MELVILLE, New York (January 8, 2008) -- Mike Ashley is no stranger to adversity or crisis in business. This morning, Ashley received a telephone call from his longtime sponsor Torco Racing Fuels, indicating that they would be taking the year off of drag racing. That leaves the opportunity wide open for new sponsors to step in and become a part of Ashley's winning team.

"While I'm shocked and surprised, first I want to say that Evan Knoll is a friend and a first class guy, I appreciate everything he's ever done for me, and I maintain the utmost respect for him," Ashley said.

"Although Torco was not specific in the conversation with me, I certainly understand based on the current state of the world economy and fuel and oil price instability why this would be an intelligent business move the them to take a break from racing in 2008.

"This leaves an incredible opportunity for entertaining new sponsorships, partnerships or mergers in order to continue operations," Ashley said.

Ashley said his company, Lend America, will temporarily take on the roll of primary sponsorship while new marketing sponsorship is secured. He also said his Gotham City Racing team expects to retain Melanie Troxel to drive.