Bobby Labonte and Petty Enterprises have reached a mutual agreement to separate, the team confirmed on Thursday. The 2000 Sprint Cup champion signed a four-year extension with partial ownership to remain in the famed #43 car that Richard Petty drove to seven titles earlier this season when Boston Ventures purchased majority interest in NASCAR’s most storied organization. But with the car unsponsored — General Mills is moving to [#33 Clint Bowyer] Richard Childress Racing in 2009 — and the future of the organization in doubt he has opted to seek employment elsewhere. A possible scenario for Labonte could be the new Earnhardt-Ganassi team that has an open spot in the #41 Target car. Sources said the organization has had informal discussions with Labonte and would be interested if he were available, although his car number may not be the #41. Labonte, in a prepared statement, said only that he did not have a contract for 2009 and that he was ready to explore all options. The Pettys have been in negotiations with Gillett Evernham regarding a possible merger into a four-car team. Under that scenario, the #43 would become the fourth car with the #9 [Kasey Kahne], #19 [Elliott Sadler] and #10 [Reed Sorenson] of GEM. “We can confirm Gillett Evernham Motorsports is in exclusive negotiations with Petty Holdings,” Tom Reddin, CEO of Gillett Evernham Motorsports, said “GEM has a very solid foundation and this is an exciting opportunity to build on that foundation with one of the greatest names in the history of motorsports. We will work diligently over the next several weeks and make further comment at the appropriate time.” Petty officials were not immediately available for comment, but it obvious they are in a state of flux. Approximately 65 employees have been released since the season ended. Thirty-nine were let go on Monday.(ESPN)(12-11-2008) UPDATE: Bobby Labonte has been released from his contract with Petty Enterprises, which is trying to negotiate a deal with Gillett Evernham Motorsports that would solidify the future of its famed #43 Dodge. Petty Enterprises has been unable to find sponsorship for Labonte, a former NASCAR champion, and is in danger of eventually closing its storied organization if it can’t work out a merger with GEM. David Zucker, who took over as CEO of Petty Enterprises when Boston Ventures purchased majority interest of the organization in June, said Petty would run the #43 as a single-car team in 2009 if a merger with GEM is not completed. “Gillett Evernham Motorsports is a first class team with great drivers, sponsors and management,” Zucker said in a statement Thursday. “We look forward to improved performance and maintaining the Richard Petty legacy, with the King front and center.” Labonte, also believing Boston Ventures could bring the organization back to prominence, signed a four-year contract extension to remain behind the wheel of Richard Petty’s legendary car. Only nothing has materialized in the six months since the sale, and Petty Enterprises has had two rounds of layoffs, letting go at least 70 employees since last month’s season finale. After “serious and sincere discussions” with Petty Enterprises, Labonte said he reached the difficult decision to leave the team. Labonte said he does not have a job lined up for next season, and Chip Ganassi’s #41 is the only open ride with full-time sponsorship already secured. Ganassi recently partnered with Dale Earnhardt Inc., and has taken his time filling his vacant seat. “Bobby is a true champion who never failed to give everything he had when he was behind the wheel of one of our race cars,” Petty said.(Associated Press) UPDATE 2: Effective immediately, Bobby Labonte has been released from all contractual obligations with Petty Enterprises. The terms were mutually agreed by both parties. Labonte will now fully concentrate on preparing for the 2009 season. Comments from 2000 NASCAR Sprint Cup Champion Bobby Labonte: “In over 15 years of racing in the Sprint Cup Series, I can’t remember a time when the sport’s landscape looks as it does today. Saying that, Petty Enterprises and I had serious and very sincere discussions about what was best for myself and everyone involved at Petty Enterprises moving forward. These discussions culminated with us agreeing that moving in a separate direction will be the greatest way to reach our end goals. It was by no means an easy decision. I am, and will always be, very appreciative of what Richard Petty and the Petty family, every employee of Petty Enterprises and members of Boston Ventures did to invest in bettering my career the past three seasons. Moving forward, I’m very anxious to prepare for the 2009 season. I do not currently have a contract with any other team for 2009, but I am ready to explore all opportunities and form the next partnership in my career. I’ll continue to keep these matters private and will make the appropriate announcement and comments when my future plans are confirmed. I appreciate everyone’s continued support.”(BobbyLabonte.com)(12-11-2008) AND for the full rundown, initial rumor, Labonte to the #41 ride and updates to this rumor, see my #41 Team News and links page.(12-11-2008)
