Boston Ventures
In 2008, Boston Ventures invested into Petty Enterprises and Bobby Labonte signed a four-year extension to drive the #43 Dodge for the Pettys. General Mills will leave the #43 after the 2008 season and go to Richard Childress Racing's fourth Cup car. Boston Ventures owns investments in companies such as Six Flags. Rumors surfaced in early December 2008 that Petty Enterprises may cease operations and liquidate its assets. In January 2009, Petty Enterprises merged with Gillette Evernham Motorsports and the #43 car was absorbed into the team. Reed Sorenson will drive the #43 car in 2009. Boston Ventures was not able to secure sponsorship for either car, so they decided to liquidate the assets of the race team to pay off the loans taken out to purchase the team. Boston Ventures owns the legal rights to the Petty Enterprises name currently. As of January, the only employees left are Robbie Loomis and the King Richard Petty himself. CEO David F. Zucker has been reassigned to the Richard Petty Driving Experience, which Boston Ventures also controls.
Read more about this topic: Petty Enterprises
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