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Partnership won’t alter Petty Enterprises' driver lineup
By Kenny Bruce - Assistant Managing Editor
Thursday, June 12, 2008
Richard Petty
David Griffin
NASCAR Scene
CONCORD, N.C. – While the ownership picture of Petty Enterprises has taken on a new look, the NASCAR Sprint Cup team’s driver lineup won’t change anytime soon.
Officials announced Wednesday that Bobby Labonte, who joined Petty Enterprises in 2006, has signed a four-year extension to remain as driver of the team’s No. 43 Dodge. And Kyle Petty, grandson of team founder Lee Petty, said he will return next season to drive the team’s No. 45 Dodge.
Boston Ventures, a private equity firm, became the latest investor group to align itself with a NASCAR organization, announcing Wednesday that it had formed a partnership with the legendary 60-year-old racing operation.
Labonte, the series’ 2000 champion, said his new deal includes options that would allow him to continue driving beyond 2012 as well as “options after that if I wanted to stay in a different role.”
Currently 19th in the point standings, Labonte called the investment by Boston Ventures a relief, “but that just puts more pressure on us to succeed in racing.
“The other part of it,” he said, “the [Richard Petty] Driving Experience, the partnerships, later on in life, that’s all fine and good. But that’s not my focus. ... Mine is how do we go to Michigan [this weekend] and improve and get better?”
Petty, who is taking a break from driving to work for Turner Network Television for six races, says he enjoys working in the booth, “but I’m not ready to do that fulltime.
"I still want to drive a race car. And I still have an opportunity to drive a race car here. That’s the main thing that was on the table for me that I was more excited about than anything. That just because you’re changing owners, I’m not getting fired.”
Petty, 48, is an eight-time winner in the Cup series. But he hasn’t won since 1995, and is currently 41st in driver points. The No. 45 team is 42nd in owner points, meaning the team has to qualify for each race based on speed.
The addition of a third team for the organization likely won’t occur before 2010, according to Robbie Loomis, vice president for racing operations at Petty Enterprises.
“We want to get these two [teams] healthy,” Loomis said. “There won’t be anything with a third team, at the earliest, until 2010. The only thing we might do is run a third car in about seven races, in preparation for 2010. It could be seven to 12, but there definitely won’t be a third team until 2010 at the earliest.”
Mentioned Drivers: Bobby Labonte
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