Panther

kmsport · 28 Jan 2006, 03:15 (Ref:1510578)

I remember seeing a web site advertising an auction that looked like Panther were selling up lock, stock and barell. Is that true? Or were they purging of unwanted gear....? It did look like the whole business though..
Any ideas?

**GTRMagic** · 28 Jan 2006, 07:41 (Ref:1510621)

The article in Autosport a couple of weeks ago suggested the team was hopeful of continuing, but were cautious enough to say that their engine supplier had left them (meaning no more free engines) and their primary sponsor had gone too (Pennzoil...) they required a significant budget to move forward.

Wouldnt be a surprise if all the 'extras' were put up for sale

BootsOntheSide · 28 Jan 2006, 15:33 (Ref:1510784)

The intention was to keep enough equipment to run a 1-car team with spare next year, but even that is dependent on a pay-driver being found.

macdaddy · 28 Jan 2006, 22:20 (Ref:1510974)

You'll find more info in this thread.

**GTRMagic** · 30 Jan 2006, 11:08 (Ref:1511794)

The auction is Here

What an immaculate race shop... a real credit to the team.. a place for everything and everything it its place.. all the equipmengt with a Panther logo or indeed in the yellow colour of Pennzoil

Whoever buys it will be buying something well looked after quite obviously.

jethro10 · 30 Jan 2006, 13:39 (Ref:1511910)

Quote:

Originally Posted by GTRMagic

The auction is Here

Starting to look sorta final.

J

kmsport · 2 Feb 2006, 10:24 (Ref:1514117)

although, Panthers website has a forum where the boss said it was basically a purge of unwanted stuff

Down F0rce · 2 Feb 2006, 12:45 (Ref:1514186)

Thats an awful lot of unwanted stuff.

Tim Northcutt · 2 Feb 2006, 15:57 (Ref:1514303)

Remember, they had enough equipment to run three cars at Indy last May (Scheckter, Enge and Lazier)

Selling off four of six competition-ready Dallaras still gives them two chassis to race this season...

and why keep the extra transporter, tons of spare parts able to service two teams and possibly three, pit box and fueling gear, etc., when you can take that money to possibly operate to buy time in order to secure a sponsor to fund you long-term???

at leaast that is the way I understand their approach on this from public statements they have made on this issue.

I could be wrong, but that is my understanding of it.

Tenoch · 2 Feb 2006, 17:28 (Ref:1514339)

Some of that stuff is pretty cool, like the nomex and the fire suits. I think I'm gonna pick up one of those Golf Carts or the Kawasaki 4 wheeler.

Tim Northcutt · 2 Feb 2006, 18:15 (Ref:1514359)

Are you coming down for the Auction, or do they have some sort of "On-Line" option to bid???

Tenoch · 2 Feb 2006, 21:16 (Ref:1514473)

Quote:

Originally Posted by Tim Northcutt

Are you coming down for the Auction, or do they have some sort of "On-Line" option to bid???

They have online bids. So hopefully I can manage to waste some mone on things i really dont need. Although if I didnt have an exam on monday I would take a road trip to Indy, with the sole intent of buying stuff I'll never really use or need.

kmsport · 3 Feb 2006, 10:50 (Ref:1514702)

to bid... you need money...I would love to bid (and win) a 5 or 7 axis nc mill

BootsOntheSide · 3 Feb 2006, 16:46 (Ref:1514914)

If the auction goes the way it's anticipated, how logn would they be able to run a car without sponsorship for? Would the main driver need to bring sponsorship or funding? Would a second entry at Indy using the back-up car once the main driver has qualified it be an option?

drdisque · 3 Feb 2006, 16:58 (Ref:1514925)

with the new Honda Engine leases running a full season could be done for between $1.5 and $2 million and Indy could be run for $250000. I think its fair to expect they will raise over a million as each of those transporters will probably go in the $300000-$500000 range and the race-ready cars in the $150000 range, assuming they don't have any outside debt to service.

kmsport · 4 Feb 2006, 06:12 (Ref:1515255)

I had no idea that it was that expensive. No wonder you wouldnt want to keep stuff you dont need when its worth that much

Tim Northcutt · 4 Feb 2006, 11:10 (Ref:1515347)

If you look at racecarsdirect on line, transporters that size used don't cost nearly as much as you have quoted, drdisque...

