New Investor For Petty Enterprises

In a press conference today at Lowes Motor Speedway, Kyle Petty, along with NASCAR's Brian France, #43 driver Bobby Labonte, Richard Petty, new CEO David Zucker and Andrew C. Davis, Managing Director of Boston Ventures, announced a partnership between Boston Ventures and Petty Enterprises. Zucker becomes the first non Petty to be in chargeof Petty Enterprises, and he said that he plans to expand to more cars in the future. No announcement was made about sponsorships past 2009. General Mills/Cheerios will leave the #43 after 2008 season. The portfolio of businesses that Boston Ventures has include American Media Inc. (The National Enquirer), Billboard Publications, Continental Cablevision, Marshall & Swift, Motown Records, River City Broadcasting, Six Flags Entertainment, Survey Sampling, Inc., and Vue Entertainment.

Also announced was a 4 year extension for driver Bobby LaBonte, which will keep LaBonte in the #43 until 2012. “I have known all along this is where I want to finish my racing career,” said Labonte.