Richard Petty agrees to team with Gillett Evernham Motorsports
Gillett Evernham Motorsports and Petty Holdings have agreed to form a new racing organization that will field three full-time Sprint Cup cars and one part-time entry in 2009.
Neither the name of the team nor the driver lineup was announced. The team will be co-owned by Richard Petty, the Boston Ventures-controlled Petty Holdings and GEM (which is co-owned by the Gillett family and Ray Evernham), according to a news release from GEM.
“I want to get back to winning and together we will bring the resources, technology and infrastructure to do that,” Petty said in a statement. “This was a big decision for us but it’s something we really wanted to do.
“We hope everyone in the sport embraces what [GEM co-owner] George [Gillett] and I are doing. Nothing is going to change for me. I’m going to be at the track every weekend and really involved with the teams and drivers back at the shop. We are very happy. George and I have a lot of work to do, but we have a plan and we’ll be ready for Daytona.”
Founded by Lee Petty in 1949, Petty Enterprises has 268 NASCAR Cup wins and 10 driver championships, three by Lee and seven by his son, Richard. Kyle Petty drove for the team from 1979-1984 and then returned to the Petty banner in 1997.
In June, Richard Petty announced that he had sold a majority interest of the team to investment group Boston Ventures, but also said he would have to give his approval for any sale of the team.
“A lot has changed over the years in NASCAR but success still boils down to that cat holding the steering wheel and how he conducts himself both in and out of the car,” said Petty. “I really want to help these guys with their driving and their careers.”
By merging with Petty, GEM adds a car that is locked into the first five races of 2009 by virtue of finishing in the top 35 in 2008 owners points.
Last season, the No. 9 GEM team was 15th in owner points while the Petty No. 43 team was 22nd. The No. 19 GEM team was 24th, the No. 10 GEM team was 37th and the No. 45 Petty team was 41st.
“To join with Richard Petty and Petty Holdings is such an honor for me and my family,” said George Gillett, whose business interests also include ownership in the Montreal Canadiens hockey team and the English Premier League’s Liverpool FC soccer team.
“Richard and I have gotten to know each other well over the last few years and both of us believe we have formed something that NASCAR fans will support. We plan to keep the Petty name in the forefront of NASCAR. We ask that all of the King’s fans join with us. Our goal is to get the cowboy hat and sunglasses back in victory lane.”
The release did not mention a driver lineup except for GEM driver Kasey Kahne. The part-time fourth car will compete in at least eight races, including the Budweiser Shootout.
“I’ve gotten to know Richard over my five years working with Dodge and I look forward to being around him more,” said Kahne, who had two wins in 2008 while barely missing the NASCAR Chase For The Sprint Cup. “This is pretty awesome. The Gilletts have done a fantastic job of putting this together.
“I think you can see their commitment to winning. We could have kept on the same path, but they made a pretty bold statement that they are here to win.”
The team must still announce drivers for its other three cars, and could face a lawsuit over its driver stable. Elliott Sadler, who reportedly has been dropped in favor of AJ Allmendinger for the No. 19 car, has filed a notice with North Carolina Superior Court in Statesville, N.C., that claims that GEM breached its contract with Sadler.
Reed Sorenson is expected to fill one of the full-time slots as he has signed to drive for GEM and probably would land in the No. 43 car. With Bobby Labonte announcing his departure from Petty Enterprises last month, Petty has only driver Chad McCumbee under contract. His status remained unclear.
The deal is expected to be finalized by the end of January.
This was not the first time that the Gillett family has been in discussions with Petty Enterprises. Richard Petty has said that he was 50 percent along in negotiations to partner with Gillett in 2007, but that deal fell through when GEM wanted 80 percent ownership in the Petty organization.
“We are excited about this transaction and believe it will continue to keep the Petty name at the forefront of motorsports for decades to come,” said Barry Baker, chairman of Petty Holdings, which will continue to operate the Richard Petty Driving Experience.
Petty executive vice president of racing operations Robbie Loomis, longtime employee and former crew chief Dale Inman and vice president of marketing Brian Moffitt will have active roles in the new organization.
The teams will work out of the GEM shops in Statesville, N.C.
