I hate to see it but I guess one has to do what one has to do to stay alive in our business world. The days of the small owner are over. It is, unfortunately or fortunately, whichever your perspective, a corporate business now.
Lori, I really have mixed emotions on this one. I'm glad they are getting help, but I hate to see them not be in complete control. I guess they are doing what they have to do. Thanks for letting us know.
Hot Foot Lori
You oughtn't be surprised by this at all. It's now becoming more of a business in NASCAR than even the most advid fan of the sport could've envisaged.
There's now more money to be made via sponsors and advertizements being placed on the body of a car than there is from winning races outright.
The downside to this all might be is that we'll see a number of the smaller teams will either go out of business altogether or just have to follow suit if they're to stay alive !
So don't be surprised to see more teams do this in the foreseeable future.
To them first and foremost it's a business and any success gained is just a by product of it all.
justan' aka tophatal ...........
Last edited by justanotherfan on June 11th at 11:12 AM.
This one is tough for me, Lori. I want to say this is good in the long run for PE. But my main concern, of course, is my boy, Bobby. I really wanted him to have a chance to finish his career with a winning, if not championship-caliber, team. He has had the ability to make the Chase the last 4 years, but not the team, even his last year at JGR. But it gets more difficult each year.
Just don't see that happening at Petty, regardless of new investment. Think that Robbie Loomis is making the right moves and has won over Richard. Just not sure if they can get over the hump.
You know how I feel about Kyle's driving, so I'll just say it will happen quickly. If Chad McCumbee is not ready for Speed Weeks next year, you might see Terry in for the first five races (which would be awesome for me). Kyle is done, finished, cooked, stuffed, charred and mounted. He needs to be Petty's PR face and be a good TV announcer.
Charrit ~ I agree, it is about perspective, isn't it.
Vol ~ agreed on the mixed emotions, thanks.
Top/Al/Fan ~ I didn't say I was surprised.
Moseby ~ yeah, it does put to rest the rumor of Bobby going to RCR, though. Totally agree, 100%, about Kyle. He has been doing a stellar job in the booth and needs to find his niche within the organization.
As long as Boston Ventures is not a corporate take over specialist that chops up an organization by selling off entities, it might work for Petty Enterprises but I doubt it.
UUMMM Wonder if they would be interested in financing the Silver backs bid to be elected president.
Bobby and another four years..GREAT..
Petty and adding a partner. Might just be what they needed to get back in the top ten week in and week out. I know it is changing of the old. It might turn out to be a great thing.
Lets not pass judgement till we see how it works. Rember with the sponsors stepping out "Genral Mills" Petty Ent. needs a little help. I hope this will help put the famed #43 back in victory lane.
photogr
What's another word for venture capitalist ? Corporate raider and a massager of corporate assets. By selectively stripping an undervalued company of their very being.
In this case if walks and quacks like a duck then it's got to be .........no not a chicken but a duck. And that's what Boston Ventures is all but name.
One way or another once they've sized up the entity they'll do one of two things. Let it remain as it is or they'll bring in their own people to run the whole thing. You'll note that I didn't say ruin the whole thing.
justan' aka tophatal ........
Last edited by justanotherfan on June 11th at 2:16 PM.
Lori-The turning point was 1984 , the last time Richard Petty won a race. Richard raced another 8 yrs without a win before throwing in the towel.
What was then Petty Enterprises(Richard's team) ceased to exist until it was partnered with Kyle's team and became Petty Enterprises 2, later changed back to just PE. The strength of the Petty was supposed to be Adam, not Kyle.
Sadly, Adam died, and for the most part, Petty Enterprise died with him.
Not a bad thing for Kyle, because Adam's loss was what inspired the whole Victo4ry Junction thing, which to me, is what Kyle was meant to do instead of drive.
Cuda ~ very well said. I agree about Kyle's destiny being the camp. And with another being built in Kansas City, I don't think anyone would knock the importance of that venture.
What would NASCAR be like if Davey Allison, Adam Petty and Dale Earnhardt (among others) were still here?
Rmember my first blog on this site about This and That and the difference between Petty's career earnings and todays drivers? They make more in 1 year and 35 races than what he made in 35 years and over 1000 races.
Hard to keep up with the superteams without a major cash flow.
