Evernham sells Nascar team to Canadiens owner
CHARLOTTE (AP) Ray Evernham completed the sale of his NASCAR team yesterday to Montreal Canadiens owner George Gillett Jr., ending nearly six months of negotiations to bring on a partner.
Gillett becomes the majority owner of the team, which will now be called Gillett Evernham Motorsports. Evernham, who won three championships as a crew chief, still has an ownership stake of the team he launched in 2001. But he will concentrate on competition issues going forward and allow Gillett to handle the business-side of racing.
"With the business acumen of the Gillett family and its sports brands, we've greatly expanded our reach," said Evernham, who will keep the title as chief executive officer. "It certainly allows us to capitalise on our strengths and position GEM for long-term success both on and off the track."