Richard Petty believes investor deal near completion
By Bob Pockrass - Associate Editor
Saturday, May 17, 2008
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CONCORD, N.C. – Richard Petty said plans for an investor partnering with Petty Enterprises are coming to fruition - and that Bobby Labonte is an important part of that plan.
Labonte said Thursday that he expected to have his plans for 2009 and beyond formalized in the next two or three weeks.
Petty Enterprises officials have said they expect Labonte to remain with the team beyond his current contract period, which ends this year.
“He’ll be our base driver,” Petty said Friday at Lowe’s Motor Speedway. “And then we’ll go from there with another car or with two more cars or whatever the situation. We’ve got to get a good foundation, and Bobby is part of the foundation.”
Negotiations are continuing with a potential investor, Petty said.
“We’re still working on it,” Petty said. “We’re trying to put everything together [to announce] at one time about what we’re going to do,
who is going to do what. Hopefully [that will happen] in the near future, but you never know. It’s going to happen.
“We’ve talked to two or three different groups and keep talking to them saying, ‘What’s going on here, guys?’ We’ve kind of narrowed it down [from two or three], lately. We’re getting kind of serious with these guys. It’s going to happen. It’s just a matter of doing it.”
Petty said once the investor comes on board, it won’t turn things around overnight. Labonte is 19th in NASCAR Sprint Cup points but the No. 45 team with Kyle Petty has struggled at 42nd in owner points.
“It’s not going to make the race cars blow up and run any faster than they are now,” Richard Petty said. “This is just the beginning of the
future.”
- Mentioned Drivers:
- Bobby Labonte
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