“Ford stepped forward and offered Carl an incentive program,” said Roush to Sirius XM NASCAR Radio’s Sirius Speedway with Dave Moody. “They also offered up a Ford stock program that will come to fruition after the third year of his contract is complete.” Roush admitted that there is “still some work to do” on sponsorship for 2012; both for Edwards and other members of the Roush Fenway Racing stable. “The 3M package for Greg Biffle is done and discussions are ongoing for Matt Kenseth and David Ragan," he said. "We can see our way more than 50% through Carl’s program, right now, but the day is past when you can rely on one sponsor to pay the full ticket for any driver. Sponsors like that are fewer and farther between than they were even a few years ago, but we will continue to work hard to put these various packages together.”
What I notice here are the phrases "incentive program" and "will come to fruition after the third year". That doesn't sound like up front, bonus money to me. Dave, I'm guessing most driver contracts contain some kind of performance clause. Is that true?
ReplyDeleteTony
Think Carl would still sign after yesterday's stock market drop? Three years is a long-time in the stock market world, he better hope the Ford stock holds value. Either way Jack got his way.
ReplyDeleteMost contracts do indeed include performance-based incdntives. Not many (at least that I know of) include a stock offering.
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