sources tell me that the #03 Angela’s Motorsports team [Mike McLaughlin driver, Harold Holly crew chief] is either closing up for some reason or may be bought out, no other info at this time.(1-27-2003)
UPDATE: [BGN Racing] We were told that all the equipment has been repossessed because the team had not paid the bills and they are out of business AND Robert Yates Racing repossessed all his cars & equipment from the #03 team for non-payment.(BGN Racing)
UPDATE 2: Angela’s Motorsports, which planned to field the #03 Fords in the BGN with driver Mike McLaughlin this season, has shut down because of financial problems. In a statement released Tuesday, McLaughlin said he was “disheartened” about the recent turn of events and felt confident crew chief Harold Holly had put together a team capable of running for the championship. “Despite what has happened, the team is waiting for the next opportunity that will allow us to continue to pursue our goal,” McLaughlin said. “I have never seen this kind of dedication under these circumstances.” The team, owned by Angela Harkness, had planned to use chassis and engines from Robert Yates Racing. “Despite not being the owners, we feel a deep sense of urgency to make sure everyone is paid what they are owed,” McLaughlin said. “We are working on a few opportunities that will allow this team to reorganize and still compete for the championship this year.” Should McLaughlin and Holly not be able to keep the team together, they said they are open to other opportunities.(ThatsRacin.com)
AND the following is a statement from Mike McLaughlin, NASCAR Busch Series driver concerning reports on the closing of the #03 Busch Series Team: “First and foremost, we are all very disheartened by what has transpired the last few days. Harold Holly (crew chief), Clyde McLeod (team manager) and I have all worked very hard to put together a championship team. Harold has assembled a group of people that have worked endless hours to build the team. Despite what has happened, the team is waiting for the next opportunity that will allow us to continue to pursue our goal. I have never seen this kind of dedication under these circumstances. Robert Yates has been great in trying to keep this team intact. Despite not being the owners, we feel a deep sense of urgency to make sure everyone is paid what they are owed. We are working on a few opportunities that will allow this team to reorganize and still compete for the championship this year. Many folks have called and offered their help and support and I am very appreciative.. Thanks for everyones continued support.”(1-28-2003)
UPDATE 3: Frank Cicci said he will hire former team member Clyde McLeod as his team manager [BGN team with NFL great Jim Kelly]. Clyde’s wife, Anne-Marie, will join the team in the Mooresville, NC, shop office as soon as the sponsor is signed. McLeod, who served under Cicci for 11 years, lost his job with the #03 Angela’s Motorsports team, which closed its doors because of financial problems earlier this week. Mike McLaughlin, a former Cicci driver, lost his ride when Angela’s Motorsports folded. “I wish I could help Mike, but at this time I can’t,” said Cicci, who is committed to a younger driver for his team by the sponsor.(Elmira Star Gazette)(1-30-2003)
