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Old 02-04-2017
Yvonne* Yvonne* is offline
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Default Stewart-Haas Files Lawsuit Against Sponsor

Wow, $31 million breach of contract lawsuit filed for Danica's team!

http://www.msn.com/en-us/sports/moto...id=msnhomepage
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Old 02-05-2017
2 Forty 2 2 Forty 2 is offline
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Originally Posted by Yvonne* View Post
Wow, $31 million breach of contract lawsuit filed for Danica's team!

http://www.msn.com/en-us/sports/moto...id=msnhomepage
I almost fell out of my chair at breakfast when I read that . Was the bakery's lawyer and accountant on vacation that week they sighed the contract ? So it's a 3 year deal at 15 million per year ,totaling 45 million . 3 years = 156 weeks , divide by $45,000,000 = $288,461.54 per week in sponsorship money due .ARE YOU KIDDING ME ! This driver isn't even a top twenty driver in the series . One thing I can say about the women of the NHRA , they can flat out drive . To think with all the diversity programs NASCAR implements, this is the best female driver available , and on top of that command that kind of money ? Hey when I was a kid my Mom drove way to fast , maybe I should call Tony , she's older now but she couldn't do any worse .
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Old 02-05-2017
slugbelch slugbelch is offline
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Just another good example on how far we have fallen behind and with sponsors still not wanting to dump their money into NHRA, how far we have to go.
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Old 02-05-2017
2 Forty 2 2 Forty 2 is offline
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Just another good example on how far we have fallen behind and with sponsors still not wanting to dump their money into NHRA, how far we have to go.
In the late seventies or early eighties Ricky Smith had that black and orange Ford Mustang ,with SRO on the door. In story tellers he said SRO " Standing Room Only " , a nightclub, paid $ 10,000 for the primary sponsorship for the whole entire race season . Do you realize it costs the Bakery $41,208.71 per day for 3 years straight years , rain or shine to sponsor that lame car ? I'm gonna call Ricky and tell him to get a sponsorship packet over to the Bakery , there giving out free money faster than Evan Knoll ! Sorry 2 soon ?
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Old 02-05-2017
HEMI_guy HEMI_guy is offline
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The sponsor could have handled their situsation better, that's for sure. But SHR did have reservations about their ability to make good on their agreement going into the deal, despite the sponsor giving them assurances. And suing sponsors can be a sketchy thing to do while pursuing others... especially when the company faced numerous setbacks last year, including a lack of product distribution, recurring mold issues, a fire in its St. Louis, Missouri, plant and termination of its vice president of sales. Some potential sponsors may see this as kicking a sponsor in the teeth while their down on their knees and think... will they do the same if our company has some setbacks? I'im sure it can be a dicey ordeal with calculated risks of unkown unintended consequences involved.
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Old 02-05-2017
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antdogbmx antdogbmx is offline
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Default Usabmx&nhra

opps was not meant to go here
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Old 02-05-2017
Yvonne* Yvonne* is offline
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I think they have a legal chance of getting any back-payments owed but I seriously doubt they'd be awarded any future payments. It sounds like the company over-reached. A big mistake for one that size.
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Old 02-06-2017
HEMI_guy HEMI_guy is offline
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Originally Posted by Yvonne* View Post
I think they have a legal chance of getting any back-payments owed
If the company has the loot to pay them. The whole mess could end up in bankruptcy court with SHR walking away with next to nothing...... plus a mountain of legal fees. Also, SHR should have never publicly stated they initially had doubts or were skeptical the sponsor could afford the deal to begin with. That leaves open the potetial for the courts to say nobody held a gun to the head of SHR to sign a deal they initially had reservations about and they should have applied more due diligence to verify the sponsor's credibility and financial abilities.
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Old 02-06-2017
Roger Gates Roger Gates is offline
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Quote:
Originally Posted by HEMI_guy View Post
If the company has the loot to pay them. The whole mess could end up in bankruptcy court with SHR walking away with next to nothing...... plus a mountain of legal fees. Also, SHR should have never publicly stated they initially had doubts or were skeptical the sponsor could afford the deal to begin with. That leaves open the potetial for the courts to say nobody held a gun to the head of SHR to sign a deal they initially had reservations about and they should have applied more due diligence to verify the sponsor's credibility and financial abilities.
Gene Hass probably needs something to have fun with anyway. Between his NASCAR teams & his new F1 venture a "Little" lawsuit may be amusing for him. Besides he may want a Bakery that has healthy stuff to give to Tony to get him in shape.
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Old 02-06-2017
Yvonne* Yvonne* is offline
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Quote:
Originally Posted by HEMI_guy View Post
If the company has the loot to pay them. The whole mess could end up in bankruptcy court with SHR walking away with next to nothing...... plus a mountain of legal fees. Also, SHR should have never publicly stated they initially had doubts or were skeptical the sponsor could afford the deal to begin with. That leaves open the potetial for the courts to say nobody held a gun to the head of SHR to sign a deal they initially had reservations about and they should have applied more due diligence to verify the sponsor's credibility and financial abilities.
I don't think a court would take aired "doubts" over a signed and legally binding contract that was handled in the proper and legal way on both sides. But I agree that it will likely land the company in bankruptcy if its drawn out over time. If the Bakery people were smart, they'd negotiate (plead for) a one time pay off of the sponsorship and close the case as quickly as possible. But it sounds like they are short on smart at this point. LOL
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