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KANSAS CITY, KANSAS - OCTOBER 24: Erik Jones, driver of the #43 Petty's Garage Chevrolet, drives during the NASCAR Cup Series Hollywood Casino 400 at Kansas Speedway on October 24, 2021 in Kansas City, Kansas. (Photo by Sean Gardner/Getty Images) | Getty Images
KANSAS CITY, KANSAS - OCTOBER 24: Erik Jones, driver of the #43 Petty's Garage Chevrolet, drives during the NASCAR Cup Series Hollywood Casino 400 at Kansas Speedway on October 24, 2021 in Kansas City, Kansas. (Photo by Sean Gardner/Getty Images) | Getty Images

Richard Petty Motorsports sells majority interest to GMS Racing UPDATE

UPDATE: Sports Business Journal’s Adam Stern reports that GMS Racing paid Medallion Financial $19 million for a controlling interest in Richard Petty Motorsports.

ORIGINAL POST 12-2-2021: Statement from Maury Gallagher and Richard Petty Motorsports:

“Richard Petty Motorsports has agreed to sell a majority interest to Maury Gallagher, owner of GMS Racing. Two charters are included in the agreement and will be operated during the 2022 NASCAR Cup Series season. This is a special moment for both organizations, as the Next Gen car allows a new chapter to be written.”

— GMS Racing —

This deal will see the #43 continue to run full-time with a charter. The second charter included has been used by the #51 of Rick Ware Racing.  Next season it will be used by the #94 of Ty Dillon.