Skip to content

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

Jul 4, 2013, 8:06 PM EDT

Terry Labonte AP

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.”

Latest Posts
  1. RHR, Kimball bank podiums; others throughout field star under-the-radar at Sonoma

    Aug 31, 2015, 9:00 AM EDT

    SonomaPodium AP

    The rest of the stories of note, to cap off the IndyCar season at Sonoma.

  2. As Justin Wilson is remembered, Oriol Servia hopes he did the car, family proud (VIDEO)

    Aug 30, 2015, 10:39 PM EDT

    ServiaRecap AP

    It wasn’t the result, but the strength, of Oriol Servia in Justin Wilson’s car this weekend that shown through.

  3. Power, Newgarden and Castroneves run out of luck in championship hunt (VIDEO)

    Aug 30, 2015, 10:34 PM EDT

    Will Power, Josef Newgarden Will Power, Josef Newgarden

    A look at how the championship hopes for the three drivers ended in the GoPro GP of Sonoma.

  4. Double points reverse Montoya’s IndyCar championship hopes (VIDEO)

    Aug 30, 2015, 9:17 PM EDT

    Juan Pablo Montoya Juan Pablo Montoya

    Juan Pablo Montoya blamed the double-points awarded in the season finale for missing out on the IndyCar championship.

  5. Rahal’s dream season finally hits trouble in Sonoma finale (VIDEO)

    Aug 30, 2015, 8:47 PM EDT

    RahalLoss AP

    Rahal endures disastrous finale at Sonoma, falls from second to fourth after 18th place finish.

  6. Scott Dixon captures Sonoma race win and 2015 IndyCar championship (VIDEO)

    Aug 30, 2015, 7:18 PM EDT

    DixonTitle1 AP

    Dixon wins race, title in Sonoma in dramatic fashion.

  7. Sebastian Saavedra leads at halfway in IndyCar season finale (VIDEO)

    Aug 30, 2015, 6:15 PM EDT

    © INDYCAR © INDYCAR

    Will Power and Juan Montoya must fight from the back of the field following an accident.

  8. Robin Miller pays tribute to Justin Wilson (VIDEO)

    Aug 30, 2015, 5:01 PM EDT

    AP AP

    Robin Miller remembers Justin Wilson in this touching tribute.

  9. Webber elated with “awesome” first WEC victory

    Aug 30, 2015, 4:00 PM EDT

    © FIA WEC © FIA WEC

    Webber and the no. 17 Porsche crew claimed their first win at the 6 Hours of Nürburgring on Sunday.

  10. INDYCAR confirms Chevrolet wins fourth straight Manufacturer’s Championship

    Aug 30, 2015, 3:15 PM EDT

    ChevySTPdomination AP

    Chevrolet wins its fourth straight INDYCAR Manufacturer’s Championship.

  11. WATCH LIVE: IndyCar’s championship decided in Sonoma at 1 p.m. PT, 4 ET on NBCSN

    Aug 30, 2015, 3:00 PM EDT

    SonomaTitle AP

    With heavy hearts, IndyCar moves ahead and will crown its champion this afternoon in Sonoma.

  12. WATCH: Red Bull Global Rallycross midseason review at 3:30 p.m. ET on NBC

    Aug 30, 2015, 2:45 PM EDT

    GRCDaytona Getty Images

    Catch up on the Red Bull Global Rallycross season at 3:30 p.m. ET on NBC.

  13. Maldonado: Good feeling heading into Italian GP weekend

    Aug 30, 2015, 2:30 PM EDT

    xxxx during practice for the Formula One Grand Prix of Belgium at Circuit de Spa-Francorchamps on August 21, 2015 in Spa, Belgium. Getty Images

    Maldonado keen to make up for his DNF in the Belgian Grand Prix at Monza.

  14. What to watch for: IndyCar at Sonoma (4 p.m. ET, NBCSN and Live Extra)

    Aug 30, 2015, 2:00 PM EDT

    SonomaW2W4 AP

    What to watch for ahead of the 16th and final round of the Verizon IndyCar Series season, the GoPro Grand Prix of Sonoma from Sonoma Raceway.

  15. Will Power fastest in final IndyCar practice at Sonoma

    Aug 30, 2015, 1:42 PM EDT

    PowerWarmup AP

    Pole-sitter Will Power claimed the fastest time in the 30-minute session.

  16. Porsche’s no. 17 car surges to maiden WEC victory in 6 Hours of Nürburgring

    Aug 30, 2015, 1:01 PM EDT

    NORTHAMPTON, ENGLAND - APRIL 10:  The Porsche Team 919 Hybrid of Mark Webber, Timo Bernhard and Brendon Hartley drives during practice for the FIA World Endurance Championship 6 Hours of Silverstone at Silverstone Circuit on April 10, 2015 in Northampton, England.  (Photo by Ker Robertson/Getty Images) Getty Images

    Mark Webber, Brendon Hartley and Timo Bernhard claim their first WEC victory since joining forces at the beginning of the 2014 season.

  17. Grosjean: Lotus E23 Hybrid better suited to Monza than Spa

    Aug 30, 2015, 12:00 PM EDT

    SPA, BELGIUM - AUGUST 23:  Romain Grosjean of France and Lotus celebrates on the podium after finishing third in the Formula One Grand Prix of Belgium at Circuit de Spa-Francorchamps on August 23, 2015 in Spa, Belgium.  (Photo by Mark Thompson/Getty Images) Getty Images

    Grosjean sets his sights on repeating his third-place finish in Belgium last weekend.

  18. Audi boss Ullrich laughs off continual F1 rumors

    Aug 30, 2015, 11:00 AM EDT

    LE MANS, FRANCE - JUNE 11:  Wolfgang Ullrich of Austria, Head of Audi Motorsport looks on during practice on June 11, 2014 in Le Mans, France.  (Photo by Andrew Hone/Getty Images) Getty Images

    “If somebody wants to go into Formula 1 and they think that they can do it from one to the next year, I think he shouldn’t try to do it.”

  19. Trefethen Family Vineyards combines Napa tradition, PWC racing at Sonoma

    Aug 30, 2015, 10:13 AM EDT

    Lorenzo Trefethen. All Photos: Tony DiZinno Lorenzo Trefethen. All Photos: Tony DiZinno

    While there’s no shortage of wineries in Napa Valley, few have racing tie-ins, and fewer still get a racing tie-in at Sonoma Raceway – here’s the story of the Trefethen Family Vineyards.