Ray Evernham sues Gillett for $19 million
We're not done cleaning up the George Gillett mess in NASCAR.
Former team owner Ray Evernham has filed suit against two companies owned by Gillett, charging that Evernham's former partner owes him $19.2 million. Why? Because Evernham had invested in Gillett's race team, and had apparently been promised a repayment of his investment along with a 5 percent annual return after the sale of the team.
"We have diligently worked to resolve this matter in good faith without resorting to legal action," Evernham said in a statement. "This matter has been pending for a period of time and we did not want to disrupt any excitement of the beginning of the race season with this unfortunate situation. We were unable to come to a fair resolution for the amounts due to me related to my sale of the previous RPM race team. Like many other vendors and creditors, my claims have been left unpaid. I am optimistic that the judicial system will deliver a fair resolution for my outstanding claims, and hope that the other people and companies who are owed money by them are fully compensated and made whole."
Gillett purchased a controlling interest in Evernham Motorsports in 2007, forming Gillett Evernham Motorsports. In 2009, GEM absorbed Petty Enterprises to form Richard Petty Motorsports. Petty and other investors bought out Gillett a few months ago, and it was that sale which Evernham says entitles him to repayment of his investment. Problem is, there's no money available for that.
Evernham is now a consultant for Rick Hendrick's automotive group, and has resisted any and all calls to return to the box for former championship teammate Jeff Gordon or any other driver.
Evernham sues former partner Gillett for $19M [NASCAR.com]
