Bubba Wallace offered Richard Petty Motorsports ownership stake

Racing team keen to retain “most recognisable Nascar driver” with new contract offer.

Bubba Wallace offered Richard Petty Motorsports ownership stake

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  • Wallace’s deal with RPM expires at end of 2020 season
  • 26-year-old described as “marketer’s dream” by team owner

Andrew Murstein, an owner of Nascar outfit Richard Petty Motorsports (RPM), has revealed that driver Bubba Wallace has been offered an ownership stake in the stock car racing team as part of a contract extension offer.

Wallace’s current contract is due to expire at the end of the 2020 Nascar Cup Series season, which is his third campaign representing RPM.

Speaking to Forbes, Murstein said he expected a new deal with the 26-year-old to be finalised “within the next couple of weeks”.

“We’re in discussions with him about an extension that includes ownership in the team,” Murstein confirmed to the American business outlet.

He added: “There’s a plethora of drivers. There is only one Bubba.”

Wallace, who was named in SportsPro’s 2018 list of the world’s 50 most marketable athletes, is one of the most successful African American drivers in the history of Nascar and has garnered greater public attention in recent months for his support of the Black Lives Matter (BLM) movement.

Wallace drove a car sporting livery promoting BLM during the Blue-Emu Maximum Pain Relief 500 on 10th June and was a driving force behind Nascar’s recent decision to ban the Confederate flag at its events.

Since the series restarted in May, Wallace has added mobile payment service Cash App as a primary sponsor and signed a personal endorsement deal with headphone manufacturer Beats by Dre.

“We went from probably having one meeting a week with a potential sponsor to five the last five weeks or so,” Murstein added in his interview with Forbes. “I think Bubba is probably the most recognisable Nascar driver now, other than Richard Petty. So we’ve got probably the two most recognisable names in the sport. It’s a marketer’s dream.”