STATESVILLE, N.C. (AP) — Troubled NASCAR team Swan Racing has found a home for driver Cole Whitt, while keeping Parker Kligerman under contract.
The two-car team faced an uncertain future because of difficulty securing corporate sponsorship. Swan Racing minority owner Anthony Marlowe merged his ownership of the No. 26 team in BK Racing. Whitt will remain behind the wheel of the 26 in the Sprint Cup series.
The No. 30 team was sold Wednesday to John Cohen of XxxTreme Motorsports. The team hired veteran driver J.J. Yeley and named Stephen Lane crew chief. The No. 30 team will be joined by several other former Swan Racing crew members.
Swan Racing will continue to look for options for Kligerman that will keep the rookie driver on the track.
"I am very relieved to know that the Nos. 26 and 30 teams will be in good hands and will continue to compete the remainder of the 2014 NASCAR Sprint Cup Series season," Swan Racing owner Brandon Davis said. "Most importantly, most of the team members have the opportunity to continue their employment in the sport and to support their families. This was critically important to me."
Davis, the CEO of independent oil and gas company Swan Energy, bought the organization in 2012. A former start-and-park team, he set a goal of racing in every event. Then he pumped the organization with needed cash when he signed former NFL linebacker Bill Romanowski as an investor and rapper 50 Cent used his SMS Audio line to partner with the team. Marlowe was added this season as a minority owner.