Petty CEO declines comment on merger report
By Bob Pockrass - Associate Editor
Thursday, December 04, 2008
Bobby Labonte, driver of the No. 43 Petty Enterprises Dodge, finished 21st in the NASCAR Sprint Cup Series final standings in 2008.
Chris Graythen
Getty Images
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).
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31 responses to "Petty CEO declines comment on merger report". Post a Comment.
JLynn F said:
Dec 4, 2008 at 2:43 PMWhen somethings denied that fast.. it usualy is true. It'll be a shame if it happens.
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» Confirm Abuse ReportRyden Caparelli said:
Dec 4, 2008 at 3:08 PMNot a bit suprised though. This team hasnt won in 10 seasons now. Maybe this is just what Bobby needs, to be part of a mega team that can give him the resources he needs, not so much to win, but to be consistent, something the Petty's are not going to be able to provide.
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» Confirm Abuse ReportKeith Johnson said:
Dec 4, 2008 at 3:23 PMLooks like a 30/36 car field for next season in Cup. The four car teams will dominate again next year and the smaller teams will quit if they survive that long.
Report as AbuseNASCAR has outpriced the market which started four years ago about the same time all the crazy changes took place.
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» Confirm Abuse ReportScott Hall said:
Dec 4, 2008 at 3:36 PMKeith I remember personally hearing Richard Petty in 1987 talking to a group of reporters at Martinsville Speedway. At that time Richard was asked, "Where do you see NASCAR in 20 years?" Richard's reply was, "I see NASCAR pricing itself out of the market of the average consumer and I also see a day when half a dozen billionaire owners control all the cars in the sport." Looks like ol' Richard was right on track huh?
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» Confirm Abuse ReportChelsea said:
Dec 4, 2008 at 3:47 PMOkay someone clear this up for me...would Bobby remain the driver of the 43 if this happens? Or would they go with someone else, such as AJ...because GEM has wanted to keep him around.
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» Confirm Abuse ReportB McMillan said:
Dec 4, 2008 at 4:22 PMIf this is true, I have lost all interest in NASCAR. The only reason I have watched was for the slim chance to see Petty Enterprise in victory lane and be competitive. My wife will be happy now, but it will be a sad sad day when/if Petty Enterprises is not entered in a race. Almost as sad as the fateful day in 2000...
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» Confirm Abuse ReportAndrew Briscoe said:
Dec 4, 2008 at 4:29 PMChelsea, I would hope that, in the event this does go through, that Bobby would remain in in #43. No offense to AJ, I think any owner that passes on signing him is an idiot, but Bobby just signed an extension with Petty this year that's good till 2011 or so. Replacing him with AJ Allmendinger, whether or not he would be a perfect fit with Gillette would be the big proverbial finger to Petty. @JLynn: The worst thing that could happen to NASCAR would be Petty, The Wood Bros, or both to leave or have to merge with another team to survive. Whether they are sub-par or not, they still show that the smaller teams can put up a fight in NASCAR. If NASCAR continues the way it's going, there will be 29 teams at Daytona that have a shot at being truly able to fight for the win, 7 will be semi-competitive, and the rest will be field fillers. I can't see there being a full field at more than 20 races or so next year. NASCAR's costs today are going to force them to eliminate their own restrictions just to fill the 43 starting spots. By the end of 2009, I can see teams like Hendrick and Childress and others that can afford it having two or three part time teams that run just to collect the $60,000 or whatever it is for finishing at the bottom. It's sad how far the sport has deteriorated now that teams that were charging $20 million for their subpar team to carry a logo are whining because they can't possibly survive on making only $2.5 million next year (assuming absolutely no sponsorship, and $65,000 in race winnings every week). It will be shown in 2009 whether or not it's really $20 million a year to get a team going or not. Yates sorta proved that this year with his teams running patchwork sponsorships, but it'll really be evident in 2009.
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» Confirm Abuse ReportSusan Marlier said:
Dec 4, 2008 at 5:12 PMTo lose Petty Enterprises, is to lose NASCAR. Thanks to Richard Petty signing autographs until the last person got one, no matter how late he had to stay, is what helped put the sport on the map. The fans like that he was there for them. And it would be such a shame for Petty Enterprises to NOT BE IN A RACE.
Report as AbuseNASCAR needs a big overhaul. They have alienated all the fans that made NASCAR what it is today. Race ticket prices are out of sight. NASCAR needs to take a lesson from baseball. They raised the prices where the average person can no longer go and they have many EMPTY seats, just like the races are seeing.
Susan
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» Confirm Abuse ReportWerner Boehmert said:
Dec 4, 2008 at 5:31 PMmany teams have gone and gone in NASCAR...
Report as Abusenothing lasts forever, altho sometimes we wish they would...someday even Hendrick, Childress and Roush may disappear and new owners will appear...Harvick, Gordon Stewart, Waltrip and maybe even Johnson may be the future super teams...
btw...Richmond tix are on sale for $60...that's a great deal if you ask me...
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» Confirm Abuse ReportWerner Boehmert said:
Dec 4, 2008 at 5:31 PMmany teams have gone and gone in NASCAR...
