Petty says RPM-Yates deal more of a buyout than merger
4 Comments Quote selected text Published September 15th, 2009 in NASCAR News
The deal that brought together Richard Petty Motorsports and Yates Racing for next season is more of a buyout than a merger, minority owner Richard Petty said on Friday. “We’re basically taking over their deal,” the seven-time Sprint Cup champion said before qualifying at Richmond International Raceway. “As far as I know all of that whole operation will be Richard Petty Motorsports.”
Petty said George Gillett Jr., who declined to comment earlier Friday, would remain the controlling owner. He said Robbie Loomis, the executive director of race operations at RPM, will continue to run day to day operations. He was unsure what role Max Jones, who co-owned Yates Racing with Doug Yates, would take but speculated that he would stay on as the general manager. Jones declined to comment.
Sources close to the situation said Yates would continue to run the Roush-Yates engine program that will supply engines to RPM’s four teams — Paul Menard from Yates and Kasey Kahne, Elliott Sadler and A.J. Allmendinger from RPM. Petty said plans are to move from RPM’s Statesville, N.C., shop to Yates’ facility in Concord, N.C., to be closer to Roush Fenway Racing, which will continue to supply parts, pieces and technical support as it did with Yates. Because engines will come from Roush-Yates, RPM will have to shut down its engine department that employed more than 40 people. Petty said the potential of letting more people go during tough economic times was the tough part of the deal.
Wow the king is well the king but sad to say hes making stupid moves now, why would anyone buyout yates racing?? they are no better than start and park teams, they suck, ford is no better than dodge, having petty has ruined this team, hes the king and all, but hes too old for this stuff. evernham has to be laughing somewhere.
are you serious??? Petty teams have been running good this year with no support of Dodge since it went under. Ford has yet to gone under and now having somebody full time working on the Rousch Yates engine program will only make that stronger for both Ford teams. And I admit his drivers are not the greatest, i do think moving to a manufacture that has support might catch the eye of free agent drivers in the future. And Evernham has nothing to gloat about, he married a talentless Erin Crocker who isnt a head turner at all
its george gillet doin this. the king is jus talkin to the media for him is all. i dont think the king would do that if it was up to him.
Wouldn’t it be nice if we got some straight information from someone on this type of news ? I really get tired of he said she said and then everything changes in another week. How about getting a story correct the first time?
Steve