Report: Terry Labonte interested in buying Phoenix Racing — could brother Bobby be far behind?

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Terry Labonte Racing? How about Labonte Brothers Racing?

Both have a pretty nice ring to them, don’t they?

And one of those names or something similar could soon become reality amid a report by The Associated Press on Thursday that two-time Sprint Cup champion Terry Labonte may be interested in purchasing Phoenix Racing from current owner James Finch.

Finch is looking to sell his team before he’s forced to shut it down permanently due to lack of funding and sponsorship.

And one of the potential suitors to purchase the team is the elder Labonte brother.

“James been trying to sell that thing for a long time and Terry told me about it,” younger brother Bobby Labonte said Thursday at Daytona International Speedway, where he was preparing for Saturday’s Coke Zero 400. “I hope Terry can do it.”

While it’s unlikely at this point that Bobby would join Terry as a co-owner, there’s no question that the elder brother is giving the purchase a great deal of thought.

“I think Terry would like to do it, but you’ve got to get money to feed the cow,” Bobby Labonte said.

There reportedly are at least two other individuals interested in buying the team, according to the AP report: Harry Scott, co-owner of Nationwide Series team Turner Scott Motorsports, and an unidentified potential buyer.

Terry Labonte was apparently not available for comment.

While Finch has had difficulty getting enough funding to keep the team operational and competitive, he has some of the best cars and equipment available, purchased or leased from Hendrick Motorsports.

That in itself would be a significant lure to anyone seeking to purchase the team’s assets and equipment.

Terry Labonte, 56, stopped racing full-time after the 2004 season, but has continued to run a limited part-time Sprint Cup schedule, including three of the 17 races held thus far in 2013.

But having a team to call his own may be a lure the Corpus Christi, Texas native can’t resist.

“I think he has a good feeling about things, about people,” Bobby Labonte said. “He enjoys it. He enjoys racing.

“You may not look at him and think that, but he likes being a part of successful things and helping people out, whether it’s having 20 employees or having a successful business. That’s just how he is.”

Terry Labonte won the then-Winston Cup championship in 1984 and 1996. He has 22 career wins in the Cup series and has earned nearly $45 million in 36 years and 884 race starts on the Cup circuit. Bobby Labonte won the Winston Cup crown in 2000 and has 21 wins in 706 starts over 22 years on the Cup circuit.

Could younger brother Bobby potentially drive for his older brother? That certainly seems like an intriguing possibility, especially since Bobby Labonte will miss up to five races this season for JTG Daugherty Racing as A.J. Allmendinger fills in to give the team a different driver perspective and input. Labonte did not race in last week’s event at Kentucky Speedway, breaking a streak of 704 consecutive starts, second-longest among active drivers behind Jeff Gordon’s 706 consecutive starts.

With Bobby Labonte in the last season of his current contract with JTG Daugherty, working for his brother may not be a bad idea. But the younger Labonte hedged about the possibility.

“That might be a little tough because we are different in a lot of ways,” Bobby Labonte said of racing for his brother. “He would do anything he could to help me, just like I’d do anything to help him. But there’s more to it than that.”

Max Verstappen, Sergio Perez and Formula One embrace the United States

Verstappen Perez United States
Fatih Aktas/Anadolu Agency via Getty Images
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Last week, Red Bull Racing revealed its new car, the RB19, and a new relationship with Ford Motor Co. in an event in New York City complete with drivers Max Verstappen, Sergio Perez and team principal Christian Horner.

It’s the first Formula 1 team to launch in the United States for 2023, but even that small move of the needle reflects a major shift in the attitude of both F1’s management and their teams – and the extent to which the American audience has fully embraced the sport.

“It’s something fantastic and unique, for the sport to be able to break it into the U.S,” Perez told NBC Sports. “The market is huge and it’s a huge opportunity for everyone involved, for the drivers, for the team. It’s always a huge market.”

Verstappen Perez United States
Sergio Perez finished fourth in the Unites States Grand Prix, but he was first with the fans.  – Jared C. Tilton/Getty Images

In 2023, Formula 1 will race three times in the United States and five times in North America. The Circuit of the Americas will host their 11th consecutive race in October before heading south to Mexico City. Miami returns for a second time in May on a temporary street course around the Hard Rock cafe and the third addition is in downtown Las Vegas in November.

With the Canadian Grand Prix on the schedule for June and the Brazilian Grand Prix in November, American fans are now in the ballpark of Europeans, who have eight events on the continent and one in England.

In 2022, Verstappen won every race in North America. He was kept from sweeping the hemisphere only by George Russell, who won in Brazil. That fact is less remarkable when one considers that Verstappen won 15 times in the season – nearly two-thirds of the races on the schedule.

By the time Formula arrived in Austin, Texas, for Round 20 of 23, Verstappen already had wrapped up his second consecutive championship.

“Sometimes it can be hard to replicate the season, but I think it’s the same as with the car, right? You always try to improve it,” Verstappen told NBC Sports. “And I always look at the little details that even when you have had a good race, you could have done better. And then of course you also learn from the bad races. So we always try to look for these little improvements and general experience you gain year after year.

“You try to do better, but of course it also depends a lot on the package you have.”

Verstappen Perez United States
Max Verstappen United States Grand Prix win was one of 15 for the drivers and 17 for Red Bull.
(Gongora / NurPhoto via Getty Images)

Now Verstappen’s thoughts inevitably will turn to establishing a dynasty, and America will again play a pivotal role.

“I just enjoy what I’m doing,” Verstappen said.  “After the years in Formula One, when you have to be on top of your game and you gain a lot on your experience – in that sense nothing really can get to you anymore. Every year you just try to do the best you can. But a lot depends on the material around you. It’s always a bit of a guess. Start the season as fit as you can be and be well prepared. But if you don’t have the car, you’re not going to win the championship.”

Perez added two wins to Red Bull’s total, at Monaco and the Marina Bay Street course. With two of the US 2023 races on street courses, Perez hopes to close the gap on Verstappen and potentially be his chief rival for the championship.

“The strategy is clear; it is to maximize the potential of the car – and we believe we have a good car, but how good?,” Perez said “We don’t know what the competition is doing. We just give our best in building this car and we hope that it’s good enough to get us to win races.

“I think we have to work together as a team. At the same time. We both want to win the championship. It’s just having good compromise. The competition will be really strong out there, so we really need everything we possibly can get from each other.”

Formula One returns to the United States for Round 6 and the Miami Grand Prix on May 7.