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NASCAR Sprint-Cup Series
SPENCER: Thank You, George Gillett
I’m encouraged by the Gillett Evernham Motorsports/Petty Enterprises merger and applaud George Gillett for reaching out to Petty and throwing him a lifeline...
Jimmy Spencer  |  Posted January 22, 2009   Charlotte, NC
Jimmy Spencer calls it like he sees it on SPEED. (Photo: SPEED)
Jimmy Spencer co-hosts NASCAR RaceDay and NASCAR Victory Lane. (Image: SPEED)

My hat is off to George Gillett and Gillett Evernham Motorsports for appreciating the legacy of the Petty name and keeping The King on his throne.

I’m truly encouraged by the Gillett Evernham Motorsports/Petty Enterprises merger and applaud Gillett for reaching out to Petty and throwing him a lifeline. GEM didn’t really need Petty Enterprises to survive this tough economic climate but without Gillett’s intervention, Petty Enterprises wouldn’t have survived. The doors would have been boarded up and the Petty name, after 60 years, would have ceased to exist in NASCAR.

With this merger, Gillett saved the most famous name in NASCAR from becoming obsolete, a thing of the past. The Petty name, the most-branded in NASCAR, is an awesome marketing tool, much like the Dallas Cowboys of the NFL. While the Cowboys haven’t been overly competitive the past decade, they still have legions of fans and boast high merchandise sales. By the same token, NASCAR fans pull for Petty Enterprises to succeed even when it doesn’t appear they will.

You can’t say a bad word about Richard Petty. I’ve heard stories about him going out with Paul Sawyer at Richmond to sign autographs until 2 o’clock in the morning after the races. Petty popularized the phenomenon of autographs in NASCAR and you could write books of material on what he has done for the fans and the sport. The King has opened doors for so many drivers, me included, and the younger drivers of today, many of whom may not even understand the impact he has had on their careers. So, I am eternally grateful Gillett hasn’t allowed fate and the economy to write the last chapter of Petty’s story.

From a business standpoint, Gillett made an intelligent and calculated move because there is inherent value in the Petty name. Richard Petty, even at 71, remains a viable resource for attracting sponsorships and marketing the team and he is being utilized more and more. In fact, he was at Barrett-Jackson just the other day. Furthermore, there have been inconsistency and performance issues at Gillett Evernham Motorsports and they’re trying to right that ship. Hopefully these changes will be a step in the right direction. I think the two groups will work well together partly for the fact this is not their first rodeo together, as GEM already had been providing engines to Petty Enterprises.


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