Thursday, September 21, 2023
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NASCAR Driver Sues Financial Advisers

LOS ANGELES (CN) - NASCAR driver Robby Gordon countersued his former financial advisers, who demanded he pay them for allegedly botching a $23.5 million deal to sell Gordon's racing team.

Gordon says he should not have to pay McLaren Capitol Advisors more than $1 million to set up the failed sale to Gillett Evernham Motorsports. Gordon claims McLaren it knew the sale was doomed. He claims McLaren lied about the sale and did not have the right licenses to complete it.

Gillett Evernham Motorsports sued Gordon in September for backing out, and Gordon says McLaren withheld "documents, information and cooperation" that would have helped him settle the lawsuit.

The two racing teams agreed to drop the merger and dismissed the lawsuit.

"In the end, it was circumstances beyond their control that caused the merger not to proceed," Gordon said two weeks ago in a statement explaining the settlement.

Gordon is represented in Superior Court by Steven Nichols.

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