(By Greg Engle CupScene.com Editor,NASCAR Examiner)
Posted: Tuesday,November 30th, 2010
Richard Petty has partnered with an investment group and purchased the share of Richard Petty Motorsports.
According to Petty, Richard Petty Motorsports signed and closed a sale of its racing assets to an investment group comprised of Richard Petty, Medallion Financial Corp. and DGB Investments.
The team had once been a remnant of Evernham Motorsports after a merger last year. Evernham had been purchased by financier George Gillett. Gillett assumed primary ownership of RPM after the merger.
That ownership ended Friday.
Richard Petty (Getty Images)
“Today is a great day for me, my family, our fans and our wonderful sponsors. Ford, Stanley Tools, Best Buy, Valvoline, Reynolds, Air Force, Super 8, Paralyzed Veterans of America (PVA), WIX Filters and Menards have supported me through thick and thin and I thank them from the bottom of my heart,” said Petty.
Petty will serve as Chairman and will be actively involved in overseeing day-to-day operations of the company. As previously announced, the team will operate the legendary No. 43 car driven by AJ Allmendinger and the No. 9 car driven by Marcos Ambrose.MORE>>>
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