Red Bull GM hopeful of finding new ownership group

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WPSD Sports

CHARLOTTE, N.C. (AP) - The general manager of Red Bull Racing says he's optimistic he can find investors to keep the team going beyond this year.

The energy drink company is both the owner and sponsor of the two-car Red Bull team, and is leaving NASCAR at the end of the season.

Jay Frye said Tuesday he's talked to several potential investors about taking over the team, and is hopeful he can have a new ownership group put together within 45 days.

Frye says Red Bull's decision to leave NASCAR was a business decision based on a change in strategy. He did not elaborate. But employees were told in a Tuesday morning meeting that NASCAR does not attract the same demographic that Red Bull markets its product.

Red Bull has been in NASCAR since 2007 and fields cars for Kasey Kahne and Brian Vickers.

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