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Discussion Starter · #1 ·
So racers are calling us and cancelling orders due to Torco Fuels Pulling sponsorship money.

Apparently it is a big pull out and not just a few select racers.
 

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So racers are calling us and cancelling orders due to Torco Fuels Pulling sponsorship money.

Apparently it is a big pull out and not just a few select racers.
In NHRA? He has ALOT of teams flying his colors. That would be a disaster for some of these guys and gals.
 

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Discussion Starter · #3 ·
Yes it is a big disaster for NHRA and maybe a fatal blow for IHRA.

Did not do us any good with 20k in suddenly cancelled orders. Material already purchased.
 

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Discussion Starter · #5 ·
I don't know for sure but I hear bits and pieces of maybe Evan's health?
 

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Discussion Starter · #7 ·
It's definately real.

Just got word that all events are still covered.

The only people affected are racers and teams.
 

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From dragracingonline.com



KNOLL, TORCO EXITING DRAG RACING?
By Jeff Burk

At 2:38 CST DRO received a press release from the Mike Ashley organization which contained the following industry shaking sentence:
"This morning, (Mike) Ashley received a telephone call from his longtime sponsor Torco Racing Fuels, indicating that they would be taking the year off of drag racing.”

A call to the Mike Ashley organization got us the information that a representative of Torco contacted Mike Ashley and informed him that Torco was taking a year off from Drag Racing. Who called from Torco to inform Ashley of the news is unknown and an Ashley representative said the press release was written verbatim per Mike Ashley.

As soon as the press release broke the phones started ringing at the DRO offices. At this moment the only official information we have is the Mike Ashley press release, but calls to several of the teams backed by Torco confirmed that indeed Torco has informed them that they will not be sponsored for the coming season.

Assuming that the information is correct for the moment and indeed Torco and Evan Knoll have pulled out of drag racing the implications for the sport of drag racing are massive. Cars that Torco sponsored off of the top of my head include: J.R. Todd, Mike Ashley, Bruce Litton, Rickie Smith, NHRA Pro Stock Champ Matt Smith, IHRA Pro Mod World Champ Scott Cannon, and his dad Scotty, IHRA World Champ Fuel Funny car driver Dale Creasy Jr, Melanie Troxel who actually works for Evan Knoll and many others.

I had been told late in 2007 this year by a source at Torco Racing Fuels that they were probably not going to renew their contracts with the IHRA Top Fuel, Funny Car and Pro Stock programs. Nothing has been officially confirmed but reliable sources who don’t wish to be quoted because it could put their jobs at risk confirmed that the IHRA was having meetings regarding the Torco/Evan Knoll situation late Tuesday afternoon. More official news will undoubtedly surface regarding this situation with official news releases but for the time being there will continue to be some very, very concerned racers, race series and both the NHRA and the IHRA especially the IHRA. [1/8/2008]

ASHLEY'S TEAM SEEKS SPONSORSHIP FOR 2008
MELVILLE, New York (January 8, 2008) -- Mike Ashley is no stranger to adversity or crisis in business. This morning, Ashley received a telephone call from his longtime sponsor Torco Racing Fuels, indicating that they would be taking the year off of drag racing. That leaves the opportunity wide open for new sponsors to step in and become a part of Ashley's winning team.

"While I'm shocked and surprised, first I want to say that Evan Knoll is a friend and a first class guy, I appreciate everything he's ever done for me, and I maintain the utmost respect for him," Ashley said.

"Although Torco was not specific in the conversation with me, I certainly understand based on the current state of the world economy and fuel and oil price instability why this would be an intelligent business move the them to take a break from racing in 2008.

"This leaves an incredible opportunity for entertaining new sponsorships, partnerships or mergers in order to continue operations," Ashley said.

Ashley said his company, Lend America, will temporarily take on the roll of primary sponsorship while new marketing sponsorship is secured. He also said his Gotham City Racing team expects to retain Melanie Troxel to drive, and any interested parties can contact him directly at [email protected] to explore opportunities. [1/8/2008]
 

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http://www.competitionplus.com/index.php?option=com_content&task=view&id=4980&Itemid=6

TORCO OFFICIAL STATEMENT
Written by CompetitionPlus
Wednesday, 09 January 2008


Torco Racing Fuels has announced an interruption for their 2008 racing season. The break will include sidelining all Knoll Gas Motorsports’ teams, including those owned by Evan Knoll and sponsored by Torco Racing Fuels, Inc. for the 2008 season. However, the break will not affect event sponsorship in NHRA, IHRA, and other sanctioned bodies.

At the center of the interruption is the long-term health of Torco President and founder, Evan Knoll. Knoll, who suffered major injuries in a serious motor vehicle accident in November of 2004, has stayed at the helm of operations with Torco. Knoll has been in and out of Mayo Clinic and has also been working with several Neurologists. He continues to have in-home, state-of-the-art medical care when treatment is necessary and Knoll is currently unable to travel.

In taking a season off from the rigorous duties of being a primary sponsor and team owner of more than a dozen teams, Knoll will be able to concentrate on furthering his recovery. Additionally, the organization is hoping to plan, strategize, and regroup their team efforts throughout drag racing, thus strengthening their chances of world championships.

“We want to stress that this is only an interruption,” stated Torco CFO, Latrell Preston. “We are not selling any of our racing assets including any of our race team properties, and we will also retain all leased property in preparation for 2009. We intend to remain a leader in the racing industry. In order to achieve the success we expect, we found it necessary to take a break with our teams. This is in no way an indication of us leaving the sport. We have a long-term commitment to the fans, racers and racing industry. With Evan’s health being our main concern; the shaky oil market and world economy; and, our need to better strategize our teams, we will simply take a small step back.”

“We are definitely not leaving drag racing,” reiterated Preston . “With Evan’s health concerns, and our company’s rapid growth, we found it necessary to take some time to organize and better plan our efforts. We are keeping our primary event sponsorship in both Chicago and Richmond in NHRA, and keeping our existing series sponsorship in IHRA. This break is affecting our teams for this year only. We will be back in 2009 stronger and striving for a championship season.”
 
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