had grand plans to build a contender when he bought a NASCAR team last summer. But he learned rather quickly that winning takes a lot of money and, without solid sponsorships, it's almost impossible to do.
Faced with scaling back his program to a noncompetitive level, Ginn instead merged his organization with Dale Earnhardt Inc. yesterday to form a four-car team that will debut this weekend in the Brickyard 400 at Indianapolis Motor Speedway.
"We absolutely would have survived without merging, but what we would have wound up doing is taken on lesser sponsors," Ginn said. "We would have had to continue to cut costs, and that is disgraceful to me. I am proud of the merger. I would not have been proud of putting a car out there that couldn't compete."
The new deal makes Ginn a partner at DEI, which had been owned outright by the late Dale Earnhardt's widow, Teresa. She remains the majority owner under the merger.
Dale Earnhardt Jr. will continue to drive the No. 8 Chevrolet for DEI for the remainder of the season, and Martin Truex Jr. remains in the No. 1 Chevy.
Paul Menard, who has struggled to make races this season in the No. 15 for DEI, will get the owner points from Ginn's No. 14 entry. That car had been driven by Sterling Marlin, who had locked it into the field each week based on owner points. Now Menard is assured a spot in the field.
Ginn driver Mark Martin will pilot the No. 01 Chevrolet for DEI and split seat time with Aric Almirola. Ginn's third car, the No. 13 that had been driven by Joe Nemechek, has been parked and won't compete under the merger as NASCAR rules limit a single organization to just four entries.
"Teresa is very excited about this merger," said Max Siegel, president of global operations at DEI. "She wakes up every day making sure 400 people have a job doing what they love, and today she has done something that has strengthened her company and positioned it for another 25 years."
Ginn, who will be listed as the car owner for Martin and Menard at least this weekend, thinks he has done the same. A Florida-based land developer, he made a splash last summer when he bought controlling interest in MB2 Motorsports.
He quickly pumped money into the cash-strapped team and was determined to pull it above its mid-level status and turn it into a contender. Ginn built a new 200,000-square-foot race shop, bought expensive equipment that only the elite teams have, assembled a deep driver development program and lured Martin away from Roush Racing in a deal that expanded the organization to three Cup teams.
Then the team shocked NASCAR by nearly winning the Daytona 500 -- Martin was nipped at the finish by Kevin Harvick, but his strong start to the season made him the points leader through the first four races of the season.
Formula One
Formula One boss Bernie Ecclestone agreed to hold the French Grand Prix in its current venue in Magny Cours next year and possibly in 2009. In a meeting with Prime Minister Francois Fillon and sports minister Roselyn Bachelot, Ecclestone agreed not to move the race in 2008. It also will return to Magny Cours in 2009 if no other suitable venue has been found.
Ecclestone previously said Magny Cours, located about 155 miles southeast of Paris in the Burgundy region, was not up to Formula One standards and the French GP should be held closer to the capital. The prime minister's office said Versailles and Evry and a site near the EuroDisney amusement park east of Paris were considered as replacement venues.
First Published: July 26, 2007, 3:00 a.m.