IBJNews

Legal issues follow local race team into 500 weekend

Back to TopCommentsE-mailPrintBookmark and Share

The local race team of Panther Racing LLC will be solidly represented in Sunday’s Indianapolis 500 by its two drivers, Buddy Rice and J.R. Hildebrand, who will start 7th and 12th, respectively.

But, off the track, a handful of lawsuits targeting Panther Racing have made for a bumpier ride.

Within the past year the IndyCar Series race team has been sued by a former employee, its former landlord and even one of its former drivers, mostly over allegations of not paying its bills.

The spate of litigation may seem unusual to open-wheel enthusiasts, who likely see Panther Racing as one of the series’ more solid teams.

It was founded in 1997 and is majority owned by fomer mechanic and team manager John Barnes. Jim Harbaugh, head coach of the San Francisco 49ers and former Indianapolis Colts quarterback, has a 17-percent ownership stake in the company.

Panther Racing has attracted a lucrative sponsorship from the National Guard in a deal that paid Panther Racing roughly $30 million from 2008 to 2010, according to court documents.

Zak Brown, CEO of Just Marketing International, a Zionsville-based motorsports marketing firm, described Panther Racing as “stable.” “They’re a credible team that appears to have good finances versus some of the teams out there that aren’t sure if they’re going to make it to next weekend,” he said.

On the track, former driver Sam Hornish Jr. won Indy Racing League championships for the team in 2001 and 2002, and past drivers Vitor Meira and Dan Wheldon both finished second in the Greatest Spectacle in Racing in 2008 and 2009.

Wheldon, however, filed suit in August in Marion Superior Court over unpaid wages resulting from his runner-up finish. The complaint said he had not been paid a $250,000 “performance incentive” and 40 percent of the prize money as a result of the finish, which amounted to a total of $383,400.  

The two sides quickly settled the dispute a few months later. But Wheldon, who won the Indianapolis 500 and the IndyCar championship in 2005 driving for another team, left Panther after two years for Bryan Herta Autosport.

Panther Racing remains entangled in two other lawsuits, and one in particular has become quite contentious.

Former employee Christopher Bowers sued the company in November, accusing it of fraud and violation of an operating agreement, as well as breach of contract and fiduciary duty.

Bowers, of Atlanta, worked at Panther Racing from March 2008 until January 2010 and claims he secured at least $34.7 million in sponsorships for the team, for which he has not been paid a commission.

He also alleges that Panther Racing made deceptive financial misrepresentations to him about the condition of the company that resulted in his agreeing to a $77,500 reduction in salary.

“The bottom line is he feels that he had both written and oral agreements that have been unsatisfied,” said his lawyer, David Mattingly of Ice Miller LLP.

Earlier this month, Marion Superior Court Judge Patrick McCarty denied Panther Racing’s motion to dismiss the suit. And on May 13 the company filed a counterclaim against Bowers that lists several charges against him.

“Due to the baseless allegations contained within the suit, Panther recently filed counterclaims against the disgruntled employee, including claims for libel, slander and abuse of process,” Panther Racing said in an e-mail. “Panther respects the legal system and plans to resolve these matters through the appropriate legal process.”

The team moved last May from its former headquarters at 5101 Decatur Blvd. on the city’s southwest side to new space on the same street, at 5740 Decatur Blvd.

Panther Racing’s former landlord, which consists of several entities, brought a suit against the team last June and accuses it of defaulting on its lease. The landlord said the company failed to pay one month back rent and previous late charges, which amount to a total of $37,919.

The court placed its former landlord, 1031 Decatur LLC, in court-ordered receivership in January. That has complicated the resolution of the dispute, Panther Racing said in its e-mail. Panther Racing also has counterclaims against the landlord stemming from its argument that it held an early-termination option.

A January mediation between the two sides was unsuccessful.

A lawyer for 1031 Decatur LLC declined to comment on the case.

