Petty & GEM to merge???

[mccastle]

Petty-GEM merger? hearing there could be an announcement as soon as today that Gillett Evernham Motorsports [#9,10,#19] and Petty Enterprises [#43,#45] has merged.(12-4-2008)
UPDATE: SI.com has learned that Petty Enterprises' top operation will not return in 2009. The organization will merge with George Gillett, giving that team its fourth car. No word on the future association with Petty Enterprises and Boston Ventures, although Boston Ventures may maintain some involvement in the Richard Petty Driving Experience. Official announcement of the news could come as early as this afternoon. No word on whether Richard Petty will have an ownership stake as part of the merger agreement.(Sports Illustrated)(12-4-2008) Comment here

 

[DexterMorgan]

This is a sad pathetic day for motorsports. A pioneer team such as Petty Enterprises is done and there is absolutly nothing whatsoever that can come from this that is positive. Im not sure what could have prevented it, but its a damn shame.

I guess the question is, what happens to Bobby Labonte, does he goto GEM or is his contract null.

 

[mccastle]

What was the point of bringing in Boston Ventures? I thought they were to provide cash and all that crap.

 

[292Day]

All nascar fans have to have a heavy heart.

Definitely a sad day. The writing has been on the wall for a while though. Do you think Boston Ventures came into the nascar seen to be a savoir or to try and turn a Quick Buck? Was it more difficult than they thought, or did the economy play the trump card? Whatever happened is none of my business, but I feel like my dog has been kicked to the curb by the guy who ran over it.

 

[DexterMorgan]

Boston Venture = Bobby Ginn?

 

[fishy]

It may be a little sad, but get off the ledge, people!
things change with time and especially in bad times.
Hell, Jr. Johnson is gone, as is Bud Moore, Junie Donleavy, Dave Marcis, Morgan-McClure and even Holman-Moody, all pioneers in one way or another. The Woods Bros. have one foot in the grave and the other on ice.
Richard Petty will be fine as will Kyle and they'll both have more time to persue their other interests.

 

[Easy Money]

Sounds like this may have been BS after all now.

 

[BobBski]

According to Jski.com y'day both teams were surprised at SI's report and that no announcements were pending and they wouldn't comment on speculation:

UPDATE 3: Petty Enterprises remains in discussions with Gillett Evernham Motorsports to merge into a four-car operation, sources told ESPN.com on Thursday. A report by SI.com that the merger would happen and that Petty Enterprises would not return in 2009, according to multiple sources, is premature. Drew Brown, the director of communications at GEM, said the status of the company has not changed and there are no impending announcements. Officials at the office of GEM majority owner George Gillett were surprised by the report. "We're just not going to comment on speculation," Brown said. Should such a merger happen it would shrink the garage by another car, the 45 driven by Kyle Petty, Chad McCumbee and Terry Labonte last season. The #43 of Bobby Labonte would combine with GEM's #9 of Kasey Kahne, #19 of Elliott Sadler and #10 of Reed Sorenson. A merger could also mean the end of NASCAR's most storied organization as it has been known since 1969. Owner and seven-time champion Richard Petty sold majority interest in Petty Enterprises earlier this year to Boston Ventures but maintained the Petty name. It is unclear if a potential merger with GEM would incorporate both parties or if the Petty Driving Experience would be included. News of the SI.com report spread rapidly through the Manhattan banquet room that hosted a Thursday awards luncheon featuring the top 12 drivers from this past season. GEM has already benefited from the merger of DEI and Ganassi, which will run under General Motors -- Ganassi was a Dodge team -- and use engines prepared by Earnhardt-Childress Racing. The #10 car that was 37th in points will move into the top 35 guaranteed a spot in the field because the two DEI cars lost in the merger have been eliminated from the top 35. The #47 car that will be driven by Marcos Ambrose for JTG-Daugherty moved from 36 to 35. "Everybody will just shift up," NASCAR spokesman Kerry Tharp said. "We will use the top 35 at the track."(ESPN)(12-4-2008)