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Published on July 8th, 2008 | by Michael J Smith

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DEI Not For Sale, For Now

ESPN is reporting that Max Siegel, president of Dale Earnhardt Inc., said that DEI is not seeking a potential buyer — at least not right now.

It had been reported earlier that DEI hired Bear, Stearns, & Co. Inc. to find a potential buyer for the company.

Siegel said:

We have not engaged Bear, Stearns or Goldman Sachs or anyone else. We are contacted all the time by outside firms about getting involved in the sport. We are not for sale right now. Nothing is imminent.

Siegel noted that DEI is approached frequently about potential opportunities and investments. And while he would not rule that out as an option, he did reiterate that the company has not approached anyone.

DEI, Truex Close To Extention; Hard Rock, DEI In Talks About Sponsorship Deal

In related DEI news, Jayski is reporting via Captain Thunder Racing that Mark Martin’s new deal with Hendrick Motorsports should free up around $8 million for DEI next season, which should make it easier to pick up Martin Truex Jr.s’s option next season.

The team is said to be closer than ever to locking up Truex through 2012 in the No. 1 car.

DEI is also seeking sponsorship, should U.S. Army decide to move from the No. 8 car at season’s end. Siegel was reportedly meeting with officials from Hard Rock Hotel & Casinos about potentially sponsoring one of the team’s cars next season.

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About the Author

Michael J. Smith is a NASCAR enthusiast and blogger. In addition to founding this website, Michael is a journalist with over a decade of experience writing for prestigious media organizations.



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