RPM will operate as a two-car organization with AJ Allmendinger in the famed #43 that Petty drove to 198 [of 200] wins and seven championships and Marcos Ambrose in the #9. Sources said rights to the owner’s points for the #98 driven by Paul Menard are moving to Menard at Richard Childress Racing [#27 Chevy] and the points from the #19 driven by Elliott Sadler are expected to go to the #21 owned by the Wood Brothers. Andrew Murstein, the president of Medallion Financial, said he agreed to get involved only if Petty made a substantial commitment along with his company and DGB. While he couldn’t divulge details due to a confidentiality agreement, Murstein said all three parties invested millions of dollars. Murstein said the more than $100 million of debt on RPM operations has been paid off. “A fresh start for Petty coming in with no debt,” he said. The sale of RPM’s racing assets to Medallion Financial and DGB Investments not only takes Gillett out of ownership but also Ray Evernham, who remained a minority owner after selling what was Evernham Motorsports to Gillett in 2007.(ESPN)
Ford Statement: Statement from Jamie Allison, Director, Ford North America Motorsports, on Richard Petty Motorsports: “We’re elated that Richard Petty has been able to complete this very complex task of restructuring Richard Petty Motorsports. Everyone knows that The King is a motorsports icon and to have him part of the Ford Racing family is something we cherish. We’re also excited about moving forward with Andy Murstein and Doug Bergeron, two men whose knowledge and understanding of what it takes to be successful will serve RPM well in the future. I am extending a personal welcome to Andy and Doug from all of us at Ford. Now, we can concentrate on the task at hand, which is getting AJ Allmendinger and Marcos Ambrose the resources they need to win races and make the Chase in 2011.”(Ford Racing)(11-29-2010)
