RPM hopes to get funding from Chrysler
0 Comments Quote selected text Published July 3rd, 2009 in NASCAR News
Chrysler is working on a deal to pay off some of its debt to Richard Petty Motorsports, co-owner Richard Petty said on Friday at Daytona International Speedway.
Petty said last month that Chrysler’s bankruptcy put cash flow from the manufacturer to the organization on hold. The subsequent layoff of nine RPM employees also was blamed on anticipated cuts from the bankruptcy.
“They’ve stopped everything,” he said of Chrysler’s support.
Petty said on Friday that RPM should expect some money soon.
“Yeah, we’ll get some money from them,” he said. “Right now we’re in the process of figuring out exactly what they can do to get back to us to see what we can do.”
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