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CUP: GEM Files Lawsuit Against Robby Gordon
Written by: SceneDaily.com
SceneDaily.com   
09/05/2008 - 09:47 AM
Richmond, Va.
 
GEM claims in court documents that Robbie Gordon has talked to other teams about merging. (Marc Serota/Getty Images Photo) ยป More Photos

Gillett Evernham Motorsports has filed suit against Robby Gordon saying the owner/driver of Robby Gordon Motorsports violated terms of a tentative agreement that would have sold his team to GEM for $23.5 million earlier this year.

The deal, agreed to Jan. 29, was pending an audit and other due diligence from GEM, which could have adjusted the price.

If the deal had gone through, Gordon would have had a four-year driving contract with GEM that would have paid him $3 million annually plus 45 percent of race winnings as well as insurance and other provisions customary for NASCAR driver agreements – a package likely worth at least $5 million annually. Gordon also could have had a spot on the team’s board of directors. GEM would have acquired Gordon’s
shop and property in Charlotte.

As part of the agreement, GEM pledged to provide Gordon with all “racing infrastructure” and to support Gordon’s car “in substantially the same manner in which GEM supports its most supported car in the NASCAR Sprint Cup” for the 2008 season.

Attention Race Fans! Play SPEED's 'CHASE For The FANTASY CUP' Pick a team of 5 championship drivers every week... Compete throughout the 10 CHASE race weeks. Cash prizes are awarded to teams with the most year-to-date and weekly points!
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