Richard Petty’s NASCAR team lost its competitive edge years ago. But Petty himself is still among stock car racing’s most popular figures and nearly synonymous with the sport—a popularity not lost on businessman George Gillett.
Gillett, in announcing today that his Gillett Evernham Motorsports team agreed in principle to merge with Petty Holdings, said he would fulfill what many NASCAR observers had demanded in recent weeks: That no matter what happened to Petty’s team, the sport needed to keep Petty himself—known simply as “The King” in NASCAR—front and center with fans.
“We plan to keep the Petty name in the forefront of NASCAR,” said Gillett, who also has ownership stakes in the NHL’s Montreal Canadiens and the Liverpool soccer team in the English Premier League. “Our goal is to get the cowboy hat and sunglasses back in victory lane.”
“I want to get back to winning and together we will bring the resources, technology and infrastructure to do that,” said Petty, a seven-time Cup champion as a driver. “This was a big decision for us, but it’s something we really wanted to do. Nothing is going to change for me. I’m going to be at the track every weekend and really involved with the teams and drivers back at the shop.”
The team will field four Dodge entries in the 2009 Cup season: Nos. 9, 10, 19 and 43.
“This is pretty exciting stuff,” said Kasey Kahne, driver of GEM’s flagship No. 9. “I’ve gotten to know Richard over my five years working with Dodge and I look forward to being around him more.
“This is pretty awesome. The Gilletts have done a fantastic job of putting this together. I think you can see their commitment to winning. We could have kept on the same path, but they made a pretty bold statement that they are here to win.”
Details of the transaction are expected once the deal is closed. Petty and GEM officials anticipate a final agreement by the end of January.
No driver lineup was announced. Multiple sources said plans are for the famous No. 43 that Petty drove to his titles will be driven by Reed Sorenson. Kasey Kahne will remain in the No. 9 and A.J. Allmendinger reportedly will replace Elliott Sadler in the No. 19.
Sadler attorney said earlier in the week there are plans to file a lawsuit to keep Sadler in the 19. Sources said to avoid the suit the organization may leave Sadler in the 19 and put Allmendinger in the 10.
Gillett said it is a privilege to help write a new chapter in the Petty family history.
“To join with Richard Petty and Petty Holdings is such an honor for me and my family,” said Gillett. “Richard and I have gotten to know each other well over the last few years and both of us believe we have formed something that NASCAR fans will support.
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