NASCAR without a team fielded by Richard Petty. Kinda like a Senator with 143 days on the job winning the Presidency--you don't want to believe it's possible, but it is going to happen.
Petty, GEM merger talks entering final negotiations
Source confirms details to be announced next week
By Raygan Swan and David Caraviello
January 1, 2009
12:36 AM EST
As the 2008 calendar year neared its conclusion, Petty Enterprises and Gillett Evernham Motorsports inched ever closer to completing a merger that would mean a new home for NASCAR's iconic No. 43 car, and spell the end for a standalone Petty operation that's been a part of the sport since its founding 60 years ago.
Petty Enterprises is expected to lay off the majority of the 39 employees remaining at its shop in Mooresville, N.C.
Although neither GEM nor Petty officials said an announcement was forthcoming, sources indicated that the organizations were ironing out final details. The merger would entail GEM absorbing Petty's No. 43 car, which according to sources would be driven by Reed Sorenson and sponsored by the Air Force next season.
Bobby Labonte drove the car for the past three seasons at Petty Enterprises, but the team lost its primary sponsorship to Richard Childress Racing, and Labonte cut ties with the organization earlier this month.
Chris McKee, marketing director of the Richard Petty Driving Experience, confirmed that David Zucker, current chief operating officer of Petty Enterprises and the Richard Petty Driving Experience, will oversee only the driving experience once the merger is complete. Zucker was installed as Petty's CEO after team owner Richard Petty earlier this year sold majority interest in his organization to the private equity firm Boston Ventures in a bid to raise capital and improve performance. McKee added that further details of the merger will come next week.
The rest of the article is at:
http://www.nascar.com/2008/news/headlines/cup/12/31/petty.gem.merger/index.htmlBobby Labonte actually did alright for Petty Enterprises this past year. Sure, he didn't win any races, but he was pretty competitive thoughout (ever since Kyle Petty convinced King Richard that they needed to buy engines from Evernham's team, instead of trying to build them on their own).
It's a sad day for NASCAR buffs.
