I only hope that they can find the funds needed to keep going but it looks like they have tried every avenue available to them. They have resorted to "appealing" to the corporate sector to help out, doesn't look good for the future of DJR.
As reported in today's Sydney Daily Telegraph
"Who has $2m to save an Aussie Icon"
Dick Johnson Racing, the team founded on public donations after the famous "rock" incident at Bathurst is again in need of urgent financial aid to survive.
This time though, the depth of the problem is beyond the reach of the mum and dad fans who rallied to Johnson by sending him spare cash in 1980. DJR need a major corporate sponsor for 2007 to the tune of $2 million to $3 million dollars after losing long time backer Shell, then losing money in a disastrous deal with the failed Westpoint property development group.
Johnson formed the first professional motor racing team in Australia after the 1980 incident but the sponsorship setbacks have drained team and personal financial resources.
"We've worked hard for 30 years. I've put every cent I've got into making motorsport my passion and my career but I'm not sure how much longer we'll survive without corporate Australia's backing," Johnson said yesterday
Steve Chalker, the managing director of DJR, backed the appeal, saying "Dick is a household name and with the unfortunate passing of Peter Brock, he is now the sport's living legend.
"He is our elder statesman. Someone has to be able to see a marketing opportunity to associate their brand with someone who is a great Australian and a great Australian larrikin."
Johnson won the Australian touring car championship a record 5 times and Bathurst three times before retiring in 1999 to run the team.
DJR lost a lucrative Shell sponsorship in 2004 after 18 years before a four-year deal with Westpoint lasted less than 12 months.
After losing a significant amount of money in the Westpoint debacle, Johnson's V8 racing team was backed this year by two of his own recently set-up companies.
While costs in modern V8Supercar racing vary greatly, insiders say an average team requires around $7 million a year with a major naming rights sponsor worth $2m to #4m.
"We lost Westpoint in November and just didn't have time to find a naming-rights sponsor." Chalker said
"We had no choice but to use our own businesses. But to ask two new businesses to fund a V8 team is pretty ambitious.
"Dick has sustained the business out of his own pocket over the past 12 months by sponsorship of his infant companies.
"But he can no longer sustain the cost without a financial partner"
As reported in today's Sydney Daily Telegraph
"Who has $2m to save an Aussie Icon"
Dick Johnson Racing, the team founded on public donations after the famous "rock" incident at Bathurst is again in need of urgent financial aid to survive.
This time though, the depth of the problem is beyond the reach of the mum and dad fans who rallied to Johnson by sending him spare cash in 1980. DJR need a major corporate sponsor for 2007 to the tune of $2 million to $3 million dollars after losing long time backer Shell, then losing money in a disastrous deal with the failed Westpoint property development group.
Johnson formed the first professional motor racing team in Australia after the 1980 incident but the sponsorship setbacks have drained team and personal financial resources.
"We've worked hard for 30 years. I've put every cent I've got into making motorsport my passion and my career but I'm not sure how much longer we'll survive without corporate Australia's backing," Johnson said yesterday
Steve Chalker, the managing director of DJR, backed the appeal, saying "Dick is a household name and with the unfortunate passing of Peter Brock, he is now the sport's living legend.
"He is our elder statesman. Someone has to be able to see a marketing opportunity to associate their brand with someone who is a great Australian and a great Australian larrikin."
Johnson won the Australian touring car championship a record 5 times and Bathurst three times before retiring in 1999 to run the team.
DJR lost a lucrative Shell sponsorship in 2004 after 18 years before a four-year deal with Westpoint lasted less than 12 months.
After losing a significant amount of money in the Westpoint debacle, Johnson's V8 racing team was backed this year by two of his own recently set-up companies.
While costs in modern V8Supercar racing vary greatly, insiders say an average team requires around $7 million a year with a major naming rights sponsor worth $2m to #4m.
"We lost Westpoint in November and just didn't have time to find a naming-rights sponsor." Chalker said
"We had no choice but to use our own businesses. But to ask two new businesses to fund a V8 team is pretty ambitious.
"Dick has sustained the business out of his own pocket over the past 12 months by sponsorship of his infant companies.
"But he can no longer sustain the cost without a financial partner"
