Thread: Penske/Dick Johnson Racing Deal May Be Off.

Roger Penske's takeover talks with Dick Johnson Racing have ground to a halt as speculation that the deal is off intensifies.There are conflicting reports about the status of Penske's proposed buyout,with DJR insiders insisting it is still alive while sources close to the American mogul are equally adamant he is looking elsewhere.

Amid the conjecture and uncertainty surrounding DJR's future,in regards to V8 supercars investigating allegations that it had secretly built a Falcon V8 racer to send to the USA for testing by team Penske.

The rules prohibit offshore testing by a REC-holder and DJR denied there was any such plan when V8 officials looked into the claims.Among the worrying signs that Penske has delayed or abandoned his plan to buy DJR has been his recent refusal to comment on his V8 team ownership ambitions.

At the very least,there has been no progress since Penske and his racing chief Tim Cindric visited Australia last month,when they held inconclusive talks DJR management.

Despite Penske himself declaring that he was aiming for an announcement on team Penske's future in V8 racing by the end of July,DJR insiders admit negotiations have stalled.

However,they maintain that the deal has become mired in legal detail that they claim is not uncommon in foreign takeovers by American company's."It's still going around in circles,"an insider said."I'd say it's still a chance.I don't think it's in it's death throes."

While Penske is understood to still be keen on acquiring or taking a major stake in a V8 team to promote his expanding Australian business interests,his interest in buying DJR appears to have cooled considerably as major obstacles have emerged.

Among the barriers is said to be Dick Johnson's reluctance to include the team's Stapylton factory in the proposed sale,removing one of the main attraction's of the buyout.

A source familiar with Penske's efforts over the past year to buy or buy into a V8 team declared that DJR was no longer his target."It's definitely not happening," said the informant,who added that team Penske was pursing other V8 team ownership options.

It is understood that Marcos Ambrose still figures in the legendary team owner's V8 plans,although it is now looking more likely that any entry will be delayed until 2016.

Lack of a major sponsor is not a immediate concern either,according to another well-connected source,who maintained that Penske was prepared to fund the first two or three seasons if needed.

Speculation about other possible takeover targets or partnerships his included Tekno Autosports and an alliance with Holden Racing Team(which Penske looked at buying back in 2003 following TWR's collapse).

In the midst of the crucial July discussions with Penske and Cindric,who met with Dick Johnson and his financial partners Ryan Storey and Steve Brabeck over two days,DJR had to fend off allegations that it had built a Falcon V8 racer to be sent to the States for appraisal by team Penske.

Rumors were rife among V8 teams as far back as the Townsville 500 that DJR had built up a spare car for Penske and had even secretly shaken it down at Morgan park.

When it had investigated a possible breach of the ban on offshore testing by REC holders,V8 supercars officials found no evidence to support the claims.DJR dismissed the allegations,pointing out that it didn't have a spare car to build up anyway,following David Wall's write off of his original racecar in New Zealand.

Dick Johnsons book is a great read, I am not a Ford fan but still read it. Some real eye opening info. Dick lost the workshop a long time ago as he was well and truly scammed.