It takes millions of dollars each year to field a single car for a NASCAR Cup Series team. And on the morning of August 4, race fans learned just how serious it can be to run a racing team when Leavine Family Racing announced that they have sold the team. The team noted that the deal included everything LFR owned – charter, building, and inventory. The only items not included in the sale were those that belonged to Joe Gibbs Racing with whom Leavine had an alliance.
Noting that the announcing the news of a new owner is up to them, Leavine Family Racing’s president Jeremy Lange would not reveal exactly who bought the team.
When the NASCAR racing season ends in November, Leavine Family Racing will cease to exist. LFR has been a part of the NASCAR Cup Series since 2011 and currently fields the number 95 car driven by Christopher Bell.
When the Covid-19 virus and ensuing pandemic shutdown all sporting and entertainment events in March, NASCAR also took an extended break of seven weeks. The lack of racing and sponsor income has taken its toll on the team. Leavine’s WRL General Contractors in Texas has also suffered due to lack of the ability to work.
In a statement Leavine said, “this decision has not been made lightly. Family has always been a part of the team’s name and this is how we view every member of our race team — as our family. There is no good time to make this announcement, but doing it earlier allows our people to explore employment opportunities, for next season, to provide for their families. There will be opportunities with the new owners which was important to our decision.”
David Starr, Michael McDowell, Kasey Kahne, Matt DiBenedetto, Ty Dillon, and Scott Speed have all driven for Leavine Family Racing.
feature photo credit: By Zach Catanzareti Photo – christopher bell, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=91875256