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

Australian cricket player dies from head injuries

Wrigley Field bleacher renovation may be delayed

Yankees wanted Rollins but Phillies' price was too high

Pop misses game for medical reasons; Messina takes over

John Beilein upset with ESPN for late start time to game

Tyson Chandler felt like Knicks' scapegoat at times

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Fred Jackson has 'no respect' for Donte Whitner

Devon Still responds to unpaid child support allegations

Diamondbacks sign Cuban slugger Yasmany Tomas

Josh Gordon felt alienated by some in Browns organization

Jerry Jones: I'm a big admirer of Robert Griffin III

Raiola fined for uneccesarily striking Pats' Zach Moore

CM Punk opens up about leaving WWE, says he'll never return

Steelers turned down chance to be called 'America's Team'

Report: Small chance Raiders-Rams could be moved to Indy

Todd Gurley begins rehab after surgery on knee for torn ACL

Brodeur to practice with Blues

OSU player posts Michigan player's girlfriend as his 'WCW'

Jim Harbaugh's family may not eat turkey thanks to NBC

Ole Miss' The Grove threatened by Mississippi State fan

Is it time for the Redskins to move on from Robert Griffin III?

Top 10 fantasy football turkeys for 2014

WATCH: Coyotes lose in ugly fashion, score own goal in OT

Warriors are having tons of fun on team plane

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.

CM Punk opens up about leaving WWE

Wrigley renovation may be delayed

Steelers could have been America's Team

John Beilein upset with ESPN

Should Washington move on from RG3?

Dominic Raiola fined for cheap shots

Game of the week: Kansas City Chiefs vs. Denver Broncos

Rose leaves with injury again

WATCH: Pierce signs for fan during game

Report: McCoy to start over RG3

Braxton Miller headed to Oregon?

10 most one-sided college football rivalries

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.