Not good enough for F1, Speed forced down to 4th tier series

Team Red Bull formally announces an agreement with former Formula 1 Scuderia Toro Rosso driver Scott Speed to race the No. 2 Red Bull Toyota Camry with Eddie Sharp Racing for the 2008 ARCA Re/MAX Series Season. Patrick Donahue will serve as crew chief for the rookie driver as he begins his ascent into stock car racing.

Red Bull may consider occasional opportunities for Speed in NASCAR as the 2008 season progresses. Speed’s connection with Red Bull dates back to 2002, when Speed won the Red Bull Driver Search, a program aimed at putting an American talent into Formula One. With Red Bull backing, Speed raced his way through the European ranks and into a full-time seat in 2006 at Red Bull Racing’s sister team, Scuderia Toro Rosso, before mutually parting ways in 2007.

QUOTES:
SCOTT SPEED – No. 2 Red Bull Toyota Driver: “I’m really excited to race ARCA because it’s an opportunity to learn a completely new animal for me – stock car racing – without being put under a huge spotlight. One of the great things about ARCA is that you have a whole field full of young guys like me just trying to make a name in this sport. It’s hard to judge the level of competition I’ll face next year, but that’s just part of the fun."

GUENTHER STEINER – Vice President, Competition, Team Red Bull: “Red Bull started investing in Scott’s racing career a long time ago, so when he wanted the chance to drive stock cars, we wanted to help integrate him into the sport by earning his way up through the ranks. Scott’s a very technical driver with a lot of raw talent. He’ll be facing a lot of new challenges next year, but there’s no doubt that he has the skills to someday make it to the highest level in NASCAR."

EDDIE SHARP – Owner, Eddie Sharp Racing: “The program we’ve put together is a win-win situation for both Scott and our team. We’ve worked hard to attract drivers of Scott’s caliber and put them in competitive equipment with an experienced team. It’s always nice to learn from a driver who has a fresh new outlook on the sport. There’s a lot of excitement rushing through our shop right now to get next year started."