This is an update to:
Petty Without Sponsor - Bobby Labonte Without Ride
When Boston Ventures bought controlling interest in Petty Enterprises six months ago, Bobby Labonte figured his new team owners had the connections and the financial wherewithal to survive an economic downturn. He turned out to be incorrect, and as a result the former NASCAR champion split with the organization last week.
Labonte, who signed a four-year extension with the Petty team in June and was prepared to move into management once his driving days were over, is now searching for another ride as Boston Ventures negotiates a merger with Gillett Evernham Motorsports. Labonte’s old team has been crippled by sponsorship losses, and an inability to find new corporate backing has Petty Enterprises near the end of its 60-year run in NASCAR’s top division.
“I thought back in March, April, well, if the economy turns sour, [Boston Ventures] has all these connections and hopefully we can get a sponsor, keep a sponsor,” Labonte said Tuesday. “But it seemed like a perfect storm. They had great intentions and meant well. But obviously, they don’t have 20 years of racing knowledge either, and that probably hurt them some, because I think there were some surprises that anybody would [face] getting into it. They’re not experienced in racing, even though they’re great probably in business. But they weren’t experienced in racing. They don’t think they did anything per se wrong, it just happened that their connections weren’t really willing and able to do what they thought they could do. They didn’t have that plan maybe in effect because they didn’t think it was a problem.”
“It sounded great, and I signed a contract for a lengthy period of time, and it was going forward from there,” Labonte said. “Unfortunately, (Boston Ventures’) crystal ball got kind of cloudy, too. They weren’t able to do the things that they had wanted to do, and trust me, I know they feel bad about that.
“It was going to be tough for them to go on like they had planned on, and the scenarios that were set out in front of me and the contract that I had, there was a lot of implications, a lot of stuff happening that it was probably best to agree to shake hands and part ways.”
Labonte said he’s had some discussions about the No. 41 at newly formed Earnhardt Ganassi Racing - the only available seat with full sponsorship.
“There are a lot of things that have to develop to make it happen,” Labonte said in his first comments since leaving Petty Enterprises on Dec. 11.
“Talks are happening, but that’s not happened yet,” Labonte said. “I feel like they’ve got a great program, it’s just a matter of they have to put their deal together before I come into the picture.”
Aside from Earnhardt-Ganassi, which hasn’t announced a manufacturer yet for 2009, there are hardly any open rides in Cup for next season. Many teams that raced last season might not answer the bell in ‘09 because of a lack of sponsorship triggered by the economic downturn.
“I’m optimistic something will shake out,” he said. “I know I’m ready and capable and can bring value to a team.
“I’m not sitting here telling you if I don’t get a ride, that’s fine. I’m not sleeping well at night because I don’t have one.”
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