Petty CEO declines comment on merger report
Petty Enterprises has discussed the possibility of merging its NASCAR Sprint Cup program with Gillett Evernham Motorsports, but the exact progress of those discussions remains unclear, according to sources.
Contacted Thursday by phone concerning an SI.com report that the two companies had decided to merge and there would be no cars competing under the Petty banner next year, Petty Enterprises Chief Executive Officer David Zucker said "we would have to listen to any merger or combination with other teams” and that he would not comment on the specific report.
“We don’t comment on rumors and speculation. I have no idea where that [report] is coming from,” said Zucker, who spent Tuesday and Wednesday in New York at a motorsports marketing forum and seminar. “I really have no idea. If we have something to say, we’ll say it. We have no comment on speculation.”
A month ago, team founder Richard Petty said ““we’ve talked to everybody about everything that could be talked about” as far as merger possibilities.
GEM issued a statement saying it would not comment on the report, but GEM executives have said they wanted to explore any way to have four teams.
A GEM-Petty merger would give the organization five current teams, with three locked into the first five races for 2009. One of those teams would have to be cut because NASCAR legislates that each organization can only field four teams, except Roush Fenway Racing which is grandfathered in with five through 2009.
Both companies have been involved in restructuring recently.
Founded by Lee Petty in 1949, Petty Enterprises is NASCAR’s oldest and winningest organization. It has 268 NASCAR Cup wins and 10 driver championships, three by Lee and seven by his son, Richard. The organization has not won a Cup race since 1999.
Petty Enterprises announced earlier this year that it sold a majority interest in the company to Boston Ventures. Zucker was named CEO at that time.
Petty Enterprises has not announced a sponsor for the No. 43 car driven by Bobby Labonte for next year. Its second Cup car, driven by Kyle Petty in 2008, is expected to be driven by Chad McCumbee, depending upon sponsorship.
GEM, restructured in mid-2007 when the Gillett family bought 80 percent of Evernham Motorsports, won two races this year with Kasey Kahne to increase its total to 15 since its inception in 2000.
It has announced a four-race sponsorship for its No. 10 car and has full sponsorship for the No. 9 of Kahne (Budweiser) and the No. 19 of Elliott Sadler (Best Buy/Stanley).
