George Gillett’s NASCAR Sprint Cup Richard Petty Motorsports may not be turning rpms after Talladega.
Although the team is, apparently, ready for the superspeedway race; the future of the team, which bears the name of seven- time cup Champion Richard Petty is clouded due to financial issues.
Team vice president and head of competition, Robbie Loomis, spoke to the media in Martinsville last weekend. When asked if the team would be able to finish the season Loomis said “I think it’s our full intention to go forward.”
Reading the language carefully that is not a definitive statement that the team would finish the year.
Gillett’s problems are connected to the forced sale of his, co-owned, Liverpool FC in the UK’s Premier League. John Henry’s New England Sport Ventures purchased the club, but most of the sale price went to pay outstanding bank loans leaving Gillett in a financial bind. Henry’s company is also a co-owner of Roush Fenway Racing
Ray Evernham founded what is now RPM in 2000. George Gillett became majority owner in August 2007 and renamed the company Gillett Evernham Motorsports.
A partnership developed between the organization and Richard Petty toward the end of the 2008 season and beginning in 2009 the organization was re-branded Richard Petty Motorsports with the King serving as a team spokesman, but it is likely that, he has no equity in the team.
RPM currently fields four cars in the Sprint Cup Series and was reportedly shrinking to a two-car team for next year. Last week they released driver, Kasey Kahne who raced for Team Red Bull on Sunday.
AJ Allmendinger is supposed to have a sponsored ride for next year if Best Buy returns, but now Marcos Ambrose’s situation is not certain.
There is also a rumor that Richard Petty has solicited a group of investors to buy back all or part of his team that he sold to George Gillett.
“You all know me and you’ve talked me all these years. You know when I’ve got something to tell you, I’ll tell you, and until then, I’m telling you nothing,” Petty said at Martinsville. “I’ve been here since ’49, I ain’t going nowhere.”
Although the team is, apparently, ready for the superspeedway race; the future of the team, which bears the name of seven- time cup Champion Richard Petty is clouded due to financial issues.
Team vice president and head of competition, Robbie Loomis, spoke to the media in Martinsville last weekend. When asked if the team would be able to finish the season Loomis said “I think it’s our full intention to go forward.”
Reading the language carefully that is not a definitive statement that the team would finish the year.
Gillett’s problems are connected to the forced sale of his, co-owned, Liverpool FC in the UK’s Premier League. John Henry’s New England Sport Ventures purchased the club, but most of the sale price went to pay outstanding bank loans leaving Gillett in a financial bind. Henry’s company is also a co-owner of Roush Fenway Racing
Ray Evernham founded what is now RPM in 2000. George Gillett became majority owner in August 2007 and renamed the company Gillett Evernham Motorsports.
A partnership developed between the organization and Richard Petty toward the end of the 2008 season and beginning in 2009 the organization was re-branded Richard Petty Motorsports with the King serving as a team spokesman, but it is likely that, he has no equity in the team.
RPM currently fields four cars in the Sprint Cup Series and was reportedly shrinking to a two-car team for next year. Last week they released driver, Kasey Kahne who raced for Team Red Bull on Sunday.
AJ Allmendinger is supposed to have a sponsored ride for next year if Best Buy returns, but now Marcos Ambrose’s situation is not certain.
There is also a rumor that Richard Petty has solicited a group of investors to buy back all or part of his team that he sold to George Gillett.
“You all know me and you’ve talked me all these years. You know when I’ve got something to tell you, I’ll tell you, and until then, I’m telling you nothing,” Petty said at Martinsville. “I’ve been here since ’49, I ain’t going nowhere.”