The new regime thats buying out Petty won't really be a Petty influenced or operated company, so there's no use in calling it Petty Enterprises anymore.
Time for Kyle to move on to "oblivion" as u call it. And whats the definition for "oblivion" for retired athletes?
My guess is "ESPN."
Last edited by Texascudaguy on June 11th at 1:24 PM.
Photo ~ I bet they would put up the financial backing for your bid, as long as you sign a contract agreeing to be displayed at Six Flags on a regular basis :)
photogr
If you're running for President then please don't make the mistake of nominating Bea Arthur as your running mate...........please don't do it , .......please !
I implore you , nay , I beg you please don't do it !
Next year Kyle will no longer race, he'll move to an analysis role for television now that he doesn't have to worry about the team, but probably still do stuff to promote the Victory Junction Gang too.
Lori- Mixed feelings here as well, but have to agree with Cuda about the Petty's losing touch with racing but leading the way on charity. Kyle's legacy will be with all those kids he serves, not from the track or the booth. I can only hope the merger will work like GEM did, I cant imagine anyone would want to mess with the Petty brand and have millions of nascar fans after them...I bet they really try to make it work and Robbie Loomis is making good headway. Thats my wishful thinking anyway.
Good News, Bad News? Bobby having a secure contract for 4 years - Good News.
The end of Petty Enterprises as we know it - Good News if they put the money into it and make them competitive again. It has been a very long time.
Look for Kyle to move to the booth. He does a excellent job there. He is informative and entertaining without getting under your skin, he definitely has my vote to replace Rusty Wallace. There will always be work to be done for Victory Junction which will preserve the Petty name forever.
K ~ yeah the article mentioned Loomis convincing Richard to do this. I had hoped them moving shop would be a key to their success, but I guess this will eventually be the key.
Lori, good post. Like many that have posted, I have mixed feelings. I'd love to see PE competitive again, and Bobby Labonte make the Chase just once before his career ends. I hope this infusion of $$$$$$ will allow PE (or whatever the new name of the racing team is) to be competitive.
Kyle Petty will make an excellent analyst. Plus his work with Victory Junction is tireless and very admirable. God bless him.
Hi Lori - Running around today and missed your blog earlier. As others have said...mixed feelings about them having an investor, but they need to do what can help them. Hopefully we'll see some progress by next year reflective with more consistant performances by the team. And I hope that Bobby Labonte will not regret his decision to stay.
As far as Kyle Petty...I would think he'll be in the booth by 2009 or 2010 at the latest. Hasnt the last two years of doing broadcasting stints for several races during the season really just been a test for him to decide that's where his future is?
Kyle should have steped out long ago, he'll be out before the end of the month. maybe with some fresh money and someone who wants to race in th #45 they can get back to winning. Looked whats its done for the #9 cot
it will always be petty ent,that was the one thing richard insisted on,no name change.it will help them no douth about that.i told you folks all along bobby would stay.he wants to bring that # 43 back to victory lane more than anything.as for kyle he wll step down,although i still think he has a few good runs left in him.he may be a new man now that he has had the world lifted off his shoulders.he is better driver than he has ever been given credit for being.i remember him in his younger days,drivings that mello yello #42.he at one time owned the rock.in his younger days he would mix it up with best.
Out with the old, and in with the new. Maybe Nascar wont protect his legacy (wins) and give Gordon the wins he was supposed to get and break Pettys record already . JMHO Cant sit here and waste time protecting Nascar History, when there is still so much history to be made, for a newer better nascar, with better drivers and cars. If you hold on to the past, you will be just that, the past.
I have mixed emotions on this. I hate to see a 60 year cornerstone of NASCAR suffer hard times and such a drastic change to recover. But then you have to admit Petty Enterprises has been non-competitive, in the grand scheme of things, for quite some time. A little money infusion can only be a good thing. I just wonder if in a few years, will the Petty family be involved at more than a name-only level. I wouldn't call it a hostile takeover, but it doesn't sound friendly at all.
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Too bad for the Petty's but that is NASCAR today. As for Kyle, he should have retired years ago and would have if Adam hadn't died in NH. MAybe the Woods need to join the Petty's so the 21 could race, really race instead of seeing my NASCAR racer Awsome Bill use all of his past champions to get into races. Call it Boston-Woods-Petty Enterprises and let the 21 and 43 run hard.
