The COVID-19 pandemic has taken a huge toll on the financial health of racing teams across the county. And many smaller NASCAR teams are finding it difficult to bear the brunt of these additional financial burdens.
According to sources, the NASCAR Cup Series team Leavine Family Racing’s management is set to put the team up for sale.
Adam Stern reports for Sports Business Journal, “Leavine Family Racing owner Bob Leavine has solicited bids for the team in recent months, according to sources, as he evaluates his future in the sport amid the financial fallout of the coronavirus pandemic. LFR is a chartered one-car team in the NASCAR Cup Series”
He adds, “Bidders could not yet be confirmed but asking price in mid to high seven figures.”
Currently, Christopher Bell is a ‘Toyota Racing Development driver’. And has won the NASCAR Truck Series championship in 2017. Last year, he joined the Leavine Family Racing team as a future prospect of Joe Gibbs Racing.
However, now with the team’s future clouded in uncertainty, things aren’t looking too good for the driver.
All the seats at Joe Gibbs Racing are occupied by the likes of Kyle Busch, Denny Hamlin, and Martin Truex Jr. And it will make it difficult for Bell to find a seat in the Cup Series.
Earlier, Bell did two full seasons in the Xfinity Series with Joe Gibbs Racing. He finished the seasons in the ‘Top-5’ spot. After that, Toyota and JGR decided to put him in the Cup Series with the LFR team.
After posting the speculated news Adam Stern writes in a Tweet, “.@CBellRacing‘s future after this year is unclear, but @JoeGibbsRacing would need to bring him in-house or find another alliance partner to loan him to for ’21 if @LFR95 was sold.”