But I would imagine that the big ticket items like those mentioned certainly will have a reserve listed for them that must be met for the items to sell..

If I didn't have meetings and interviews to handle at work on Monday and Tuesday, I would be interested in just standing outside the door to see who walks in to bid on this stuff...

My guess is that Pat Patrick, maybe the Byrd family (sons), and any principals from the alleged Yellow Ribbon Racing will be there, for starters...

or maybe someone else who would be interested in an Indy-only run and wants to pick up some gear on the cheap for May...

**GTRMagic** · 4 Feb 2006, 11:31 (Ref:1515364)

A trailer like those in the ad costs around A$320k brand new locally in Australia... second hand, and where they would be mass produced to some extent, they would be lucky to be worth half that....

The prime movers are on the tick, so presumably they wont sell unless the lease payout is less than the knock down price...

The equipment in the workshop is not brand new but is in good condition.. if all of that goes at market prices, it should fetch over US$1m without even looking at the chassis..

4 chassis which I presume remain current spec in 2006 (or perhaps there is an update kit for it) should be worth US$200k+ each... including the $US$25k Pi Sigma systems in each car...

Depends if this ends up as a fire sale, a collectors auction, or a genuine clearance at appropriate pricing.... or indeed picked up as a job lot by one of the ChampCar mob

What surprised me a little was the types of equipment in the workshop that were common to the Mo Nunn Racing auction by the same Key Liquidations people... so none of the stuff is out of the ordinary... and presumably if you took the shop in one line, the team could operate as it was...

Still very sad to see a team end up this way... but it does show the good condition of their assets... as a credit to the squad...

drdisque · 5 Feb 2006, 04:43 (Ref:1515773)

the prices I quoted were with the tractors, I didn't notice if they were selling the tractors with them or not.

The value of the chassis might suffer because nobody knows if they'll be legal for '07 (although most people suspect they will)

Tim Northcutt · 5 Feb 2006, 15:33 (Ref:1515971)

Barnhart has indicated that he chassis rules will not change for 2007...he did so about two weeks ago in an interview with Curt Cavin at the Indy Star...

Team Owner · 6 Feb 2006, 20:56 (Ref:1516855)

You might see Enge in a one car effort from Panther. The negotiations have taken a serious turn from what I've been told. Hemmelgarn is also close to a one car team with an American driver.

Tim Northcutt · 6 Feb 2006, 21:08 (Ref:1516870)

Did you stop by the auction today, Team Owner???

See any "Familiar" faces???

If you don't want to sahre that publicly, I'd be curious to know privately....

Tim Northcutt · 8 Feb 2006, 13:47 (Ref:1518071)

I was too busy on Monday to follow the auction on-line, but I did yesterday afternoon for a little bit.

A few notes:

1. From the list that I read on Monday's items, it seemed as though I read that only two Dallaras were listed (2005 specs) instead of four, but I could be wrong about that....and since I did not get to follow the auction on-line, I did not get to see whether or not they were sold or how much they were purchased for by anyone.

2. Some items sold for very little....they had 4 Chevy engines and two more that were built by Speedway Engines for sale yesterday...the first Chevy engine went for $6,000, and after a top bid of only $4,000 was submitted for the 2nd in line, all others were pulled except for two Aurora "Dummy" engines, which sold for $450 each....

3. Some of the equipment yesterday afternoon was bought by an on-line buyer with an interesting screen name..."foytrules"

I wonder how much gear they actually sold, and what the total take was for Panther...

climb · 8 Feb 2006, 14:24 (Ref:1518084)

ANy hint from Team Owner would be very interesting: can you bring in some more info concerning other teams?

Cheever for instance....

Snrub · 8 Feb 2006, 15:09 (Ref:1518106)

That's a crazy low price for those engines, but I guess it's also a matter of demand.

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