TPG Takes 53% Majority Stake In CAA Overseas Group Launching Bid To Buy Reebok ISC's Q3 Revenues Jump 11% Oyo Sports Gets $11M Equity Infusion Nike Revenue Up In Q1 Gametime Closes On Venture Capital Round Cox Enterprises Buys Mobile Outfit Experience Wasserman Receives $100M Investment New York State OKs Lawsuit Against RBS Stats LLC Buys Bloomberg Sports
Upcoming Conferences and Events
Richard Petty Motorsports Secures Finances To Finish '10 Season
Published November 4, 2010
|Bud To Remain On Almirola's
Ride For Rest Of Season
After nearly a month of living on a "day-to-day and sometimes hour-to-hour basis," Richard Petty Motorsports has "secured the finances to finish out the final three races of the 2010 season," according to sources cited by ESPN's Ryan McGee. The development is "huge news for the RPM employees who have spent the last few weeks literally monitoring their checking accounts from the racetrack to see if their paychecks have been deposited." McGee: "As for 2011, Richard Petty continues to search for investors to keep the team intact" ("NASCAR Now," ESPN2, 11/3). Meanwhile, an RPM spokesperson said that Budweiser "will remain on" the No. 9 car driven by Aric Almirola "for the final three Sprint Cup events of the season." ESPN.com's David Newton noted there was "speculation the sponsor would not be on the car past" last Sunday's Amp Energy Juice 500 at Talladega Superspeedway "after a report surfaced that Anheuser-Busch would not make its final payment to RPM with Kasey Kahne no longer in the car." But RPM officials Tuesday said that A-B InBev "has paid through the end of the season, assuring the Bud logo will remain on the No. 9 car" (ESPN.com, 11/2).
SAD SIGHT: RACINTODAY.com's Larry Woody writes under the header, "The Petty Plight Is Sad To See." Woody: "No family has meant more and contributed greater to any sport than the Pettys have to NASCAR. Somehow it seems unfair that they should be in such a bind, struggling to survive in a sport they helped build." There is "speculation that the team might not be able to run a full schedule next season -- speculation that won't make Petty's task any easier." Woody: "Racing without Richard Petty? Surely it couldn't happen. Surely financing can be found. Surely the team can be saved. Surely there's some racing justice left" (RACINTODAY.com, 11/4).