Osterlund Racing is a former NASCAR Cup Series team that competed from 19777-1981, then again from 1989-1991. This is the team that Dale Earnhardt won his first championship with . Several notable drivers spent time behind the wheel of one of the team's racecars such as Dale Earnhardt, Neil Bonnett and Dave Marcis among others.

In the early 1980s, Osterlund made some bad business decisions which led to him having to sell his race team. Right in the middle of the 1981 Nascar Cup Series season, Osterlund Racing was sold to Jim Stacy.

By the end of the 1980s, Osterlund decided to become a Nascar Cup Series owner again. So in 1989 Hut Stricklin drove the team's #57 Heinz Pontiac. Then Jimmy Spencer got his shot at running in the Cup Series full time. Osterlund Racing's final race was the 1991 Daytona 500, where Buddy Baker drove a #88 Marines Pontiac, unfortunately engine issues ended there race. After that race the team shut down for good.

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