Petty Enterprises is in discussions to merge its storied franchise with Gillett Evernham Motorsports, The Associated Press has learned.
Multiple people familiar with the talks told the AP on Thursday that the two teams were discussing a deal that would merge Petty's famed No. 43 Dodge with GEM to become a four-car operation. They requested anonymity because the negotiations are ongoing.
Petty, the team founded by seven-time series champion Richard Petty, has no full-time sponsorship lined up for next season. The team fields its flagship No. 43 for 2000 NASCAR Cup champion Bobby Labonte and a second car that Chad McCumbee and Kyle Petty shared this season. Kyle Petty was expected to have a minimal role — if any — with the organization next season.
Drew Brown, a spokesman for Gillett Evernham, said the team would not comment on any potential merger with another team. But it's no secret that majority owner George Gillett Jr. has canvassed the industry looking for a partner that would help his team expand from three cars to the NASCAR maximum four cars.
Gillett is believed to have had earlier discussions with Toyota teams Bill Davis Racing and Michael Waltrip Racing, as well as Ganassi. Earlier this year he terminated an agreement with Robby Gordon that would have brought Gordon into his organization as a fourth car.
As potential deals failed to develop, Gillett turned his attention to struggling Petty Enterprises. Richard Petty in June sold majority interest of the family-run team to private equity firm Boston Ventures, which assumed day-to-day control of the 60-year-old operation.
But the new leadership has yet to put Petty Enterprises on solid footing, largely because the economic crisis has made sponsorship very difficult to secure. Numerous teams have reduced their staffs since the Nov. 18 season finale, and Petty laid off 30 employees last month.
Now, if a merger with Gillett goes through, a team that has been in NASCAR since 1949 may cease to exist as it has been known.
Source: Associated Press