 

ADVERTISEMENT

  • bail bonds van nuys
    Thanks for sharing this great content, I really enjoyed the insign you bring to the topic, awesome stuff!
    bail bonds van nuys
  • racing
    I just got around to reading this email today. It was released before the race

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Uh, sorry Johnnie, but you are incorrect. Despite the assertions by yourself and various defenders and captains, sports attendance is NOT off significantly at most sporting events in the US. Variances in attendance has been in the range of single digits, both + & - for years now. MLB has had most of its best overall attendance nubers in the last decade, and that trend has been consistent for most major sporting events. The number one issue cited by most fans when asked about attendance is the overall cost of attending. The presence of HD and big screen televisions in home doesn't even register, as a factor for not attending an event. VALUE in the product is the key, and apparently is something lacking in the current ICS. What other explanation is there when with what is routinely touted as the "best" racing on the planet, fans are staying away in DROVES. A "close" title battle into the last event at Fontana, with the "cars and stars" of the ICS, and who showed up? MAYBE 8K. Sorry, but HD TV isn't to blame for that kind of fan apathy.

  2. Do you need finance to establish your business ? Are you interested in getting a loan at 3% from our private company? If so please Email: suntrust_oil@blumail.org

  3. If she was worth the $ the public outcry over direct tv dropping them would have kept them on their dishes as we have seen with other companies. I too quit watching channel 13 after she showed up since I left channel 8 because of her all show rather than production results. When Randy on 8 corrected her she had a big head and incorrectly challenged his correction for pronunciation of a city. Other antics while she matures was too much for me with her very inaccurate forecasts. All the forecasters were predicting rain until Thursday except Chris. They predicted sunny on Thursday but instead of rain until Thursday upon which the sun would finally make it out in full glory Chris was right on the money just as I too predicted looking at the radar on weather.gov. One thing I love about Angela is the fear you can see in her every time it thunders in the winter. It far exceeds the entertainment value of her body language (high heel noise drags, depression, etc) when her forecasts are so incorrect. Her hair stands on end, you have to see it!!!

  4. Good Day, Apply For A Loan I am Mr Fernadez Antonio, a private Loan lender and a cooperate financial for real estate and any kinds of business financing. I also offer Loans to individuals, Firms and cooperate bodies at 3% interest rate We offer any kind of loans. email us via fernadezloaninvest@outlook.com LOAN APPLICATION FORM First name:......................... Middle name:......................... Last name:........................................ Date of birth (yyyy-mm-dd):....................... Gender:........................................... Marital status:................................... Total Amount Needed............................... Loan Duration.................................... Address:.......................................... City:............................................. State/province:................................... Zip/postal code:.................................. Country:.......................................... Phone:............................................ Fax:.............................................. Mobile/cellular:.................................. Monthly Income.................................... Occupation:....................................... Best Regard, Mr Fernadez Antonio.

  5. i will love to share my testimony to you all the people in world i got married to my husband about 2 year ago we start having problems at home like we stop sleeping on the same bed,fighting about little things he always comes home late at night,drinking too much and sleeping with other women out side i have never love any man in my life except him. he is the father of my child and i don't want to loose him because we have worked so hard together to become what we are and have today .few month ago he now decided to live me and the kid,being a single mother can be hard sometimes and so i have nobody to turn to and i was heart broken.i called my mom and explain every thing to her,my mother told me about DR.okoro how he helped her solve the problem between her and my dad i was surprise about it because they have been without each other for three and a half years and it was like a miracle how they came back to each other. i was directed to DR. okoro on his email:okorospell@gmail.com and explain everything to him,so he promise me not to worry that he will cast a spell and make things come back to how we where so much in love again and that it was another female spirit that was controlling my husband he told me that my problem will be solved within two days if i believe i said OK So he cast a spell for me and after two days my love came back asking me to forgive him i Am so happy now. so that why i decided to share my experience with every body that have such problem contact Dr okoro the great spell caster on his email addresses spellcasterforlove@outlook.com

ADVERTISEMENT