The team said that additional details will be unveiled at an event next Tuesday afternoon at the NASCAR Hall of Fame. GMS has also acquired two charters in the agreement and will run two cars during the 2022 season. Web4.4K Items sold. Petty GMS Racing was renamed Legacy Motor Club for the 2023 NASCAR Cup Series season, and The King has no ownership stake in the organization that includes the No. Todd Gilliland on making the jump from trucks to Cup. Petty remains involved in NASCAR as the owner of Richard Petty Motorsports. After announcing that Richard Petty Motorsports had agreed to sell a majority interest to GMS Racing owner Maury Gallagher on Dec.1, Tuesday marked the Buschs win at Talladega last week, his first at the 2.66-mile track in 15 years, gave the team a boost. 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Ty Dillon: Petty GMS Racing "to get the best of me", Petty GMS Motorsports ready to 'hit the ground running', Petty GMS Motorsports ready to 'hit the ground running' The transaction results in a complete divestiture of (RPM) by the Company, removes $26 million of intangible assets from the Companys balance sheet and increases the Companys tangible book value by over $1 per share.. Better rankings are toward the top of the graph. 43, while Ty Dillon -- who had been slated to drive the No. I think a lot of that is going to come into play this weekend and next weekend, so I am optimistic and hopeful that we will have some really strong runs at Dover and Kansas. But rankings can fluctuate wildly in the first few weeks of the season because point totals are so low. WebRichard Petty Motorsports has sold a majority interest of its team to GMS Racing's Maury Gallagher. "Richard Petty Motorsports has agreed to sell a majority interest to Maury Gallagher, owner of GMS Racing," the joint statement of the two teams said. Legacy Motor Club fields Chevrolets in full-season rides for Erik Jones and rookie Noah Gragson. On Tuesday at the NASCAR Hall of Fame, Richard Petty and team owner Maury Gallagher announced the formation of Petty GMS Motorsports, which will field two full-time cars in the NASCAR Cup Series. Medallion Financial Corp., run by Andrew Murstein, has been the primary owner of the team since 2011, and the team is operated under a subsidiary, RPAC Racing. [22] Despite not making the playoffs, he won at Darlington, giving Petty GMS its first win. [10][11], On February 18, 2023, Richard Petty announced that Jimmie Johnson had taken control of the team's day-to-day operations, leaving Richard Petty without decision-making power. Petty GMS Racing was renamed Legacy Motor Club for the 2023 NASCAR Cup Series season, and The King has no ownership stake in the organization that Many drivers stay at about the same ranking in the second half of the regular season. 42 in 1981-1982. His graph for 2022 shows what that looks like. Miller "loves" KTM MotoGP challenge after 'uncomfortable' Ducati spell, How Perez profited in Baku to lay down his F1 title fight credentials, How Perez profited in Baku to lay down his F1 title fight credentials I could go on the short run, but not the long run. Last year at the same time, Busch was in fourth place, 56 points out of first. Let me walk you through two graphs summarizing Chase Elliotts 2022 regular season. "Petty GMS will have a sole focus of winning. One of those two charters had been leased to Rick Ware Racing this past season. Because stupid stuff does happen. A drivers rank depends not only on his own performance, but also on other drivers performances, too. Other than that, the cycle of racing naturally, youll end up about the same spot.. Rookie Darrell "Bubba" Wallace now drives the No. But some do. Vi, Yahoo, r en del av Yahoos varumrkesfamilj. zMAX Dragway in Concord, Max Verstappen wont stay in F1 to chase record. ET Monday. There was speculation that Petty, a 200-time race winner and the sports most beloved figure, might step away from racing The sale of majority interest of RPM to GMS If he hadnt wrecked at the last race of the regular season, he might have finished the regular season in second place. Jones began the 2022 season with a 29th place finish at the 2022 Daytona 500. 