SPORTS ILLUSTRATED IS REPORTING THAT Petty Enterprises will announce later today that they will not be fielding a NASCAR racing team in 2009.
The team will be merging with the George Gillett organization and will be running Gillett’s fourth car in the upcoming campaign. The economic downturn has been hitting the auto racing community hard since the sponsorship monies have been scarce. Sports sponsorships of all types are becoming hard for corporations to justify during the lean times. NASCAR teams have already laid off over 500 employees since the season ended this year.
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Petty Enterprises has been involved with NASCAR since it’s beginnings in 1949 and was the only remaining organization that was a part of the original Daytona 500.
Read the Sports Illustrated posting HERE.
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