Figure a few here have had or do have a partnership race deal.

I have a fellow wanting to possibly do a deal where he supplies money for entry,travel and some of the cost for running car. I supply car trailer, truck maintain car,parts for car. He wants to attnde some races and work on car some and get company exposure so it is tax write off too of coarse,


While I am not craZY ABOUT IT IT WOULD CLEAR ONE obstacle of running the car more and allow me to get some parts I want for the car and a few backup parts. I think keeping ownership of all parts and pieces seperate is a plus in case shyt happens.

If you have had a partner in racing good or bad lets chat some. If you have not your opinion will be taken at face value to speak.

Get everything in writing. No I said you said or promise. Spell it all out up front as much as possible. While not same as your deal I’ve been asked to drive for people on three different cases. In first the guy sold it in writing it the car before first race and then didn’t bother to tell me. He just never arrived at the track with the car. I had to call him to find out. Other two as soon as I said let’s put it in writing who is responsible for what they began with what my word isn’t good for you? I told them not when I’m driving your car. Ended up walking away in both cases. Good that I did too because both ended up being a big s**t show all the way around.

X2

If you need help THAT badly you need to park the car until you can afford to participate in this sport. I've never seem this work out for either "Partner" but have seen it permanently end a great long term relationship. They never work out the way that was intended.

Bob

Not disagreeing that is the norm. I have seen it work in two deals. Both different than this, one owned and paid bills and other drove splitting money. Kind of like deals above that did not work. One I know the guys well and it lasted 20 years until mone man passed away. the other half continues to race now.

As for needing help or parking. I can run car, just not near enough. Parking not option. For reason I will not go into, car has to be run as much as possible now and in near future . Extra cash will help with that. Option two the almost 2billion lottery not best bet, but damn sure going to try like hell for it.LOL

I've driven for a few people and had a couple drive my Nova. Our deal has always been:
-driver pays entry fee
-driver pays for fuel and tires
-driver got car to the track
-owner pays for parts and upkeep on car
-owner gets any and all business / tax write-offs

Most I drove for, we split winnings 50/50. One was 50/50 after entry fees and expenses.

Nothing was in writing, our agreements were done with a handshake.

quote:

Originally posted by Tom Reyer:
I've driven for a few people and had a couple drive my Nova. Our deal has always been:
-driver pays entry fee
-driver pays for fuel and tires
-driver got car to the track
-owner pays for parts and upkeep on car
-owner gets any and all business / tax write-offs

Most I drove for, we split winnings 50/50. One was 50/50 after entry fees and expenses.

Nothing was in writing, our agreements were done with a handshake.

Pretty much the same. Had a very long and successful relationship with Terry Knott driving his Dart Sport in Stock.

Had two partnerships in years past. Both were great friends and still are but I bought them out and ran the car myself.

I just do better as a one man team. Go when I want, where I want, come home when I want.

so far looks like toss up and mostly dependent on people and personality match.

I've had 3 deals driving for owners of their race operations at different levels. They were all good deals & enjoyed/learned from them all. I'll start with my 2nd gig.

I drove for a good guy that was probably my best deal money wise for racing. I raced the local, divisional & national events running primarily S/C.

The deal:
- I used his whole racing operation; truck, trailer, race vehicle, tools, spare parts, motors/trans & etc.
- He paid the entry fees, travel expenses, fuel & gave me cash for incidentals.
- Had to break the cherry on the race vehicle.

My side:
- Had to compete
- Drove to events
- Did the maintenance
- I broke the vehicles cherry & tuned it to be competitive.

There are always the downsides also, but I'll leave that at "learned from them all". We are still friends to this day. Thank-You for the paid ride!

2BKing

This is lot like sponsor deal in fact it is just money to cover cost. Guy does want to go to few races. Everything owned by me and only thing I see happening is him getting mad and cutting off funds and figure that would be result of my actions.

Understand everything in writing part but for reason not going into he rather not write everything down as to money amounts or what happens with any winnings. All he asked is company name on car and any check written are a promotional write off for him. Most here will read what need to be into that.

quote:

Originally posted by wideopen231:
This is lot like sponsor deal in fact it is just money to cover cost. Guy does want to go to few races. Everything owned by me and only thing I see happening is him getting mad and cutting off funds and figure that would be result of my actions.

Understand everything in writing part but for reason not going into he rather not write everything down as to money amounts or what happens with any winnings. All he asked is company name on car and any check written are a promotional write off for him. Most here will read what need to be into that.

Maybe you should delete this evidence of this thread soon then.

Worst "Deal" I ever witnessed or even heard of was a local S/G Racer told his sponsor that if he didn't win a NHRA Divisional event in the first year the sponsor would not only get all his money back but the he would give him the race car as well.

He didn't, never saw the car again.

Bob

stupid statement but maybe the sponsor paid to have the car built and the deal was contingent on the driver returning the car.

Originally the car ('68 S/G Camaro) belonged to the driver but was built with some of the sponsors money. Obviously his expectations exceeded his ability, never saw it get past the second round.

Costly error.

Bob

I think the only way this can work is if he wants to ride along he pays for all the fuel/rooms/food.

It's all consumed and a great expense yet he had nothing to do with your car/parts/rig.

No commitment of success. He doesn't like what he sees he quits going.

This sounds more sponsor than owner/driver agreement. If it's a sponsorship, he will want exposure, and round wins in drag racing is the best chance of that, and from my understanding, this car hasn't been out much.

I wouldn't start planning on parts you want to buy.

He's just a sponsor. "Write off" is easy.

His best exposure and most bang for his bucks is to have his promotional graphics on your trailer, NEVER on the race car. The race car gets exposure to 50 or 60 people, for 15 seconds at a time, the trailer is on the highway exposed to hundreds if not thousands of people for HOURS each trip.

It's much better exposure on the highway, and even when parked, and he avoids the liability of a racing accident claim.

His main reason for the offer is he wants to see the car on track more. The write-off is a side benefit. The name on the trailer would be more exposure which he really cares nothing about plus to my understanding of dot which changes with everyone asked, could cause issues with no cdls. As it is a hobby with no money and just for fun, my story and sticking to it.