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Sprint Cup
CUP: Evernham Settles Lawsuit With Gillett
Ray Evernham filed a $19 million lawsuit last February against former business partner George Gillett...
Ray Evernham (Pictured) started his own NASCAR team in 2001 before selling to George Gillett in 2007. (Photo: LAT Photographic)
Ray Evernham says he has plenty of projects for 2012, and he will approach each without the hassle of dealing with part of his past as he has settled a $19 million lawsuit with former business partner George Gillett.
Evernham, who sold the majority of his Evernham Motorsports NASCAR Cup organization to Gillett in 2007, filed the $19 million lawsuit in February 2011 against the Gillett company that ran the race team (Gillett GEMS) as well as Gillett’s Booth Creek Management Corporation over unpaid shares of the former Richard Petty Motorsports.
The former championship-winning crew chief, team owner and ESPN analyst filed documents to dismiss the case Thursday and Friday in U.S. District Court in Charlotte. No details of a settlement agreement were filed.
“I made a business decision to accept pennies on the dollar, but more so it’s time to close this chapter in my life and move forward,” Evernham said in a phone interview Tuesday. “I’ve got a lot of really good things happening for 2012 and I just didn’t want to drag this along.”
Having remained a minority owner in Gillett Evernham Motorsports as well as Richard Petty Motorsports after the Gillett Evernham-Petty Enterprises merger in 2009, Evernham in his complaint asked for $19,183,203 he claimed he was owed after the sale of RPM in November 2010 to Richard Petty and a group of investors.
In his lawsuit, Evernham claimed that the sale of RPM triggered clauses in his agreements with Gillett for Evernham to be paid that money.
In their response to the lawsuit, the Gillett companies denied that Evernham was entitled to the money sought, that his demands were “inconsistent” with the language in the contracts.
“I felt justified in filing, obviously,” Evernham said. “I want to be sure that everyone knows and understands that I did everything I was supposed to from my side.”
Evernham, who won three Cup titles as a crew chief for Jeff Gordon, started his own team in 2001 before selling to Gillett in 2007. He later did broadcast work for ESPN but left that position to work for Rick Hendrick in his automobile retail performance parts division. Evernham also owns a dirt track in North Carolina, has developed a dirt car for beginning racers, works with the Ronald McDonald House of Charlotte for which he has pledged $1 million and also plans on working with the North Carolina Autism Society.
His future plans could include more television – he did some work with SPEED last year but does not have a contract for television work yet in 2012.
“I’m really excited about restoring some classic older race cars and hopefully building some television shows around that,” Evernham said. “We’re working on all that stuff right now.
“We’ve got some exciting things going on and a whole new door open. … I’m happy where I’m at but I’m not content. So that’s just me, right? We’ve got plenty to do. I just don’t want to carry anything negative forward to 2012, so I’m glad that we were able to close the book [on the Gillett lawsuit].”
In addition to being a former NASCAR team owner, Gillett is a former owner of the Montreal Canadiens hockey team and Liverpool soccer team.
SceneDaily.com • Greg Biffle honored with NMPA quarterly Spirit award
Evernham, who sold the majority of his Evernham Motorsports NASCAR Cup organization to Gillett in 2007, filed the $19 million lawsuit in February 2011 against the Gillett company that ran the race team (Gillett GEMS) as well as Gillett’s Booth Creek Management Corporation over unpaid shares of the former Richard Petty Motorsports.
The former championship-winning crew chief, team owner and ESPN analyst filed documents to dismiss the case Thursday and Friday in U.S. District Court in Charlotte. No details of a settlement agreement were filed.
“I made a business decision to accept pennies on the dollar, but more so it’s time to close this chapter in my life and move forward,” Evernham said in a phone interview Tuesday. “I’ve got a lot of really good things happening for 2012 and I just didn’t want to drag this along.”
Having remained a minority owner in Gillett Evernham Motorsports as well as Richard Petty Motorsports after the Gillett Evernham-Petty Enterprises merger in 2009, Evernham in his complaint asked for $19,183,203 he claimed he was owed after the sale of RPM in November 2010 to Richard Petty and a group of investors.
In his lawsuit, Evernham claimed that the sale of RPM triggered clauses in his agreements with Gillett for Evernham to be paid that money.
In their response to the lawsuit, the Gillett companies denied that Evernham was entitled to the money sought, that his demands were “inconsistent” with the language in the contracts.
“I felt justified in filing, obviously,” Evernham said. “I want to be sure that everyone knows and understands that I did everything I was supposed to from my side.”
Evernham, who won three Cup titles as a crew chief for Jeff Gordon, started his own team in 2001 before selling to Gillett in 2007. He later did broadcast work for ESPN but left that position to work for Rick Hendrick in his automobile retail performance parts division. Evernham also owns a dirt track in North Carolina, has developed a dirt car for beginning racers, works with the Ronald McDonald House of Charlotte for which he has pledged $1 million and also plans on working with the North Carolina Autism Society.
His future plans could include more television – he did some work with SPEED last year but does not have a contract for television work yet in 2012.
“I’m really excited about restoring some classic older race cars and hopefully building some television shows around that,” Evernham said. “We’re working on all that stuff right now.
“We’ve got some exciting things going on and a whole new door open. … I’m happy where I’m at but I’m not content. So that’s just me, right? We’ve got plenty to do. I just don’t want to carry anything negative forward to 2012, so I’m glad that we were able to close the book [on the Gillett lawsuit].”
In addition to being a former NASCAR team owner, Gillett is a former owner of the Montreal Canadiens hockey team and Liverpool soccer team.
SceneDaily.com • Greg Biffle honored with NMPA quarterly Spirit award
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