Roush Racing And Fenway Sports Group Partner

Roush Racing and Fenway Sports Group (FSG) have announced the formation of Roush Fenway Racing.

Under the agreement, FSG will purchase 50 percent of Roush Racing to form the new entity. Jack Roush will continue to manage the competitive operations of the race teams and Geoff Smith will continue as president to oversee business activities.

FSG will support Roush Fenway Racing's marketing and sales activities by using their experience, network of relationships, and powerful demographic base to add value to Roush Fenway Racing sponsors and help Roush Fenway Racing maintain an unsurpassed position among NASCAR teams on and off the track.

"This partnership will bring a whole new perspective to our business," said Jack Roush. "There is a lot of hard work that goes into being successful in sport. John Henry and FSG understand what it takes. Anybody that has watched the Red Sox has been impressed with their tenacity and their ability to prevail after all the frustration. To be able to have someone to bounce ideas and strategies off of will be fun. Everyone at Roush Racing is excited to welcome our new partner and we look forward to our success together."

"This is an unprecedented partnership of two extremely successful organizations with proven track records for winning in their respective businesses and sports," said Mike Dee, chief operating officer of the Boston Red Sox and president of Fenway Sports Group. "We believe in NASCAR and like its long-term business future and are thrilled to be a part of this exciting and growing industry."