Rusty Wallace Racing closing: UPDATES: Rusty Wallace is in Cabo San Lucas, Mexico this week, hosting his annual Charity Golf and Fishing Tournament. Next week, he’ll return home to make some difficult decisions on the future of his Rusty Wallace, Inc. NASCAR Nationwide Series team.RWI fielded a pair of Nationwide Series Toyotas for son Steve Wallace and Michael Annett last season, with Annett finishing ninth and Wallace 10th in championship points. Major sponsor 5-Hour Energy departed at season’s end to back Clint Bowyer’s new Sprint Cup Series effort at Michael Waltrip Racing in 2012, and the search for a replacement has yielded no results. Now, Wallace faces the prospect of closing the doors on a team he has devoted the last seven years of his life to building. “I’m afraid we’re getting really close to that right now” admitted the 1989 NASCAR Sprint Cup Series champion. “I don’t want to do it. It breaks my heart even thinking about it. But if we don’t have the money to do this thing right, it’s not worth doing. We’ve got some sponsorship in place for next year, but not nearly enough to run the full season. Honestly, we’ve got just enough money to get ourselves in big trouble. My wife Patty and I are trying to decide what to do” he said. “We’re looking everywhere for a way out; a way to avoid closing the doors. But I’m afraid that may be where we’re headed.”(Sirius Speedway)(1-6-2012)
AND: Reliable sources say that Rusty Wallace, Inc., will close its doors at the end of business [Friday], laying off a majority of its employees. Expect an official announcement within the hour.(Sirius Speedway)(1-6-2012)
UPDATE: Rusty Wallace is a man of his word. In September, the former NASCAR champion and current team owner warned if there wasn’t enough money to run his Nationwide Series program, he’d put the shop in mothballs. Unfortunately, that day has come. Rusty Wallace Inc. is expected to shut its doors next Friday, sources told FOXSports.com.(Fox Sports)(1-6-2012)
UPDATE: Officials of Rusty Wallace Racing, LLC (RWR) announced today that the team’s on-track activities will be put on a temporary hiatus. While the organization’s day-to-day competition activities will temporarily cease, key elements of RWR’s business staff will remain in place to continue development of future opportunities. The team is currently assisting #66 driver, Steve Wallace, in exploring several exciting opportunities for 2012, with backing from his current RWR sponsors. RWR will continue to maintain and manage those sponsor relationships on Wallace’s behalf. #62 driver, Michael Annett has been released from the team and will pursue other 2012 opportunities with his longtime family sponsor, Pilot Flying J.(Rusty Wallace Racing)(1-6-2012)
