Payton Files Suit against Partner Coyne
©1999 SpeedCenter Publishing

Stock sale profit sharing the issue

The Chicago Sun-Times reported Wednesday that Payton/Coyne Racing co-owner Walter Payton has filed suit against Dale Coyne for allegedly not sharing the profits from CART stock sales.

Payton, 17 percent owner of the team, expected to receive 17 percent of the proceeds of the stock sale. Coyne states that his agreement with Payton would put such profit sharing at the end of their 5-year-agreement when renewal or buyout of the partnership comes up again (in 2001).

    line
line
[  News Index  ][   SpeedCenter Homepage  ][   Copyright Info  ][   SpeedCenter Galleries  ]