Penske merges teams; Wallace out of a job
By Tim Packman, Turner Sports Interactive
November 27, 2001
1:09 PM EST (1809 GMT)
MOORESVILLE, N.C. -- Penske Racing announced Tuesday morning it will immediately close down the No. 12 Ford team.
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Mike Wallace
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Penske Racing will be a two-car entry in the 2002 NASCAR Winston Cup Series, with Rusty Wallace driving the No. 2 Miller Ford and Rookie of the Year candidate Ryan Newman in the Alltel Ford, which may switch from No. 02 to No. 12. Both cars would share ExxonMobil associate sponsorship.
The announcement puts to rest speculation about the team's future. Mike Wallace stepped in to finish out the year after Jeremy Mayfield was released in October.
"If I told you I was happy, I'd be lying to you," Mike Wallace said. "I will say one thing, Penske Racing lived up to their end of the bargain on this deal. They said I could come in and drive the No. 12 for the rest of the year and I did. They committed to that much and did just that.
"For me, it was an honor and privilege to drive a Penske-owned car. I just hope we showed a few owners looking for drivers out there that I can drive. It's a shame this deal wasn't able to stay together."
Penske marketing director Wally McCarty had nothing but praise for Wallace.
"Let me tell you something about Mike," McCarty said. "He is the epitome of a class act. He has not only proven to the racing world what he can do if you put him in good equipment, he was also a great catalyst for motivating the team."
The number switch for Newman would be more a matter of protecting owner's points.
"We have all intentions of trying to get the No. 12 on the car Ryan will be driving," McCarty said. "That will be up to NASCAR.
"What took place on Tuesday was a consolidation of team operations with Penske Racing South. It was a business decision.
Our primary sponsor, Exxon Mobil Corp., is looking at reallocating some of their marketing dollars and to refocus how they are going to participate in NASCAR.
"They're not going anywhere, as they will be associate sponsors on our two team cars.
As of Tuesday, there was no official word about which team members would be retained or let go. The status of crew chief Peter Sopenzo was also not known.
"Some of the team members will be retained in positions where the consolidation needs ramping up," McCarty said. "Unfortunately, some team members will be released from their duties and get a standard type of compensation package that Penske Racing provides."
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Ryan Newman
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In eight races, Mike Wallace had three top-15 finishes, one a career-best second-place at Phoenix. He did have a chance to speak to the crew after the announcement.
"I told each and every one of them, they were a championship-caliber team," Wallace said. "They will roll into Daytona next year 20th in points and that is a pretty good start. That's what make this so much tougher, a team 20th in points is having to go through this.
"I had myself mentally prepared for whatever the decision was going to be. Whether it was good news or bad, I was ready -- or so I thought. Now, it just hurts to have to go back out there and find a job again.
"I just hope some Cup or Busch Series owner out there has seen what I can do and am capable of doing."
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