Oakwood Homes not to sponsor APR in 2002

April 23, 2001
12:54 PM EDT (1654 GMT)

GREENSBORO, N.C. -- Breaking up is definitely hard to do but usually the hardest when neither party wants to do it. But that is what is happening with Oakwood Homes Corporation and Andy Petree Racing, Inc.

Oakwood Homes will not return as Joe Nemechek's sponsor in 2002.

Because of the current state of the manufactured housing industry, Oakwood Homes will not be a primary sponsor on Joe Nemechek’s #33 Oakwood Homes Chevrolet beginning next season. That means Petree is seeking sponsorship.

"We would like to be able to continue our association with Andy Petree Racing, Inc. and know Andy would like for us to stay," said Mike Taylor, Senior Vice President, Oakwood Homes Corporation. "The fact of the matter is we are not in a position to continue our sponsorship of the #33 car after this season.

"We told Andy that because of ongoing cost reduction initiatives at Oakwood Homes, because of the deep downturn in the manufactured home industry, we are simply not able to exercise our option to extend, for a third year, our primary sponsorship," Taylor said. "This has been a tremendous association for us and one we have thoroughly enjoyed and appreciated. Outside forces, things that have nothing to do with the race car, are dictating this."

Petree, who also owns the #55 Square D Chevrolet of driver Bobby Hamilton, said he understood Oakwood’s situation and also regrets Oakwood Homes will not be able to continue sponsorship of the #33 car after the 2001 season.

"Everybody on our race team has really enjoyed working with the people at Oakwood Homes. They have been great to us and true supporters in every sense of the word," Petree said. "I feel bad for them because I believe they would have loved to have remained a part of this and, without the problems in their industry right now, most likely would have.

"Now we’ve got to really beat the bushes and find sponsorship for this team," Petree added. "I feel really positive that someone is going to realize what a strong organization this is and come on board. Oakwood is working with us in every way they can, including allowing a new sponsor to begin before this season is out if they want to. That’s pretty big of them, and I really appreciate that."

Said Taylor, "Andy Petree Racing is a tremendous marketing vehicle. We’ll do everything we can to assist Andy in securing a primary sponsor for the #33 car for next season. If finding that sponsor means we have to back off before this year is out, we would do that. We are fans of not just the sport and not just these two great race teams, but fans of the work-ethic and strong organizational skills at Andy Petree Racing Inc."

Andy Petree Racing is coming off an incredibly successful run at the 2.66-mile Talladega (Ala.) Superspeedway Sunday, which saw Hamilton win the race and Nemechek finish sixth. APR was the only team able to have all of its cars lead the race, and continued the strong working and team relationship Petree has developed.