Ricky Rudd's decision to give up team ownership to drive for reigning champion car owner Robert Yates in 2000 puts the NASCAR Winston Cup owner/driver concept on the endangered list.
With the exception of Bill Elliott, Dave Marcis, and a few drivers such as Jeff Gordon and Rusty Wallace who have a piece of the action, the owner/driver is practically extinct. This unfortunate situation doesn't rank up there with NASCAR signing a $2.8 billion television contract with NBC and Fox networks, but it warrants some concern.
The proliferation of multicar operations, which are more economically feasible, and the thinking among sponsors that bigger is better, have put the squeeze on the small businessman, whether or not the owner is the driver.
Rudd heads a list of at least five owners/drivers in Winston Cup who sold out in the past four years. They include Darrell Waltrip, Geoffrey Bodine, Brett Bodine, and Joe Nemechek. In all the cases, lack of adequate funding and the increasing costs of trying to compete with such multicar behemoths as Hendrick Motorsports, Roush Racing, Richard Childress Racing, and Robert Yates Racing were much of the bottom line.
One of the major stories of 1999 was Rudd losing his sponsor, Tide, a household word and product, and signing on to drive Robert Yates' #28 Ford. After six years as an owner/driver, Rudd disposed of his equipment at an auction. Yates bought the real estate-six acres at Lakeside Park near Mooresville, North Carolina, and the current shop, which will house #28.
Waltrip operated his team for seven full seasons and was forced to sell for lack of sponsorship in 1998 after "spending $1 million of my own money," he says.
Geoffrey Bodine, who bought the late champion Alan Kulwicki's team in 1993, sold and eventually left the team to drive for owner Joe Bessey. Brett Bodine struggled mightily for four years before selling in 1999.
Nemechek, after two disastrous years, sold his Winston Cup team to owner Felix Sabates and became his driver while retaining his Busch Series operation.
Rudd's Ride
Rudd gave up ownership for at least three reasons: inadequate funding to compete with the big guys, managerial responsibilities that distorted his focus on driving, and the opportunity to drive for a high-profile championship contender.
Asked if the value of his Tide sponsorship was between $4 and $6 million, Rudd says, "closer to four," about half of what leading Winston Cup teams command and a pittance of what might be expected from a major corporation such as Procter & Gamble.
Rudd had told Tide motorsports officials that if they intended to be competitive, the money needed to be doubled in 2000. They doubted that request until they conducted a market study, he says.
Rudd faults himself for assuming that Tide would return and for not staying closer to dealing with the sponsor. Tide moved to owner Cal Wells' new Winston Cup operation, and you can bet the ante is a lot higher than $4 million.
"As an owner, maybe I put too many eggs in one basket," Rudd says, "but I regret that Tide is coming back with a new team and a big increase in budget, and we didn't get the chance to try to operate a team with the right money." It remains to be seen, but Tide may also regret its decision.
In practically every case, the performance of driver-owned teams deteriorated. Rudd was the most successful, winning six races in the first five years, though the 22-year veteran plummeted from sixth to a career-low 32nd in points over the past three years. Moreover, Rudd's remarkable record of winning at least one race for 16 straight years ended.