Imago
Photo: David Bryant
Imago
Photo: David Bryant
After duking it out in a legal tug-of-war with ITG Brands over the use of the Winston Cup name, the Winston Cup museum dropped a bombshell earlier: instead of flipping the ‘Open’ sign back on, they’re pulling down the shutters for good. Museum owners Will and Christy Spencer toyed with the idea of rebranding their Winston-Salem, NC, establishment, but the price tag for a makeover turned out to be too steep.
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So, it’s time to draw the curtains for the museum, and this time, it’s not just a temporary closure. The museum is going to close its doors permanently on December 16th, 2023. The museum’s treasures are headed for the auction block as well. Up for grabs are a host of prized possessions, including Ford Thunderbirds from various years and Dale Earnhardt Jr’s rookie year paint scheme car, among other gems.
The grand finale of the NASCAR memorabilia auction is set to kick off from January 2 to 14
Since 2005, the NASCAR championship series keepsakes have been proudly showcased at the museum. However, the lion’s share of these treasures will go under the hammer at the Mecum Auto Auctions in Kissimmee, Fla, within the first fortnight of January. Raising the white flag on the museum, signaling the final stretch of their journey, the Spencers shared in a heartfelt statement, “This is not a decision we have come to lightly, but it is the necessary end of 19 wonderful years.”
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The memorabilia up for grabs is nothing short of legendary, featuring a 1996 Chevrolet Monte Carlo NASCAR, a 1997 Ford Thunderbird NASCAR, a 1996 Chevrolet Monte Carlo, a 1986 Ford Thunderbird, a 2002 Pontiac Grand Prix NASCAR along with a 1994 Ford Thunderbird driven by Bill Elliott, among several other iconic models. Enthusiasts will have the chance to place their bids on what’s being touted as the “most extensive personal collection of racing memorabilia ever to hit the auction block”. Whether in person or online, bidders can participate in what promises to be a record-setting auction day.
However, many might wonder how to came to this. What were the circumstances that culminated in the decision to hold an auction in the first place?
Background of the dispute
The main issue in the dispute revolved around who actually owned the Winston-branded NASCAR collection at the museum – the Spencers or ITG. At one point, the ongoing lawsuit also forced the closure of the museum for 60 days. The two parties eventually made a deal on September 1 to reopen the museum. But, the deal meant the Spencers couldn’t move their traveling display.
Things changed in June 2015 when ITG, part of the British company Imperial Brands Plc, spent $7.1 billion to buy the Winston, Salem, Kool, and Maverick brands from Reynolds American Inc. and Lorillard Inc. Spencer says he created the Winston logo, which was the biggest part of their argument over the trademark.
Reflecting on the situation, the museum’s owner shared, “After the past couple of years, we just can’t afford to keep it open and we’ve got to reinvent ourselves. We’ve spent the past couple of years dealing with this litigation and so now the time has come to move forward. It’s just not feasible for us to continue to operate the museum.”
He further added, “The museum has never been a money generator. It was never designed to be a revenue generator was really a way to fuel Will’s passion for the motorsports industry and give hardcore race fans a place to come and see some unique pieces of history.”
This is certainly sad news for the motorsport world.
Written by
Edited by
Ariva Debnath