As expected Kyle Petty announced that Boston Ventures is partnering with Petty Enterprises to take the company forward in a press conference.
Petty also announced that Bobby Labonte has signed a four-year contract extension with Petty Enterprises.
Kyle Petty said:
Let’s just say that Bobby [Labonte] will end his career here.
Kyle Petty also announced that he is taking a step back as CEO of Petty Enterprises. David Zucker will take over as CEO so Kyle can focus on Victory Junction Gang Camp, particularly building the new camp in Kansas City.
Labonte said:
I feel great that the choice I made is the right one for a lot of reasons.
Petty Enterprises hopes to eventually add a third car.
Cheerios/Betty Crocker will sponsor the No. 43 in 2009.
The deal also brings Petty Enterprises and the Richard Petty Driving Experience are also being brought together under the same umbrella. Before, they were separate entities. Now, they will be a part of the same company.
[...] this year, Boston Ventures purchased a significant stake in Petty Enterprises. The team is seeking a sponsor for Bobby Labonte and its No. 43 Dodge, which lost General Mills to [...]