Swan Racing announced it has successfully restructured the company by finding solutions for the Nos. 26 and 30 teams in an attempt to save the jobs of the crews, the drivers, and to keep those teams competing throughout the 2014 NASCAR Sprint Cup Series.
As a result, Anthony Marlowe has merged his ownership of the No. 26 team into BK Racing, effective immediately. Cole Whitt will remain behind the wheel of the No. 26.
The No. 30 team has been sold to John Cohen of XxxTreme Motorsports, which will operate the team going forward and intends to compete with veteran driver J.J. Yeley. Stephen "Bones" Lane will serve as crew chief and be joined by several other former Swan Racing crewmembers.
Driver Parker Kligerman remains under contract with Swan Racing, which will seek to identify options for him to get back on track.
Team owner Brandon Davis issued the following statement:
"I want to first thank our employees, fans, and others in the NASCAR industry for their patience and understanding over the past several days while we work out the future of Swan Racing.
"As previously stated, the team is restructuring due to a lack of additional funding. However, over the past couple weeks we worked tirelessly to find an alternative to ending operations. Fortunately, we were able to find a home for the No. 26 team and the No. 30 team thanks to Anthony Marlowe and Jonathan Cohen respectively.
"Anthony and Jonathan are both young and ambitious NASCAR enthusiasts. It is important to keep them in the sport for the long term. I am very relieved to know that the Nos. 26 and 30 teams will be in good hands and will continue to compete the remainder of the 2014 NASCAR Sprint Cup Series season. Most importantly, most of the team members have the opportunity to continue their employment in the sport and to support their families. This was critically important to me.
"Swan Racing is exploring any and all options to keep Parker Kligerman on track throughout the season. We are encouraged by the response we have received from interested parties. Parker continues to be one of the most talented young drivers in NASCAR. He brought this racing team one of its strongest results in his first race with us, and we are certain of his success in the future.
"We will provide updates as new information and facts are established."
"I respect Brandon Davis and everything he has done for the Swan Racing Company," said Marlowe. "Looking forward, my mission is to ensure Cole Whitt races in every NASCAR Sprint Cup event this season. I am thrilled about the No. 26 team merger with my new partners at BK Racing. My friend Ron Devine and the BK Ownership group really stepped up to enable me to keep the No. 26 on the track. Cole and Randy are off to an auspicious start in 2014 for a new Cup Team and we are gearing up for Richmond. In addition to the No. 26 team's performance so far this year, the new 'win and you're in' system and qualifying rules were motivating and positive factors in my continued investment in NASCAR."
"I've always had a good relationship with Brandon and always said if we can help each other or work together when the time is right that we should do it," said Cohen.
"I'm grateful for the opportunity Anthony Marlowe is giving me to continue the NASCAR Sprint Cup season," said Whitt. "I want to thank Brandon Davis and everyone at Swan Racing for the opportunity they gave me to race for the team."
"Although it's unfortunate we are having to scale back, I look forward to the future and the exciting things that I'm confident we will accomplish at Swan Racing or with another team," said Kligerman. "I value the relationship that I've had with Brandon Davis and am very grateful for him giving me an opportunity to compete in the NASCAR Sprint Cup Series. Whether I continue to race with Brandon and Swan Racing or end up with another team, I will always give it my all on and off track to be the best I can be."