Swan Racing evaluating its ‘ability to continue to compete’ in Sprint Cup

[bigbadbrother]

The start of the 2014 NASCAR Sprint Cup Series season has not gone according to plan for Swan Racing, and now it appears the team is paying the price.

Despite backing from sponsors such as 50 Cent's SMS Audio and Speed Stick Gear, a lack of sponsorship dollars has the team looking for other options.

"Swan Racing is in the process of reviewing its current situation and the ability to continue to compete in the NASCAR Sprint Cup Series," the team said in a statement released Thursday. "The team has been unable to secure the kind of sponsorship required to effectively operate the team. As a result, the team management is exploring every available option. We hope to be in a position to provide a detailed update in the near future."

With rookie drivers Cole Whitt and Parker Kligerman behind the wheel of the team's two cars, the outlook for the 2014 season was modest. However, in the first eight races, the team has struggled with poor results and wrecked race cars. In all, Swan Racing has wrecked at least 10 cars in practices and races so far this season.

Whitt leads the team with a best finish of 18th at Auto Club Speedway, but also has seven finishes of 27th or worse and sits 34th in points. Kligerman's year has been more of a struggle. He has failed to finish four of the eight races so far, has five finishes of 40th or worse and sits 38th in the series standings.

While the team's statement said nothing of downsizing, co-owner Anthony Marlowe took to Twitter to express his support and commitment to Whitt.

[bigbadbrother]

Swan Racing has restructured its two-car Sprint Cup team, the organization announced Wednesday afternoon.

Minority owner Anthony Marlowe has merged his ownership stake in the No. 26 Toyota driven by Sprint Cup rookie Cole Whitt with BK Racing, which now expands to a three-car operation. Meanwhile, the No. 30 team has been sold to John Cohen, owner of XxxTreme Motorsports.

Whitt will make his first appearance under the BK banner in Saturday night’s Toyota Owners 400 at Richmond International Raceway.

“I am thrilled about the merger with my new partners at BK Racing,” Marlow said in a Swan media release. “My friend Ron Devine and the BK ownership group really stepped up to enable me to keep the No. 26 on the track.”

Whitt will remain behind the wheel of the entry starting with Saturday’s Toyota Owners 400 at Richmond International Raceway.

As for the No. 30 team, Sprint Cup rookie Parker Kligerman is out, to be replaced by NASCAR veteran JJ Yeley. Stephen Lane will remain as crew chief, and several of Swan Racing’s crewmembers will also be staying with the team.

XxxTreme has struggled itself this season, having entered but also failed to qualify for four Cup events.

It’s expected that Yeley will be in the No. 30 at Richmond.

Davis was forced to take the actions he has due to expected sponsorship that failed to materialize. In addition to Marlowe, the team had two other minority investors: former NFL star Bill Romanowski and rapper Curtis “50 Cent” Jackson.

“Over the past couple weeks, we worked tirelessly to find an alternative to ending operations,” Davis said in a statement. “Fortunately, we were able to find a home for the No. 26 team and the No. 30 team thanks to Anthony Marlowe and Jonathan Cohen.

“I am very relieved to know that the Nos. 26 and 30 will be in good hands and will continue to compete the remainder of the 2014 season. Most importantly, most of the team members have the opportunity to continue their employment in the sport and to support their families.”

Kligerman remains under contract to Davis and the remnants that remain of Swan Racing. Davis is reportedly looking at ways to get Kligerman into another ride, but nothing has materialized as yet.

“Although it’s unfortunate we are having to scale back, I look forward to the future and the exciting things that I’m confident we will accomplish at Swan Racing or with another team,” Kligerman said in a statement.

Kligerman, 23, has struggled significantly in his first full season in the Cup series. In eight starts, he has four DNFs and a season-best finish of just 29th in the season-opening Daytona 500.

“I value the relationship that I’ve had with Brandon Davis and am very grateful for him giving me an opportunity to compete in the NASCAR Sprint Cup Series,” Kligerman said. “Whether I continue to race with Brandon and Swan Racing or end up with another team, I will always give it my all on and off track to be the best I can be.”

Davis added in his statement that other organizations have shown interest in Kligerman.

“We are encouraged by the response we have received from interested parties. Parker continues to be one of the most talented young drivers in NASCAR,” Davis said. “He brought this racing team one of its strongest results in his first race with us, and we are certain of his success in the future.”