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Lack of sponsorship forces Swan restructuring

Swan Racing has been forced to effectively sell off its Sprint Cup entries to rival teams after a financial shortfall caused by a lack of sponsorship.
Swan Racing has announced what it calls a successful restructuring of the team which involves handing over its two NASCAR Sprint Cup Series entries to be operated by other teams.

In the case of the #26 that is being driven this season by Cole Whitt, the team has been merged into BK Racing with immediate effect. Whitt will retain the drive under the new partnership arrangement.

The #30 team has been sold to John Cohen of XxxTreme Motorsports, which will operate the team going forward. However the driver of the car so far this season, Parker Kligerman, will not be moving with the team and stays at Swan Racing - albeit without a car, at least in the short term.

Instead, the #30 will henceforth be in the hands of veteran driver JJ Yeley. Stephen "Bones" Lane will serve as crew chief and be joined by several other former Swan Racing crewmembers.

"I want to first thank our employees, fans, and others in the NASCAR industry for their patience and understanding over the past several days while we work out the future of Swan Racing," said team owner Brandon Davis in a statement released by the team on Wednesday.

"As previously stated, the team is restructuring due to a lack of additional funding," he continued. "However, over the past couple weeks we worked tirelessly to find an alternative to ending operations. Fortunately, we were able to find a home for the #26 team and the #30 team.

"I am very relieved to know that the #26 and #30 teams will be in good hands and will continue to compete the remainder of the 2014 NASCAR Sprint Cup Series season," said Davis. "Most importantly, most of the team members have the opportunity to continue their employment in the sport and to support their families."

The statement said that this was the best way that the team had found to save the jobs of the crews, the drivers, and to keep those teams competing throughout the 2014 season. As for Kligerman, Davis said that he was still working hard to get the 23-year-old from Westport, Connecticut back into competition as soon as possible.

"Swan Racing is exploring any and all options to keep Parker Kligerman on track throughout the season," said Davis, promising updates on the situation as soon as they were available. "We are encouraged by the response we have received from interested parties. Parker continues to be one of the most talented young drivers in NASCAR. He brought this racing team one of its strongest results in his first race with us, and we are certain of his success in the future."

"Although it's unfortunate we are having to scale back, I look forward to the future and the exciting things that I'm confident we will accomplish at Swan Racing or with another team," said Kligerman.

"I value the relationship that I've had with Brandon Davis and am very grateful for him giving me an opportunity to compete in the NASCAR Sprint Cup Series," he added. "Whether I continue to race with Brandon and Swan Racing or end up with another team, I will always give it my all on and off track to be the best I can be."



Related Pictures

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Cole Whitt at Las Vegas Motorsport for testing on March 6, 2014. (Photo Credit: Todd Warshaw/NASCAR via Getty Images)
Cole Whitt on track at Auto Club Speedway in Fontana, California for testing on March 21, 2014. (Photo Credit: Kevork Djansezian/NASCAR via Getty Images)
Parker Kligerman at Las Vegas Motorsport for testing on March 6, 2014. (Photo Credit: Todd Warshaw/NASCAR via Getty Images)
Denny Hamlin and Darian Grubb, the crew chief of the #11 Joe Gibb Racing Toyota, consult in the garage area during testing at Charlotte Motor Speedway. (Photo Credit: Jared C. Tilton/Getty Images for NASCAR)
Jeff Gordon, driver of the #24 Axalta Chevrolet SS, races to win Sunday, July 27, 2014 the Brickyard 400 Nascar Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. Gordon, who leads the NASCAR Sprint Cup Series (NSCS) standings, has won at the Brickyard a record 5 times, the first one in 1994. (Photo by Christa L. Thomas/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Axalta Chevrolet SS, races to win Sunday, July 27, 2014 the Brickyard 400 Nascar Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. Gordon, who leads the NASCAR Sprint Cup Series (NSCS) standings, has won at the Brickyard a record 5 times, the first one in 1994. (Photo by Harold Hinson/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Axalta Chevrolet SS, celebrates his win Sunday, July 27, 2014 of the Brickyard 400 Nascar Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. Gordon, who leads the NASCAR Sprint Cup Series (NSCS) standings, has won at the Brickyard a record 5 times, the first one in 1994. (Photo by Rusty Jarrett/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Axalta Chevrolet SS, kisses the Brick after his win Sunday, July 27, 2014 of the Brickyard 400 Nascar Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. Gordon, who leads the NASCAR Sprint Cup Series (NSCS) standings, has won at the Brickyard a record 5 times, the first one in 1994. (Photo by Rusty Jarrett/HHP for Chevy Racing)
The #24 Axalta Chevrolet crew celebrates in pit lane after driver Jeff Godron`s victory in the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Matt Sullivan/Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, celebrates in Victory Lane after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Chris Trotman/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, celebrates by kissing the bricks after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Patrick Smith/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, salutes the fans after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Matt Sullivan/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, takes the chequered flag to win the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Patrick Smith/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, celebrates with a burnout after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Patrick Smith/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, center, celebrates with team owner Rick Hendrick, left, daughter Ella Sophia and wife Ingrid Vandebosch by kissing the bricks after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Rainier Ehrhardt/NASCAR via Getty Images)
Kevin Harvick, driver of the #4 Jimmy John`s Chevrolet, leads a pack of cars into the pits during the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana.  (Photo Credit: Chris Graythen/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, races the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana.  (Photo Credit: Patrick Smith/NASCAR via Getty Images)
Kasey Kahne, driver of the #5 Time Warner Cable Chevrolet, leads during the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana.  (Photo Credit: Brian Lawdermilk/NASCAR via Getty Images)

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