hearing that Valvoline is buying into the MB2 #36 M&M’s team, who is then buying into or buying Tyler Jet Motorsports #10 team. Supposedly Valvoline will be an equity partner in both teams, with Johnny Benson driving the Valvoline sponsored car. Hearing the deal will be done by July 1st and announced later in the summer. Also hearing #36 driver, Ken Schrader will remain as the driver of the M&M’s #36 Pontiac and Benson will stay on with the #10 with Valvoline as the sponsor(6-26-2000) UPDATE: As early as today, MB2 Motorsports will purchase Tyler Jet Motorsports, which owns the race team of Winston Cup driver Johnny Benson. MB2 Motorports, owned by Georgia residents Read Morton, Nelson Bowers and Tom Beard, already owns the #36 M&M’s Pontiac driven by Ken Schrader. The team owners have expressed interest repeatedly in recent months about expanding to a multi-car operation. The trio, traveling from Sears Point Raceway to Atlanta on Monday, was unavailable for comment. The proposed deal includes a contract extension of two to three years with Benson. MB2 Motorsports also reportedly was involved in discussions with Valvoline about becoming the future primary sponsor for Benson’s car. Valvoline is ending its longtime sponsorship with Mark Martin, who has signed a deal with Pfizer/Viagra worth a reported $60 million for five years. It was not known late Monday whether Benson would run under the ownership of MB2 or Tyler Jet in Saturday night’s Pepsi 400 at Daytona(Atlanta Journal Constitution)(6-28-2000) UPDATE 2: hearing that this deal will not be completed this weekend and is still at least a few weeks off IF it happens(6-29-2000) UPDATE 3: hearing the deal will be completed today, Thursday, July 20th. With MB2 Motorsports buying the #10 Tyler Jet Motorsports team. Supposedly Valvoline and driver Johnny Benson has signed with MB2 for 2001. Crew Chief James Ince may or may not go to MB2 Motorsports with the team AND a story from the Atlanta Journal Constitution UPDATE 4 – OFFICIAL: MB2 Motorsports today announced the immediate acquisition of a substantial part of Tyler Jet Motorsports assets. The acquisition enables the #10 Pontiac driven by Johnny Benson to compete in the 2000 NASCAR Winston Cup season and beyond for MB2. Benson’s team will join Kenny Schrader’s #36 M&M’s Pontiac team to form the newest multi-car team in the series. Benson said MB2’s acquisition brings stability and a wealth of resources to the race team. Both teams will continue to race Pontiacs powered by engines from Hendrick Motorsports. Benson said all of his crew at Tyler Jet Motorsports will continue to work out of the same shop near Lowes Motor Speedway for the balance of 2000. MB2 plans on building a shop near the Concord, N.C. airport to house both teams. Owner Read Morton said MB2 is looking for a sponsor for Benson’s car for the rest of the 2000 season. He expects an announcement later this summer regarding 2001 sponsorship. Morton said negotiations with Tyler Jet Motorsports owner Tim Beverley began almost a month ago and concluded this week with a deal that benefits both parties. Beverley will be a minority owner of the #10 Pontiac. Nelson Bowers, Tom Beard, and Morton co-own MB2 Motorsports. Jay Frye assumes the duties of general manager for the #10 and #36 teams. He has served as MB2’s general manager since its inception in 1996. Beverley, 43, purchased Darrell Waltrip’s team in 1998 and renamed it Tyler Jet Motorsports(Tyler Jet Motorsports PR)(7-20-2000) UPDATE 5: While the #10 team has been bought by MB2 Motorsports and will likely be sponsored and part owned(50%) by Valvoline in 2001, the team is still looking for a sponsor for the remainder of the 2000 season. Also, crew chief, James Ince, was released from his Tyler Jet Motorsports contract and will continue on with the #10 team as it’s crew chief(7-21-2000)
