Originally written on Start 'N' Park Blog  |  Last updated 11/13/14

WELCOME, N.C. – Richard Childress Racing has advised its employees, drivers and key sponsors that Chartwell Investments is considering exiting its minority equity position in RCR.

“Since 2003, I have had a minority partner at RCR in Chartwell Investments,” said Richard Childress, president and CEO of Richard Childress Racing. “Like any private equity business, Chartwell has a duty to its investors to return capital and maximize profits in a reasonable timeframe. With my support, they have determined that now is an appropriate time to exit their investment in RCR. Chartwell has been a great partner and I will always be appreciative of our partnership. We will remain good friends.

“We have informed the key people and sponsors of RCR about Chartwell’s decision and assured them this will have no impact on the current affairs at RCR or our continued vision for strong performance on and off the track. We have advised them that if a new investor comes on board as RCR’s new partner they will be strategically chosen to help RCR continue to grow. Our family of corporate partners has all been very appreciative of our letting them know and remain committed to moving forward. I love what I do and plan to be involved in NASCAR and in running RCR for many years to come.”

“RCR is one of the elite NASCAR organizations and we are honored to be a part of the RCR family and partners with racing icon Richard Childress for close to ten years,” said Michael Shein, Managing Partner of Chartwell Investments. “During this period, RCR has continued to prosper, more than doubling the size of its business.  We are equally optimistic about RCR’s future performance both on and off the track, remaining confident in NASCAR’s long-term potential.  We have engaged The Raine Group to explore the potential sale of our interest in RCR in order to monetize our investment.”

The Raine Group is a global merchant bank focused exclusively on the digital, media & entertainment and sports & lifestyle sectors.

MORE FROM YARDBARKER

Lovie Smith denies Bucs tanked to secure #1 pick in 2015 Draft

Report: Jets will fire Rex Ryan, GM John Idzik on Monday

Braxton Miller has 'expressed interest' in Duke transfer?

Jim Harbaugh, 49ers mutually part ways

Mike Wallace benched for disciplinary reasons

Browns owner sends stern message to Johnny Manziel

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Report: Ray Allen is leaning toward retirement

Ravens clinch playoff spot

DeMarco Murray, Dez Bryant set Cowboys records in win

Report: Browns feel Josh Gordon 'has to go'

Jets contacted Rex Ryan's agent about replacements for him

Justin Gilbert inactive after being late to team meeting

10 takeaways from NFL Week 17

WATCH: Mike Tomlin goes after Reggie Nelson after game

WATCH: Ndamukong Suh steps on Aaron Rodgers

Nation's top recruit says he won't follow Jim Harbaugh

Eric Decker's wife was concerned about hubby's groin

WATCH: Lamar Miller has longest run in Dolphins history

WATCH: Pats fans serenade Pete Frates with 'Happy Birthday'

Harbaugh rumors affecting Mich. basketball ticket prices?

WATCH: Dez Bryant burns Redskins defender for TD

Detroit bar offering free food, booze if Lions beat Packers

Jameis Winston: I would throw in Richard Sherman's direction

WATCH: Nebraska safety pukes on field, keeps playing

All Sports News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.

WATCH: Suh steps on Aaron Rodgers

Browns owner sends message to Manziel

Ray Allen leaning toward retirement?

Ravens clinch playoff spot

Murray, Bryant set team records

Pats fans serenade Pete Frates

Browns to part ways with Josh Gordon?

Manziel was late after throwing party?

Amari Cooper not a fan of New Orleans

Harbaugh to Mich. is done deal

WATCH: Jennifer Lawrence supports Louisville with chant

Did Bielema do ‘Horns Down’?

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.