CUP: GEM, Petty Deal Agreed To

Sprint Cup

CUP: GEM, Petty Deal Agreed To

Gillett Evernham Motorsports and Richard Petty will join forces as agreed to in principle late Thursday...

Tom Jensen | Posted January 08, 2009 Harrisburg, NC

NASCAR racing legend Richard "The King" Petty. (Photo by Streeter Lecka/Getty Images for NASCAR)

Seven-time NASCAR Cup Champion Richard Petty said he is excited about the new partnership. (Photo: Marc Serota, Getty Images)

The long-awaited deal that will allow Gillett Evernham Motorsports and Richard Petty to join forces was agreed to in principle late Thursday with the deal expected to close by the end of January and details to be announced then.

The new team — which will be jointly owned by Richard Petty, Petty Holdings, owned by majority shareholder Boston Ventures, and Gillett Evernham Motorsports — will field three Dodge Chargers full time in the Sprint Cup Series this year. A fourth team car will run a minimum of eight races, with more to be added if sponsorship is found.

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Kasey Kahne will drive the team’s No. 9 Dodge. GEM has signed Reed Sorenson, who is expected to drive the No. 43, and AJ Allmendinger is the front-runner to drive the No. 19, replacing the released Elliott Sadler. But beyond Kahne in the No. 9, no driver-car-crew-chief-sponsor lineups have been publicly confirmed.

Richard Petty, the seven-time NASCAR Sprint Cup Champion, said he is excited about the new partnership.

“I want to get back to winning and together we will bring the resources, technology and infrastructure to do that,” said Petty. “This was a big decision for us but it’s something we really wanted to do. We hope everyone in the sport embraces what (GEM Co-owner) George (Gillett) and I are doing. Nothing is going to change for me. I’m going to be at the track every weekend and really involved with the teams and drivers back at the shop. We are very happy. George and I have a lot of work to do, but we have a plan and we’ll be ready for Daytona.”

Petty Enterprises, which competed in the first NASCAR Strictly Stock — the predecessor to the Sprint Cup Series — race in 1949, closed its doors last week after being unable to secure a sponsor for either the No. 43 or No. 45 for 2009. The team, which was founded by family patriarch Lee Petty, in a garage with a dirt floor more than 60 years ago, has more Sprint Cup champions (10) and race victories (268) than any other team in NASCAR history.

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