The legendary “King” of NASCAR’s race team - Richard Petty Motorsports – has signed a letter of intent to merge operations with Ford-backed Yates Racing in time for the 2010 NASCAR Sprint Cup season. The four-car team will race Ford Fusions under the Richard Petty Motorsports banner.

 

“This is a pretty big deal for us. We’re thrilled to partner with Ford, “ said Petty. “We’ve talked with a lot of folks, but in the end it came down to the success the Gilletts and I think we can achieve with Ford Racing.

 

“Right now this deal is real new. There are lots of details still left to be ironed out, so we don’t have a lot of answers for anyone. We’ll be working on all that in the coming days, weeks and months, but we do intend to have everything in place before the start of next season. I’ve won races with Ford and plan to again.”

 

Indeed, Petty raced Fords successfully for one year – 1969 – under his family-owned race team, and he captured nine of his NASCAR-record 200 wins with Ford that one season.

 

The current RPM team features one of NASCAR’s most popular drivers in Kasey Kahne, and its roster for 2010 is expected to include Kahne, Elliott Sadler, AJ Allmendinger, and Yates Racing’s Paul Menard.

 

"I am very pleased that Richard Petty Motorsports has made the decision to switch to Ford for the 2010 season," said Brian Wolfe, director, Ford North America Motorsports. "They had choices to consider other than Ford, and it's gratifying to us that they have enough faith in the Ford Motor Company and what we're doing to make the switch. We believe we can provide them with superior analytical tools and powertrain, and we will work with them closely on the technical front to help them become even more competitive than they are.

 

"What's also really cool to me is the chance to have someone with the class and the legacy of Richard Petty involved with Ford. Combine that with the chance to work with the Gillett family, who we have great respect for, and add some great drivers to the Ford camp, well, it's hard not to be excited about this opportunity."

 

“Richard and Kasey showed us Sunday night in Atlanta that they like winning quite a bit and Ford is going to provide the support that we need to go to victory lane more often, “ said Foster Gillett, RPM team managing partner. “If you are going to compete with the other teams in this sport you need a lot of support. We bring a lot to this relationship as well. We’ve won twice this season and the power of Richard Petty is hard to beat, plus we have the support of some of the biggest names in corporate America.”

 

“This is certainly a great opportunity for both Yates Racing as well as Ford Racing,” said Max Jones, co-owner of Yates Racing. “I have had a long-term relationship with Ford and look forward to continuing that relationship at Richard Petty Motorsports. Over the coming weeks we will continue to work with Ford and Richard Petty to lay out the best plan for Paul Menard and all of the employees at Yates Racing. We will continue to field both the No. 98 and No. 96 Ford Fusions for the remainder of the season and look forward to continued success on the track with Paul, Bobby Labonte and Erik Darnell.”

 

“This plan is clearly in the best interest of the Ford Racing community,” said Doug Yates, co-owner, Yates Racing. “On a personal level, I am excited about the opportunity to focus my full energy on building Ford horsepower. We look forward to combining Richard Petty Motorsports proven engine expertise into our program to produce power second to none.”

 

The RPM team plans to move from its current Statesville, NC shops to the Yates Racing facility in Concord, NC as part of the merger.

 

 

Notes:

 

· Richard Petty Motorsports formed in January when Petty Holdings and Gillett Evernham Motorsports merged. The new team fields its four cars out of shops in Statesville, N.C. and has visited victory lane twice in 2009 including Sunday’s race in Atlanta.

 

· Petty Enterprises was the most successful team in NASCAR history owning 268 Cup victories since 1949. Since spearheading Dodge’s return to NASCAR in 1999, Gillett Evernham Motorsports had recorded 15 victories and has consistently been one of the top performing teams in NASCAR.   

 

· Yates Racing, formerly known as Robert Yates Racing, owns 57 wins and nearly 50 poles as well as a Sprint Cup Championship in more than 20 years of racing. The team is owned by Doug Yates, who took the reins after his father, Robert Yates, retired following the 2007 season. In 2008, Doug Yates partnered with Max Jones.