DAVIDSON, N.C. - As 2008 comes to an end, so will the Petty Enterprises that NASCAR fans and racers came to admire.
http://msn.foxsports.com/nascar/story/9007774/Sources:-Petty-to-close-shop,-merge-with-Gillett
A deal was inked between Petty Enterprises and team owner George Gillett on Christmas Eve, but the terms of that agreement have yet to be divulged. A formal announcement is expected early next week.
The venerable No. 43 Dodge covered with the trademarked Petty blue glaze will become part of the Gillett stable with Reed Sorenson expected to be behind the wheel. Bobby Labonte, who finished 21st in the point standings, parted ways with the Pettys on Dec. 11 following a three-year stint in the No. 43 car.
Most of the remaining 39 employees at Petty Enterprises will conclude their duties at the Mooresville-based shop on Wednesday. The company moved from its original shop adjacent to the Petty homestead in Level Cross, N.C., in January to what was formerly the Yates Racing complex.
Robbie Loomis, Petty Executive VP of Racing Operations, is expected to assume a managerial role under the new partnership, which will likely be rebranded under the Petty banner. Former car chief Ray Fox Jr. will assume a similar role at JTG-Daugherty Racing with the No. 47 team.
David Zucker, who was named CEO of the team when private equity firm Boston Ventures purchased controlling interest in June, is expected to be reassigned to the Petty Driving Experience.