Report as Abusenothing lasts forever, altho sometimes we wish they would...someday even Hendrick, Childress and Roush may disappear and new owners will appear...Harvick, Gordon Stewart, Waltrip and maybe even Johnson may be the future super teams...
btw...Richmond tix are on sale for $60...that's a great deal if you ask me...
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» Confirm Abuse ReportS Beau said:
Dec 4, 2008 at 6:04 PMAgreed with Susan. Only if Petty goes down, that's it. I'm washing my hands and walking away from NASCAR. I'm that disgusted with the state of it.
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» Confirm Abuse ReportDavid Marks said:
Dec 4, 2008 at 6:19 PMLots of crazy thing going on right now, but I was more surprised by an email this week that season tickets are available at Bristol without a waiting list.
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» Confirm Abuse ReportRobert Osbourne said:
Dec 4, 2008 at 6:31 PMI wonder if this is what NASCAR had in mind when they were making all those rule changes...It appeared to me that every time a Dodge team or Dodge came up with new technology to make them competive or even win...then NASCAR would make rule changes that negated their progress...I don't think that there is anyway that Dodge teams are going to get a fair deal in NASCAR...
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» Confirm Abuse ReportRobert Osbourne said:
Dec 4, 2008 at 6:32 PMI wonder if this is what NASCAR had in mind when they were making all those rule changes...It appeared to me that every time a Dodge team or Dodge came up with new technology to make them competive or even win...then NASCAR would make rule changes that negated their progress...I don't think that there is anyway that Dodge teams are going to get a fair deal in NASCAR...
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» Confirm Abuse ReportRobert Osbourne said:
Dec 4, 2008 at 6:34 PMA diehard Petty fan since 1964...I would really be disappointed
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» Confirm Abuse ReportKenny Brackett said:
Dec 4, 2008 at 6:36 PMI'm just glad I was around to see THE KING in his hey day. The 70's and 80's were the BEST RACING Nascar Ever had. No Petty Ent Team IS THE END OF AN ERA. Lets Hope Ol Bama can get this country back going forward so Racing can not let anymore bleeding continue. Thanks For The Memories Richard!
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» Confirm Abuse Reportwalter gruner said:
Dec 4, 2008 at 6:37 PMIt's obvious that the economy played into this deal a great deal but, the absolute greed of NASCAR and the top four or five owners are the real cause. Win's, championships have been bought for the last 10-15 years. It's been cubic dollars, not cubic inches!
Report as AbuseNASCAR has been in constant competition with teams for sponsors for years and that has driven the 1-2 car teams down. Sponsor the series, the tracks, but, how many "official toilet bowl cleaners" does NASCAR need? Just the one they are about to go down it looks like.
Bill Elliott was told that NASCAR didn't want him coming in and stinking up the show! They wanted to do that themselves and they have. They never gave a hoot about the history, the drivers, the teams, especially the fans, it has been the dollar they respected and how they could milk their own gig for every possible one!
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» Confirm Abuse ReportDavid Jones said:
Dec 4, 2008 at 6:53 PMI became a fan when I attended a race at Rockingham back in 1981. At that time, the sport had a lot of "growing" left to do. There were already multi-car teams, though they didn't dominate the way they do today.
Report as AbuseThere were also independents who begged and borrowed to get to the track every week. Back then there weren't enough sponsors to field 43 top notch cars every week and "go or go home" just wasn't much of a problem. The racing wasn't always as close as it is now, and fewer cars really contended every week the way they do now, but just look at the history of the sport and the stories from the early days, the 80s and 90s, and then console yourself. It will be different, but it will still be NASCAR, and it will still be interesting and often exciting.
I use to look forward to seeing how guys like Sanford North Carolina's own, the late J.D. Mc Duffie made out each week in the Rumple Furniture Pontiac. He and others showed up and made the field and managed to eke out a living running against the big teams of the time.
I think we'll still see full fields even though some will drive around until it's time for a set of tires and then park it with "handling problems" so they don't run up the tire bill.
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» Confirm Abuse Reportterry ruth said:
Dec 4, 2008 at 8:03 PMI hate it....I hate it....no Pettys
Report as Abuseno Wood Bros....more than likely no Yates
If this is true.....no me I've had enough. It's not worth my money or time anymore. It is not stock car racing any more...as for Bill Elliot stinking up the field...12th at Homestead was in front of a bunch mega team chase cars.
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» Confirm Abuse ReportWerner Boehmert said:
Dec 4, 2008 at 8:23 PMin the words of Waylon Jennings..."maybe it's time we got back to the basics of life"...if these super-mega teams is the future...i want no part of it...thanks to people like Alan Kulwicki...thanks to Robbie Gordon for trying...
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» Confirm Abuse ReportJerry Hawks said:
Dec 4, 2008 at 8:33 PMTo not have a petty car in a race would be a sad day. I grew up on the pettys and wood brothers. Then there came the allisons, earnhardt, bonnett, elliot, etc. These people made the sport, they were good people with good hearts that simply loved racing for racing. Just like all otehr sports, it has became too much of a business. Someone needs to start a new division and start it where the teams like in the past can come in and be competitive. Put it back in the drivers hands, not in the technology. It was definitely better to see when it was the drivers that made teh difference not the car.
