Richard Petty has seen ups and downs, but nothing like this
Over the past several decades, Richard Petty has seen just about everything in NASCAR.
But he admits he’s never seen anything like this.
“The economy has really hit us between the ears,” he said.
You might think the seven-time Cup champion is stating the obvious. What he’s really saying is that NASCAR, and its teams, have never before been so negatively affected by an economic downturn.
“Things have always been up and down in NASCAR,” he said. “It’s been way up, way down and flat. We’ve had good times in the economy, and we’ve had recessions.
“But those recessions were in the tobacco industry, the textile industry, the automobile industry and others. They really didn’t affect the teams.
“Now, not only are the teams affected, everyone is. It’s different this time.”
Among those affected is Petty, or more specifically, Richard Petty Motorsports, the team he is a part-owner of after the merger of the former Petty Enterprises and Gillett Evernham Motorsports.
Automakers Chrysler and General Motors have filed for bankruptcy and have cut back their support of Sprint Cup, Nationwide Series and Camping World Truck Series teams.
RPM, and its Dodge teams, have lost needed income provided by Chrysler. That led to rumors that at least one team, that of Kasey Kahne, would switch to Toyota.
But RPM has said it will stay with Dodge for the remainder of the season.
Then what?
Petty doesn’t know.
He said that RPM has to deal with sponsorship issues and then let the dust settle around the recently resolved Chrysler bankruptcy.
He said that if Chrysler, or rather its new owner Fiat, is tuned into racing, that’s good news. If not, it’s going to cause a lot of turmoil.
“Reckon then we’re all just going to have to run in there and do the best we can,” Petty surmised.
Petty added that, amid this all-encompassing recession, there’s not much the teams can do.
They could cease operations or be absorbed by another organization, as Petty Enterprises was by Gillett Evernham Motorsports.
“Other than that, we all have to tighten our belts to make it work,” Petty said. “Our sponsorships don’t give us as much. Obviously, the manufacturers don’t give us as much.
“We have to say, ‘OK, this is our budget. We have to do as much as possible within it.’
“We have to look at travel costs, personnel costs, equipment costs and everything else. There’s no testing, so we get a break there.”
Always conscious of the fans, which he has said repeatedly form the foundation of NASCAR, Petty noted they, too, are all a part of this. And they also have to make their sacrifices.
“We have the most transient professional sport,” he said. “By that I mean our fans don’t come from right down the street, OK? The come from 200, 300 miles away or more. That’s expensive, and they have their budgets, too.
“I think they can afford tickets, but I’m not sure how much they can afford the travel. And even when they do travel, I doubt they stay as long as they used to.
“Tracks might even give away tickets, and I’m not sure they would come like they used to.”
Petty remains optimistic. As said, he has seen NASCAR endure rough times only to survive and even prosper.
“Now, times are not up by any means,” he said. “But we’re not falling through the floor. We’re all watching what’s going on, and when it gets stable, we’ll come out the other end just fine.”
