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Old 01-01-2009, 02:06 PM   #1
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Default End of a Nascar Era

Petty Enterprises will merge with Gillett Evernham Motorsports, Foxsports.com reported on Wednesday.

The deal was struck on Christmas Eve between George Gillett and Petty Enterprises. A formal announcement is expected next week.

The move, ending a 60-year run for Petty Enterprises, doesn’t come as a surprise considering the tough economic situation many NASCAR teams are facing. Petty Enterprises had already lost longtime sponsor General Mills, had recently parted ways with Bobby Labonte and had no driver signed to wheel the legendary No. 43 in 2009.

Reed Sorenson is expected to take over duties behind the wheel of the No. 43, according to the report.

It’s expected the new team will still use the Petty name, which makes sense. Despite the fact that Petty Enterprises hasn’t been to victory lane since 1999, the name still carries brand power.

In June, private equity firm Boston Ventures purchased majority ownership of Petty Enterprises. At the time, newly installed CEO David Zucker said he understood turning around the fortunes of the struggling organization would take time, but made assurances that Boston Ventures had the “patience and capital to capitalize the company appropriately to make sure we can go forward for the long run.”

Less than seven months later, it appears that run is over.

Zucker will reportedly stay on to run the Petty Driving Experience arm of the organization.

Robbie Loomis, vice president of operations for Petty Enterprises, will continue in a managerial role.

This is very sad. I grew up in the 80s and watching Richard Petty and the lure around him for so long then seeing the trouble his company has had is very sad. Hopefully the new company allows him so sort of role where he will still be active.
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Old 01-06-2009, 03:27 PM   #2
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Default Re: End of a Nascar Era

Sign 'o the times. I expect NASCAR will continue to be hit pretty hard by the recession.
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Old 01-07-2009, 12:24 AM   #3
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Default Re: End of a Nascar Era

Ray Evernham quitting nascar

NASCAR team owner Ray Evernham announced Thursday night in Lincolnton that he is in advanced negotiations to purchase the East Lincoln Speedway and plans to retire from NASCAR.

Evernham said he has already sold off most of his interest in the Gillett-Evernham Motorsports race team and is ending his career with NASCAR.

“I want to get back into grassroots racing,” he told the gathering of area community leaders and businesspeople.


A native of New Jersey, the veteran motorsports competitor said he’s been alarmed by what’s happened to small tracks in his home state and elsewhere.

“Racetracks across America are disappearing quick-ly,” he said, describing calls from old friends in New Jersey who said the state was down to only two remaining tracks.

Only about 14 short tracks remain in North Carolina, with only a few hundred nationwide out of what was once a much larger number.

Evernham said he and partner Mack are “going to have a little fun.”


http://www.topix.com/nascar/dale-ear...ncoln-speedway
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I can't blame Ray for wanting to have some fun.


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Old 01-07-2009, 07:53 AM   #4
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Default Re: End of a Nascar Era

Isn't he getting enough fun riding Erin Crocker?
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Old 01-07-2009, 09:38 AM   #5
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Default Re: End of a Nascar Era

He's giving it all up for her?

Erin better watch her back, the local short tracks are where all the farm-fresh girls hang out, or so I hear.
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Old 01-07-2009, 09:45 AM   #6
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Default Re: End of a Nascar Era

Wholesome girls who drink milk, wear little make-up and love Jesus.
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Old 01-07-2009, 10:29 AM   #7
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Default Re: End of a Nascar Era

Daytona is only a month away.

Bring back The Rock.
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