Bobby Labonte has reached an agreement to remain in the #43 car at Petty Enterprises after this season, sources told ESPN.com on Saturday. Labonte has been widely speculated as a candidate to drive the fourth car at Richard Childress Racing, but Petty officials have remained adamant that he will spend the rest of his career with the organization and that he is determined to be the driver that puts the 43 back into Victory lane. David Hovis, a spokesman for Petty Enterprises, said the team had nothing to announce Saturday about Labonte’s future. “We still remain 100% convinced that Bobby will be with Petty Enterprises next season,” Hovis said. Sources said Labonte’s new deal will be announced as soon as details concerning a new sponsor are worked out. General Mills, Labonte’s current sponsor, will be on the fourth car at RCR next season. Robbie Loomis, the vice president for racing operations at Petty, has been the most outspoken on Labonte’s commitment to Petty Enterprises. He remained that way on Saturday. “As far as I know Bobby Labonte will be with us for a long time,” he said before the Sprint Cup race at Richmond International Raceway. “I feel confident where we’re at with Petty Enterprises and with Bobby. In due time Petty Enterprises will have a lot of announcements coming forward.” One is that a Petty has finalized a deal with New York-based Medallion Financial as a business partner. Loomis said that could come within the next month to six weeks. The other concerns Labonte’s new sponsor. General Mills, Labonte’s current sponsor, will be on the fourth car at RCR next season. Loomis said negotiations for a new sponsor are going well, noting Labonte’s “brand is clean like the Petty’s.”(ESPN.com), one rumored sponsor for the #43 team has been Caterpillar, whose deal with Bill Davis Racing and the #22 Toyota runs out at the end of 2008.(5-3-2008)
