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Chip Ganassi Racing With Felix Sabates may merge with Dale Earnhardt Inc., the company founded by the late seven-time Nascar champion, Fox Sports reported on its Web site.

Ganassi is discussing a combination to bolster sponsorship opportunities, Fox Sports said, citing people it didn't identify. Steve Lauletta, president of Ganassi, told Fox without confirming the talks that the team would consider anything to make it stronger and more competitive.

Concord, North-Carolina-based Ganassi plans to field two teams in Nascar's top Sprint Cup Series and one in the second- tier Nationwide Series next season, John Olguin, Ganassi's vice president of communications, said in an interview. He refused to comment on the Fox report. Dale Earnhardt spokesman Kevin Wood didn't immediately return a call seeking comment.

Nascar teams have been forming alliances and taking on investors to help tackle rising costs as sponsorship money dries up because of the slowing U.S. economy. Ganassi is owned by former IndyCar racer Chip Ganassi. In Nascar, it fields the cars of Juan Pablo Montoya and Reed Sorenson. The Sprint Cup stable of Dale Earnhardt Inc., located in Mooresville, North Carolina, includes four cars. It has only one full-time sponsor announced for next season.

(Source: Bloomberg)