Home Depot fines Stewart, institutes probation

The Home Depot fines NASCAR driver Tony Stewart. Institutes $50,000 fine for Brickyard 400 incident. Imposes probation for remainder of 2002 season. ATLANTA (August 8, 2002) - The Home Depot, sponsor of NASCAR Winston Cup Series driver Tony ...

Home Depot fines Stewart, institutes probation

The Home Depot fines NASCAR driver Tony Stewart.
Institutes $50,000 fine for Brickyard 400 incident.
Imposes probation for remainder of 2002 season.

ATLANTA (August 8, 2002) - The Home Depot, sponsor of NASCAR Winston Cup Series driver Tony Stewart and the #20 team of Joe Gibbs Racing, has fined Stewart $50,000 and placed him on probation for the remainder of the 2002 season following an incident with a photographer upon the conclusion of the Brickyard 400 at Indianapolis Motor Speedway on August 4, 2002.

The fine and probation are in addition to the $10,000 fine and probation NASCAR levied against Stewart following their own investigation.

The $50,000 fine will go to the United Way of Central Indiana to be used for a variety of after school programs for children. The Home Depot made its decision after consulting the publisher's office of The Indianapolis Star-News , the newspaper whose freelance photographer was involved in the incident.

"Tony Stewart's actions following the Brickyard 400 do not at all represent the values and beliefs of the over 290,000 associates who comprise the backbone and spirit of The Home Depot," said Hugh Miskel, director of sales promotion for The Home Depot. "We value our relationship with the media, fans and competitors of NASCAR, and the behavior displayed following the Brickyard 400 will not be tolerated from any member of our race team now or in the future."

The Home Depot, the official home improvement warehouse of NASCAR, has been the primary sponsor of Joe Gibbs Racing and Stewart since 1999.

Founded in 1978, The Home Depot is the world's largest home improvement specialty retailer and the second largest retailer in the United States, with fiscal 2001 sales of $53.6 billion. The company employs more than 296,000 associates and has 1,448 stores in 49 states, Puerto Rico, seven Canadian provinces, and Mexico. The company, for the second year in a row, was named the sixth Most Admired Company in America by Fortune magazine, which has also ranked it as America's Most Admired Specialty Retailer for eight consecutive years. Its stock is traded on the New York Stock Exchange (NYSE:HD) and is included in the Dow Jones Industrial Average and Standard & Poor's 500 Index.

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