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by deadlinediva from Lexington, NC

Last Post 2 days, 13 hours Ago


TRUMPING THE KING: THE FUTURE OF NASCAR
Jun 11, 2008 | 4:50 PM
Category: News
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Is the sale of Petty Enterprises a sign of racing times? A precursor of what's to come with other racing dynasties? We saw it with Roush Racing... and Evernham Racing... where partners became important to be remain competitive.

Now, it's the King who has been trumped by time and money. For 60 years... six decades and four generations, the Petty family raced from Level Cross. Late last year, they moved to Mooresville. Little did we know (for sure) that it was the first step for what was to come: the sale of a majority interest in the team to a Boston-based sports and entertainment captial investment company called Boston Ventures. At a news conference on Wednesday, at the Lowes Motor Speedway, Richard and Kyle Petty made it official. 

Even in his podium speech, behind the sunglasses, under a trademark cowboy hat, with his bright white grin, the King said the decision was somewhat emotional... but necessary to become competitive again. The team, which has won on in big league racing some 200 times, and won 7 championships, hasn't seen victory lane since 1999. Both Kyle Petty and his dad admitted the past few years have been a struggle.

So, instead of selling out completely, they took a compromise... taking on Boston Venture as a majority partner... crowning Richard Petty as chairman Emeritus and Kyle as the company spokesman.

So is this just the beginning? Will other racing giants like Hendricks or Childress have to take on partners to see victory circle? Or will franchising teams finally come into play, as has been bantered for years?  

 

5 Comments |  Add a Comment

Member Comments Total Comments: 5
Page 1 of 1
dansham
Jun 11, 2008 | 6:10 PM

I agree with this decision. Because it's time for a change.
DropSnob
Jun 11, 2008 | 6:48 PM

I agree that they needed to do something, but selling controling interest is like giving your soul away. Richard is nothing but a facial figure now and Kyle is just a spokesman.
Whats left for them to do?
DropSnob
Jun 11, 2008 | 7:29 PM

I agree that they needed to do something, but selling controling interest is like giving your soul away. Richard is nothing but a facial figure now and Kyle is just a spokesman.
Whats left for them to do?
sundaymoney88
Jun 11, 2008 | 9:22 PM

Richard Petty will always be "The King". Change is something that we all have to do and I admire Richard for realizing what needed to be done and executing. He cares about his drivers, his employees and also the Petty name will be stronger and stronger. Go Bobby and Kyle!!!! Hope to see you at VJGC this summer. Sincerely,
Sundaymoney
wonder_mommy
Jun 11, 2008 | 10:36 PM

It's about time,Kyle will never be the driver his dad was and well running in the back of the pack has to suck,But then I guess he is scared of winning,but he has plenty of money so he does not need to worry about it like the rest of us,He can always all back on donations to his camp
Page 1 of 1


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deadlinediva

TV Reporter, NASCAR wife, Mom. From the time I was 10 years old, I knew I would become a journalist. That was when I had my first article published in the St. Petersburg Times. The story was about our class trip to the Museum of Fine Arts, but I was hooked. And I'm still a news hawk - I admit it. I feel extremely privileged to tell other people's stories. I love people, I love being out in the field interacting with people and wouldn't trade it for anything. I was born and raised in the Sunshine State. A fifth-generation Native Floridian, I graduated from Florida State University (go Seminoles!) - the same university my mom, my aunts, my cousins and even my sister attended. I am married to Danny "Chocolate" Myers. Chocolate was the gasman for the late Dale Earnhardt for nearly 20 years and still works with Richard Childress Racing, only now he's in "management". He also hosts a radio show each day from 11 to 3 on Sirius Satellite Radio Channel 128 called "Tradin' Paint." I lost a 10-year-old daughter, Brandy, to leukemia. She was sick for five years. During that time, I spent countless nights at the Ronald McDonald House and logged countless hours with her in and out of the hospital, going through bone marrow aspirates and spinal taps and finally an autologous bone marrow transplant. She was bright and beautiful and I thank God every day for the time we had together. I am also blessed to be the mother of Alexi Nichole. Alexi attends Davidson County Community College, works at the Childress Vineyards and is a "semi-professional wake-boarder!" Last year we sold our old home in Lexington and moved fulltime to the log cabin on High Rock Lake. Some of my favorite sayings are: "God is good all the time, and all the time, God is good." "The events of my life, the circumstances of my life and the people around me in my life do not MAKE me the way I am, they REVEAL the way I am." "Carpe Diem - Seize the Day" and "Here am I, Lord, send me."

Member Since: 9/9/2006


 

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