GEM and Petty Reach Tentative Agreement forImpending Merger

Well there you have it, Gillett Evernham Motorsports and Petty Holdings have reached a tentative agreement to form a new Cup team co-owned by Richard Petty, Petty Holdings (owned by Boston Ventures with Petty as a minority owner) and Gillett Evernham Motorsports.

 

No word yet on the new offical team name but I think the new team should be called PEG Holdings Motorsports (P for Petty, E for Evernham and G for Gillette), or MPM for Melting-Pot Motorsports, or even better RR'Gone Gillette Holdings Motorsports (RR standing for Ray Evernham and Richard Petty)!

 

Also, no official word about the Elliott Sadler/AJ Allmendinger situation.

 

I agree BTW with Sadler suing about his contract not being carried out the way it was agreed to. Sadler's filing against GEM, George Gillett, Ray Evernham Enterprises and Allmendinger (yep, even him) seeks "injunctive relief" as well as "general, consequential, treble and punitive damages". My only question in all of this is what the hell is treble damages? Did the treble in the in-car radio cause some sort of ear damage because it wasn't set right during the last race or what?

 


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