Petty, Gillett Evernham complete deal to form new team

STATESVILLE, North Carolina (Ticker)—Gillett Evernham Motorsports and Petty Holdings have agreed in principle to form a new four-car team that will run in the 2009 NASCAR Sprint Cup Series.

The deal, which officially was announced Tuesday, ensures that the famed No. 43 Dodge will continue racing in NASCAR’s premier series.

According to a statement released by the teams, Gillett Evernham and Petty expect to reach a final agreement by the end of January.

“I want to get back to winning, and together we will bring the resources, technology and infrastructure to do that,” said co-owner Richard Petty, who drove the No. 43 car to seven NASCAR championships from 1964-1979. “This was a big decision for us, but it’s something we really wanted to do.

“We hope everyone in the sport embraces what (GEM co-owner George Gillett) and I are doing. Nothing is going to change for me. I’m going to be at the track every weekend and really involved with the teams and drivers back at the shop. We are very happy. George and I have a lot of work to do, but we have a plan and we’ll be ready for Daytona.”

Petty and Gillett did not reveal a name for the new team.