Marcos Ambrose will compete for Richard Petty Motorsports next year. (Photo: LAT Photographic)

The company will have a board of directors that will include Bergeron, Murstein and Petty and they will hire a CEO to run the business. Murstein said the board will include six or seven people, with Petty likely being able to appoint another board member and Murstein appointing two or three more.

“Richard is the chairman of the business – he certainly is the front man,” Bergeron said. “We’re going to instill some proper business discipline here as well, both in terms of managing costs, growing the business and securing the best and most lucrative sponsorships.

“It is my hope that within a year or two, we can get back to four cars.”

Murstein had looked into purchasing a NASCAR team for several years and had been courted by Petty in 2008 before its purchase by Boston Ventures in 2008, which was then followed by a merger with Gillett Evernham after the season.

“We could not be happier to be able to acquire these assets together,” Murstein said in the news release. “Richard is one of the greatest names, not only in NASCAR, but in all sports. His name and image are a world recognized brand with unlimited potential to grow and expand in racing.

“Ample working capital has been invested in the company to insure this great team and legend will not only continue to perform, but will thrive and be back in the winner’s circle.”

DGB Investments is an investment vehicle of Bergeron, who bought VeriFone Systems from Hewlett-Packard in a transaction valued at $50 million in 2001. The company is now worth more than $3 billion.

“With Richard Petty’s unmatched name and reputation in the motorsports industry, I know this investment is well-timed to succeed,” Bergeron said. “We are going to help put Richard Petty Motorsports back in victory lane.”

RPM finished the season with all four teams and had a strong performance in the season finale with Aric Almirola finishing fourth and Allmendinger fifth at Homestead-Miami Speedway. Allmendinger will return to the team’s No. 43 car next season and team with Ambrose, who will drive the No. 9.

Elliott Sadler, who drove the team's No. 19 car, was released following the season and will drive for Kevin Harvick Inc. in the Nationwide and Truck series next year. Kasey Kahne, who drove the No. 9 car for seven years for the organization, left in October to join Red Bull Racing, where he will race in 2011 before moving to Hendrick Motorsports in 2012.

Elliott Sadler won't return to Richard Petty Motorsports in 2011. (Photo: LAT Photographic)

Paul Menard, who joined RPM after its merger with Yates Racing for 2010, will drive for Richard Childress Racing next year. Sadler’s No. 19 and Menard’s No. 98 were dissolved after the 2010 season.

Robbie Loomis will retain his role as vice president of race operations while Sammy Johns will continue to be the team’s director of operations. Mike Shiplett, who was Allmendinger’s crew chief, will remain in that role and Todd Parrott, crew chief for Sadler last year, will be the crew chief for Ambrose.

The purchase ends a long and somewhat chaotic venture into motorsports for Gillett, who bought majority interest into Evernham Motorsports midway through the 2007 season.

At the start of the 2008 season, Gillett agreed to buy Robby Gordon Motorsports for $23.5 million that included an additional four-year, $12 million base salary for Gordon as the driver but the deal fell through. Following the 2008 season, the team merged with Petty Enterprises to form Richard Petty Motorsports. Then without a manufacturer heading into 2010, it merged with Yates Racing to assume that team’s relationship with Ford.

Ray Evernham and Boston Ventures, which each owned a minority interest in RPM, are not part of the current deal.

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