42 was docked 35 driver and owner points for an L1 penalty when the pre-race inspection revealed issues on the car's rocker box vent hole. 5.0. Gallagher, who has had success as a team owner in the Camping World Truck Series, already announced plans to field a car for Ty Dillon, whether it had a charter or not. He scored nine top-10 finishes during the season, including a third-place finish at Fontana and a fourth-place finish at Atlanta. Kyle Busch, a two-time winner 10 races into the NASCAR Cup Series season, said communication is good between his team and that of teammate Austin Dillon at Richard Childress Racing. What things can we look for and try to do. Ls vr integritetspolicy och cookiepolicy fr att f mer information om hur vi anvnder dina personuppgifter. That contributed to his finishing the season in 13th place. This year, its the 14th points-paying race. A statement from Gallagher and RPM reads: Richard Petty Motorsports has agreed to sell a majority interest to Maury Gallagher, owner of GMS Racing. Gilliland's 9.5 average finish this year ranked him second among full-time drivers in the series, just behind champion Ben Rhodes and just ahead of John Hunter Nemechek. First, lets make it clear that Im fact-checking Buschs statement, not Busch himself. The other charter thought to be involved in the deal was leased to Rick Ware Racing during the 2021 season. Since officially becoming Richard Petty Motorsports in 2009, the team has managed five Cup Series wins and featured big-name drivers like AJ Allmendinger, Kasey Kahne, and Sam Hornish Jr. Its last Cup victory came in 2014 with Aric Almirola driving a Ford Fusion at Daytona. Real-time updates and all local stories you want right in the palm of your hand. 43 Chevy Camaro ZL1 was piloted by Erik Jones. 5.0. Larsons rise was facilitated in part by Buschs struggles. For information about the Truck Series team which Petty and Johnson do not have an ownership stake in, see, Richard Petty Motorsports Car No. How NASCAR had to learn a harsh lesson ahead of Next Gen arrival, How Larson took the long way round to NASCAR Cup glory, How Larson took the long way round to NASCAR Cup glory Richard Petty An ad blocker has likely prevented this video content from loading. Richard Petty Motorsports announces partnership with Richard | Opinion, Castle for sale in SC has it all gargoyles, lions heads and even a sword in stone, Charlotte City Council member Braxton Winston announces bid for statewide office, Can Kyle Busch repeat? This year, its 61 points. In a statement from Gallagher and Richard Petty Motorsports, it reads: Richard Petty Motorsports has agreed to sell a majority interest to Maury Gallagher, The race will be broadcast by FS1, Performance Racing Network and SiriusXM NASCAR Radio. Jimmie brought all his people in, and his way of running things (and) my way of running things, are probably a little bit different, OK?. The forecast at Dover Motor Speedway didnt look good on Sunday. Medallion Corp. sold its part of the team to Gallagher for $19.1 million according to an SEC filing spotted by NBC Sports. With four years in trucks, including struggles and frustrations amid criticism from team owner Kyle Busch for a couple of seasons, Gilliland knows how to deal with the ups and downs. Elliott is far from unique. Average for the last 12 months. That is just the nature of that beast of restrictor plate racing.. Richard Petty: Breaking News, Rumors & Highlights | Yardbarker Only 21 points separate sixth through 12th place. Following Truex at the finish were Josh Berry, Justin Allgaier, Austin Hill and John Hunter Nemechek. In connection therewith, Medallion transferred all its membership interests in (RPM) to Buyer. "The opportunity to combine our two organizations on the Cup front makes a lot of sense for all of us for a number of reasons, one of which is the talent we have between the two organizations; this will make us a lot stronger together.". The Desert Center Cafe sits abandoned Friday, July 30, 2021. 43 dayglo red and Petty Blue 1974 Dodge Charger sold for $490,000. That any time you get to Charlotte, Coke 600, from there to the end of the season, points fluctuation, one or two spots barring something stupid happening. Richard Petty sold his NASCAR team. Got a tip or question for the author? Throughout the season, he only scored a top-10 finish at the Bristol dirt race. Most of the time, I run the majority of the show,Petty said. Petty GMS Motorsports: coming to a @NASCAR Cup Series race near you in '22 #PettyGMS | #NASCAR pic.twitter.com/xmw489VxPv.