Petty-GEM merger done deal? UPDATE: Multiple sources have confirmed that Petty Enterprises racing will shut its doors and merge with the team currently known as Gillett Evernham Motorsports. A deal was inked between Petty Enterprises and team owner George Gillett on Christmas Eve, but the terms of that agreement have yet to be divulged. The venerable #43 Dodge covered with the trademarked Petty blue glaze will become part of the Gillett stable with Reed Sorenson expected to be behind the wheel. A formal announcement is expected early next week. Most of the remaining 39 employees at Petty Enterprises will conclude their duties at the Mooresville-based shop on Wednesday. The company moved from its original shop adjacent to the Petty homestead in Level Cross, N.C., in January to what was formerly the Yates Racing complex. Robbie Loomis, Petty Executive VP of Racing Operations, is expected to assume a managerial role under the new partnership, which will likely be rebranded under the Petty banner. Former car chief Ray Fox Jr. will assume a similar role at JTG-Daugherty Racing with the #47 team. David Zucker, who was named CEO of the team when private equity firm Boston Ventures purchased controlling interest in June, is expected to be reassigned to the Petty Driving Experience.(FoxSports), no word on what happend to the #10 ride which Sorenson was supposed to drive.(12-31-2008)
UPDATE: 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 #43 car, which according to sources would be driven by Reed Sorenson and sponsored by the Air Force next season. 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. Indications are that the name of the merged organization will be altered to reflect Richard Petty's involvement. Richard's father, Lee, founded Petty Enterprises in 1949. The merger would place four cars under the GEM stable -- the #43, as well as the Nos. 9, 10, and 19 currently in the Gillett-Evernham fleet. Kasey Kahne drives the #9, with A.J. Allmendinger replacing Elliott Sadler in the #19 for next season. No driver has been announced for the #10 car for 2009.(NASCAR.com)(12-31-2008) Comment here
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