The King talks about potential deal with GEM
Quote selected text Published September 23rd, 2007 in NASCAR News
Petty Enterprises is not merging with Gillett Evernham Motorsports. But the Petty family and the Gillett family are exploring the possibility of a partnership. Richard Petty said Friday that his family’s company needs a partner to remain competitive and he is further along in talks with George Gillett than any other potential partner in the past.
“We’re probably halfway there,” said Petty, who owns Petty Enterprises. “We’re doing a lot of talking, I’ll put it that way. We have not signed any papers.” When asked if a deal could be done by the start of next season, Petty said “that’s a good question” and “we’re way on down the road, but we don’t know how far down the road we are. Petty said he envisions that if he and Gillett partner at Petty Enterprises, the team would then purchase chassis, and bodies from GEM as well as to continue to buy engines from the team. The two teams, though, would remain as separate companies.
There are plenty of sticking points, including how many teams would be in the Petty fold. Gillett could not have an ownership stake in three cars at GEM (#9 with Kasey Kahne, #19 with Elliott Sadler, #10 with Scott Riggs) and then two cars in Petty (#43 with Bobby Labonte, #45 with Kyle Petty) - he would be over the four-team limit. “We at Petty Enterprises are not looking to do away with any of our cars,” Petty said.
“So he’s caught in some situations and we’re caught in some situations. … You never look at going backwards. Even with getting all the engineering and everything from other people, you need something to bounce your people off of, so that’s the reason that I would think you would have to have … two cars.” When asked if he was forced to choose between his car numbers, Petty said the 43 would always be with his team but “we haven’t gotten that far along” in the discussions. For Petty, the deal is difficult and he called emotional issues about selling his team “half the battle right now.” “The deal with us is that we’re the Petty name,” said Petty, whose team started when NASCAR started in 1949. “We do Petty Enterprises. We’ve got the Richard Petty Driving Experience. We’ve got Victory Junction Gang Camp. That’s all encompassed, that’s all basically one deal. For now, GEM and Petty will still share information as they have for much of this season.
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What about Petty’s aversion to any alcohol sponsors? Now that Bud
is going with Kahne….
That’s a good question…I’m not so sure I like the whole idea. I am concerned that the corp. bigwigs will destroy everything that Petty Enterprises has built. Isn’t there another way to make it work? The corp. world is taking over this sport and the ones who made it back when…just don’t have a shot anymore. I am worried…it just seems to be getting worse.
Wake up Richard!!! You stay say colored boys and colored people. This isn’t 1965 Alabama! Get with the program. And I’ve got a news flash for the King. Richard Nixon resigned.