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NASCAR’s Phoenix Racing will have a new owner

Jun 28, 2013, 5:30 PM EDT

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Cue the inevitable “Phoenix rising from the ashes” headlines.

Indeed a new buyer is expected to keep James Finch’s Phoenix Racing afloat. A Florida newspaper report that the No. 51 NASCAR Sprint Cup Series team would be changing ownership hands was confirmed Friday by NASCAR.com

“We’ve got a buyer, and we’re working on the final details to try and get everything buttoned up,” Phoenix Racing general manager Steve Barkdoll told NASCAR.com. “We hope to have something by the middle of July that will keep Phoenix Racing going forward.”

Phoenix Racing has used five different drivers (Regan Smith, AJ Allmendinger, Austin Dillon, Bobby Labonte and Jacques Villeneuve) this season. They took a gamble on Kurt Busch last year, providing the 2004 Cup champion a home after his high-profile release from Penske Racing. Phoenix won with Brad Keselowski at April in 2009, providing both team owner and driver their first ever wins at the Cup level.

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