Done deal

Earlier today, Petty Enterprises announced a deal with investment company Boston Ventures that has the company taking in a investment with the organization. There will also be some management changes at Petty Enterprises as Barry Baker will become chairmen of the team replacing Richard Petty and David Zucker will replace Kyle Petty as CEO of the team.

“David is the perfect choice to be the new Petty Enterprises CEO,” Richard Petty said. “He’s done great things, and he’s been very innovative at some prominent companies in this country. But, more importantly, he knows racing. He worked at ESPN for eight years and helped them get back into the sport. That part was important to us. Petty Enterprises builds race cars. That’s what we do. So we felt like we needed to bring someone in that can relate to the core of our business and expand what we currently do for our sponsors."

Petty Enterprises also announced that they reached a deal with driver Bobby Labonte. Labonte will be behind the wheel of the 43 car through 2012. The team still searches for sponsorship in 2009, though.

Hopefully these changes will get this team back in gear and have them heading to a place in which they haven't seen in almost a decade, victory lane.

The 'new Petty Enterprises' is unveiled, with new investor, CEO (Scenedaily.com)