November 22, 2008 9:08 AM
Nemechek , FRR reach contract buyout
It was probably only a matter of time.
The odds of operating a single-car Sprint Cup team out of Denver were long but Furniture Row Racing did it for three seasons. However, the nation's slumping economy has damaged hopes for No. 78 Chevrolet to make a mark in the sport.
FRR is planning to run only a limited Sprint Cup schedule in 2009 and on Friday announced a contract buyout of its driver Joe Nemechek.
"Just like the reduced schedule announcement, this buyout of Joe's contract has nothing to do with his on-track performance," team president Joe Garone said. "But our contract with Joe for 2009 was for a full schedule and we're not able to fulfill that part of the deal.
"Joe has been a great leader, mentor, and driver for Furniture Row Racing. This move is doing what is best for both Joe and our team. It doesn't require us to have him drive for Furniture Row in 2009, but it doesn't restrict him from doing what he loves -- and that's racing at the highest level every week of the season."
FRR made strides in 2008 and Nemechek was a big reason. The team had to qualify each week on speed and Nemechek got the job done, qualifying for 32 out of 36 races, earning the pole position at Talladega but the team could never put together enough strong finishes in races to climb up in owner's points into the Top 35 where qualifying wouldn't be a priority.
As was announced before, Furniture Row Companies - the team owner, primary sponsor, and one the nation's largest furniture retailers - is a privately-held entity and does not make its sales figures public. But the company is looking at retail sales trends and is tightening all expenses as a result.
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