Bobby Ginn Purchases Majority Interest in MB2 Motorsports

Discussion in 'Entertainment & Sports' started by penguin, Jul 26, 2006.

  1. penguin

    penguin g0t r00t?


    Ownership Change for NASCAR Team Takes Effect Immediately

    CELEBRATION, Fla. (July 26, 2006) -- MB2 Motorsports, which fields NASCAR
    Nextel Cup entries for drivers Joe Nemechek and Sterling Marlin, has announced
    a change of ownership.

    Real estate developer Bobby Ginn (pronounced GHIN) has purchased all of the
    shares owned by MB2 majority owner and founding partner Nelson Bowers. The
    business transaction takes effect immediately.

    Jay Frye, MB2's general manager and chief executive officer since the formation
    of the racing organization in 1996, will continue in the same capacity and
    retain his ownership in the company.

    Ginn's majority interest and Frye's interest comprise 100 percent ownership of
    MB2 Motorsports.

    Ginn is president and founder of the Celebration, Fla-based Ginn Resorts, a
    privately held resort development and management firm, specializing in exclusive
    leisure lifestyle and vacation destination communities in the United States.

    Ginn Sports Entertainment, a division of Ginn Resorts, is responsible for
    producing sporting-related events along with managing and sponsoring several
    LPGA and Champions Tour golf events in Florida and South Carolina.

    "We recognize the importance and relevance of NASCAR fans and sponsors to
    the overall success of our brand," said Ginn, a native of Hampton, S.C. "MB2 has
    outstanding partners in the U.S. Army, Waste Management, CENTRIX Financial,
    Wiley X Eyewear, Ginn Resorts and Mighty Auto Parts. The goal as the new
    owner is simple -- to work as hard as we can to build on the successes of the
    team and make a commitment to providing our race teams with the resources
    necessary to get them into Victory Lane.”

    Also announced today is that Ginn Resorts, which has been a MB2 primary
    sponsor at selected Cup events in 2006, has added 10 races to its primary-
    sponsorship package on Marlin's No. 14 Chevrolet. The sponsorship will be
    managed through Ginn Sports Entertainment.

    Regarding the sale of his shares in MB2, Bowers said, "I have thoroughly
    enjoyed all facets of being a NASCAR team owner for the past 10 years. It's
    been a memorable and fascinating ride and I wish Bobby, Jay and the entire
    MB2 organization nothing but success."

    "Nelson was one of the catalysts in the formation of MB2 and we are all grateful
    for what he has provided in his ownership role during the past 10 years," said
    Frye. "He is a great friend and will always be part of the MB2 legacy.”

    “However, we are entering an exciting new era and I look forward to working
    closely with Bobby in creating a new level of competition for MB2 Motorsports,”
    Frye added. “Along with being innovative and resourceful, Bobby is deeply
    committed to do what it takes to grow MB2.”

    Along with its Nextel Cup teams, MB2 has a driver development program in place
    with Kraig Kinser in the NASCAR Craftsman Truck Series and Jesus Hernandez
    in the Drive for Diversity program.

    The MB2 team shop is based in Mooresville, N.C.