Penske South to drop team

UPDATE #4 Eastman Kodak Co. has asked Penske Racing South for a one-year hiatus of its primary sponsorship of the No. 77 Dodge to allow the organization "to field a more competitive team," a company spokesman confirmed Wednesday night. "We have asked Penske to take a year off, come back to us with a plan to field a Nextel Cup program that is more competitive in 2007," said David Kassnoff, manager of communications and public relations for Eastman Kodak.

"Penske has three teams, two of which made the Chase for the Championship this season. So, you know the ingredients are there to be successful. "We would like to see a similar competitive level from the No. 77." ThatsRacin.com

12/05/05 Despite repeated denials from Penske Racing, Kodak is pulling its sponsorship, and the #77 team is being dismantled. This is a sticky situation because Doug Bawel entered into a partnership with Penske Racing two seasons ago, and now he's on the outside looking in. The move comes on the heels of a major restructuring at Penske's Mooresville, N.C.-based campus. Sporting News 11/29/05 This rumor goes from 'false' to 'true' in one fell swoop as the #77 team was shut down today after Kodak decided to not renew. 11/17/05 According to Jayski, he was told today that this rumor is not true and that Penske managed to keep Kodak. 11/16/05 Rumor has it that Penske Racing South with drop the #77 Kodak team at the end of the 2005 season because Kodak is leaving as a sponsor.