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» Confirm Abuse Reportbill thompson said:
Dec 4, 2008 at 8:54 PMpetty said it would happen and it looks like it has. he's probably ready to get away from the circus nascar has become so that his good name wont be part of the terrible trajegdy that is now happening. nascar has pushed the TRUE fan to the curb to grab every dollar they can as quick as they can. nascar cannot survive this. i will attend 0 races this season(usually i do 4 or 5) for the first time in 25 years! don't buy into the economy BS. if they wouldn't have ruined the raceing ,most good folk would still be going. DEATH TO THE COT!!!! france doesn't care he has the millions made off the real fans!!!!
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» Confirm Abuse ReportSteve C said:
Dec 4, 2008 at 9:17 PMIf NASCAR lets Petty Enerprizes close its doors, NASCAR will be signing their own death order. PE is NASCAR, This goes right to an artical written about the Wood Bros. NASCAR needs to take 20 million of their sponsor money and hand it to Richard. But any of us who have been around NASCAR for any amount of time know Big Bill would never let this happen. Sad,Sad,Sad.
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» Confirm Abuse ReportWerner Boehmert said:
Dec 4, 2008 at 9:40 PMwhen NASCAR went public on Wall St...that marked the end of an era...it seems the priority may just be the shareholders and not the fans...it's trading at 26.69...
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» Confirm Abuse Reportterry ruth said:
Dec 4, 2008 at 10:00 PMWerner you may be on to something....follow the money.....Maybe Bruton and Humpy can look back to when it was about the race and the fans and take control. If it is all bottom line and no heart and soul...than the mind will not let the hand spend the money....no heart no fan....
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» Confirm Abuse ReportJozef Colomy said:
Dec 5, 2008 at 12:18 AMThis has nothing to do with NASCAR as an organizing body or anything. It has everything to do with the Petty Enterprises' sheer mediocrity at best. Look, no team will get money if they do not perform. General Mills left them because they promises a Chase team and did not deliver so they went to RCR and Clint Bowyer, who will deliver. It's all about results, and Petty does not have those. Although that's not to say I'm not a fan, but let's be practical. And to everyone who says they'll hate NASCAR for this: remember King Richard sold himself out already, Petty Enterprises is "Petty" in name only...
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» Confirm Abuse Reportterry ruth said:
Dec 5, 2008 at 11:27 AMNASCAR.....IS STOCK CAR RACING ....ONLY IN NAME......THIS IS ANGER IS MUCH MORE THAN JUST ABOUT THE PETTY'S...
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» Confirm Abuse ReportGraceann Jackson said:
Dec 5, 2008 at 12:12 PMJozef Colomy: You really have no clue! I don't think I have ever read 1 positive post by you. If you were really a fan, of the Petty's, NASCAR or anything at all to do with this sport, then you would know what this really means. This not only pushes The Petty's out, along with the many others before and the many more that are sure to follow. Do you really want to support a sport that 1 Family has so much control the the very drivers that made this sport, and I mean MADE THIS SPORT have been forced out by the hand of the Grandson-son of the men they stood beside years ago? If they had not paved the way for these drivers today NASCAR would have died out long ago. Their accomplishments have brought attention to the sport and cause the fan base to grow. Their continued support and contributions today keep the fan base growing. The COT plus many other contributing factors have raised the dollar amount to high for many small teams to remain. It's a shame that money and greed have taken over because now the races will remain the same, same winners(3-4drivers only) same teams, no upsets, nothing will change from what you witnessed this season. The title will rotate between the 4 meg-teams, Hendrick, Childress, Gibbs, Roush. So pick your new driver cause the rest don't have a chance.
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» Confirm Abuse ReportMeg said:
Dec 5, 2008 at 2:32 PMOh for crying out loud... So what if they are going. So is GM if they don't get this bailout ... How's that coming along today?? Wait until many Chevy dealers start closing their doors.. Whatcha gonna do ??? Time to move on. Nobody has to stay open forever just because you inherited a team that founded the sport. Even Teresa has had enough. Can anybody blame her for bowing out ?? Not me. Enjoy life while you have a chance and not because you are obligated to carry a torch !
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» Confirm Abuse Reportbill thompson said:
Dec 5, 2008 at 5:11 PMteresa who? dale made that team not her. good bye girl.petty actually did many things for this sport!!!!
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» Confirm Abuse ReportJames Mogseth said:
Dec 5, 2008 at 6:21 PMI've already quit watching the races live. I hardly even set my vcr to record anymore. I started to lose interest when Dale was lost. NASCAR has turned into more politcal b******t than has the race for the presidency. Good-bye to the Petty family, good-bye to NASCAR. Keep up the posts though, I love to see the anger the fans show and tell on the subject. By the way, anybody else disagree that $60 is too much a ticket? Drop it down to an amount that "average joe" can spend without it hurting. Anyone object to making a package ticket that allows a drink and hotdog? Come on NASCAR, if you want to fill the stands again and keep your coffers full, make us fans a real deal. Or go away with the economy. Your call.
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