group -- the demographic NASCAR has consistently lost in its current ratings slide.
Multiple people familiar with the decision say a team official traveled to Michigan International Speedway and told industry leaders Sunday of the impending move. The people spoke on condition of anonymity because an official announcement has not been made to team employees.
"Red Bull Racing Team is currently seeking outside investors as we evaluate next steps in the Sprint Cup Series," said a statement from the team. "We are not at liberty to comment on details while negotiations are under way. Red Bull fully supports NASCAR and will continue its investment in America's premier form of motorsports for the remainder of the 2011 season. The team's focus will not waiver as we fight for victories and a position in the 2011 Chase for the Sprint Cup."
Red Bull is both the owner and sponsor of the two-car NASCAR team. The team has struggled since its 2007 entry into NASCAR and consistently has been plagued by rumors and speculation that the Austrian ownership group will leave the auto racing series.
No reason for Red Bull's leaving has been given, but the energy drink markets to the 18-to-34 age group -- the demographic NASCAR has consistently lost in its current ratings slide.
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