Friday, April 13, 2007

Earnhardt kids: "We want control" of DEI


From TSN.ca

"Fifty-one (per cent) is the right number because that gives us control," said Kelley Earnhardt Elledge, Junior's sister and business manager. "We'll take 75 or 95 or whatever we work out. At the end of the day, 51 gives you control. And we want control."

Earnhardt is in the final year of his contract with Dale Earnhardt Inc. and has made owning a share of the company a major issue of his negotiations. He raised the stakes even higher in February when he said he actually wanted 51 per cent of DEI - not just a piece of the team.

Contract talks were briefly halted after Earnhardt Elledge had surgery last month to remove a tumour near her pancreas. Although still recovering, she said she recently resumed talks with DEI president Max Siegel, and the brother-sister tandem is still asking for majority ownership.
The company has been run by Earnhardt's widow, Teresa, since his death in the 2001 Daytona 500.

"The idea is that the company would be left to the children, and we want to make sure that there is a formidable business left there and we can take on for our generation and then our children and then on and on," Earnhardt Elledge said. "It's very important to us. It's just a matter of us getting on the same playing field."

... continued at the link above.

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