Petty / GEM deal is completed.

Yesterday folks were calling SIRIUS saying the doors to PE were locked.
Today Lee Spencer reports the deal is finished...
http://msn.foxsports.com/nascar/story/9007774/Sources:-Petty-to-clo...

Boston Ventures stripped PE of any valuable assets... Richards airplane, motorhome, haulers to name a few. Becareful what you ask for when looking for an "investor".

God bless the Petty family. Thanks for the memories.

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Permalink Reply by TobaccoRoad on December 31, 2008 at 8:42am

"God bless the Petty family. Thanks for the memories." I could not say it better. I know over time things are going to evolve, but this is a sad day for NASCAR fans. Not that NASCAR the organization gives a shit. Who would have guessed that RGM has so far survived when PE, the Woods Brothers, Bill Davis Racing, and Hall of Fame Racing pretty much no longer exist.

If RGM can weather this storm they can come out of this pretty good in a few years when the economy gets better and none of the bigger teams can grow anymore because they are at the max of four teams.

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Permalink Reply by john mcglasson on December 31, 2008 at 11:32am

Kyle's been riding his Dad's name long enough, PE has never been a threat, it's all nostalgia, not racing. PE never came close to being a threat, even for a win. I respect Richard, but this should've happened long ago, if it had it wouldn't seem so sad and desperate today. It'll be good not to have Kyle out on the track, he's the best driver commentator there is IMO, but it's nice to clear the field of name-riders, now if Waltwurp would hang it up...

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Permalink Reply by Beagle7 on December 31, 2008 at 11:40am

This merger really is odd. They just released Elliot Sadler from the 19 and replaced him with Dinger. Thus the #10 is still open. Now they merge and take on the #43 of Petty and put Reed in it...still leaving the #10 open.
They don't have a sponsor for either the #43 or the #10...so chances are they will still just be running 3 cars to start the season (9, 19, 43). Why bother? The #10 will be locked in due to the 01 and 15 disappearing...so I don't get it. There's really not much there at Petty to go through all this trouble except for the Petty name...but if that held any weight anymore in today's cutthroat business world of Nascar the Petty's wouldn't need to merge.

The Petty cars obviously stink compared to that of GEM, and GEM is the engine supplier to them anyways...

If they are going to field 4 cars, then yes, smart move, but to come up with one, let alone TWO full time sponsors in these economic times is a TALL ORDER.