Sources: Petty Enterprises-Gillett Evernham merger nearing completion
Petty Enterprises told several employees this week that they will be without jobs next week as the Gillett Evernham Motorsports merger/acquisition nears completion, according to sources familiar with the Petty situation.
Petty employees being retained will begin working out of the GEM shop next Monday.
Petty Executive Vice President Robbie Loomis declined comment, but no officials at GEM could be reached.
Petty Enterprises officials had announced Dec. 11 that they were in exclusive “transaction” negotiations with GEM, and if the transaction was completed, the famed Petty No. 43 entry would run as part of the new company.
There currently is no driver for the No. 43 as Petty and Bobby Labonte announced their parting of ways on the same day.
The No. 43 car has no sponsorship, and GEM has announced sponsorship for only four races from the Air Force for the No. 10 car. Reed Sorenson has been signed to drive that car. With the No. 43 being locked into the first five races for 2009 while the No. 10 car’s status is in limbo depending on how many teams return, it would make sense that Sorenson would drive the No. 43 or use the points of the No. 43.
GEM has two cars that are locked in for the first five events next year – Kasey Kahne with sponsorship primarily from Budweiser and the No. 19 car that has sponsorship from Stanley and Best Buy. GEM likely will replace Elliott Sadler in that car with AJ Allmendinger, according to sources.
