Petty, GEM merger talks entering final negotiations

As the 2008 calendar year neared its conclusion, Petty Enterprises and Gillett Evernham Motorsports inched ever closer to completing a merger that would mean a new home for NASCAR's iconic No. 43 car, and spell the end for a standalone Petty operation that's been a part of the sport since its founding 60 years ago.

Petty Enterprises is expected to lay off the majority of the 39 employees remaining at its shop in Mooresville, N.C.

Although neither GEM nor Petty officials said an announcement was forthcoming, sources indicated that the organizations were ironing out final details. The merger would entail GEM absorbing Petty's No. 43 car, which according to sources would be driven by Reed Sorenson and sponsored by the Air Force next season.

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Bobby Labonte drove the car for the past three seasons at Petty Enterprises, but the team lost its primary sponsorship to Richard Childress Racing, and Labonte cut ties with the organization earlier this month.

Chris McKee, marketing director of the Richard Petty Driving Experience, confirmed that David Zucker, current chief operating officer of Petty Enterprises and the Richard Petty Driving Experience, will oversee only the driving experience once the merger is complete. Zucker was installed as Petty's CEO after team owner Richard Petty earlier this year sold majority interest in his organization to the private equity firm Boston Ventures in a bid to raise capital and improve performance. McKee added that further details of the merger will come next week.

Though team owner George Gillett reportedly plans to preserve the Petty name in the new organization, the merger will close a chapter in NASCAR's 60-year history.

Richard's father, Lee, founded Petty Enterprises in 1949, and the organization went on to become the most successful in NASCAR history, winning 10 championships and 268 races on the sport's premier circuit. Yet the team has fallen on hard times in recent years, without a race victory since John Andretti prevailed at Martinsville in 1999.

In an attempt to raise its competitive profile, the Petty team moved from its longtime headquarters of Level Cross, N.C., to metro Charlotte earlier this year. Still the struggles continued, and sponsor losses were exacerbated by the ongoing economic recession.

Dozens of Petty employees have been laid off since the season finale Nov. 18. Many of those remaining could see the merger with GEM coming, trading e-mails wishing one another well, and hoping the No. 43 car returns to its old form in its new home next year.

The merger would place four cars under the GEM stable -- the No. 43, as well as the Nos. 9, 10, and 19 currently in the Gillett Evernham fleet. Kasey Kahne drives the No. 9, with A.J. Allmendinger replacing Elliott Sadler in the No. 19 for next season.

Sorenson originally signed with GEM to drive the No. 10 Dodge vacated by Patrick Carpentier, but the merger with Petty will bring to the equation a car (the No. 43) that, unlike the No. 10, finished the 2008 season in the top 35 in owner points. Under that scenario, all three GEM cars would be in the top 35 and thereby guaranteed starting spots in the first five races of 2009.

Petty's No. 45 Dodge, driven primarily by Kyle Petty, Terry Labonte and Chad McCumbee in 2008, reportedly will not figure in the plans of the merged organization.

Sporting News Wire Service contributed to this report.

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