NASCAR: Richard Petty Motorsports ‘very close’ to major announcements

Richard Petty Motorsports are reportedly “very close” to making several major announcements pertaining to the 2021 NASCAR Cup Series season.

Richard Petty Motorsports have been the subject of quite a bit of NASCAR Silly Season speculation in recent weeks regarding the 2021 Cup Series season, given their uncertain future.

Bubba Wallace, who holds an ownership stake in the team, is a pending free agent who has been offered an even bigger stake in the team to return behind the wheel of the #43 car for a fourth season next year.

But he has also been offered a deal to drive the #42 Chevrolet for Chip Ganassi Racing and will likely be looking for Richard Petty Motorsports to make improvements from a competitive standpoint in order to re-sign.

Additionally, there are other investors who have confirmed interest in acquiring an ownership stake in Richard Petty Motorsports, although none have been publicly confirmed. One was believed to be NBA Hall of Famer Michael Jordan, although that rumor was shot down by his spokesperson.

All throughout August, it seemed as though big news regarding the team could be announced at any moment. That news still has not come.

But now it is reportedly “very close”.

According to Sports Business Journal’s Adam Stern, team co-owner Andrew Murstein stated that the team are “very close” to making several major announcements regarding the 2021 season and beyond.

While not confirmed, it has been rumored that the one prospective investor from the NASCAR world is Joe Gibbs Racing driver Denny Hamlin.

Hamlin neither confirmed or denied this rumor when asked about whether or not he had been attempting to acquire an ownership stake in the team.

But how this would work, given the fact that drivers are not allowed to compete for a four-car team and own a separate team, remains to be seen, if it does, in fact, happen.

The prospective investor from the music industry has also not been identified.

Another rumored announcement regarding Richard Petty Motorsports, which would presumably boost their performance, is them switching manufacturers from Chevrolet to Toyota and forming a technical alliance with Joe Gibbs Racing. Such a move would likely entail the addition of a second full-time entry.

Leavine Family Racing, which formed a technical alliance with Joe Gibbs Racing ahead of the 2019 season, are set to shut down after the 2020 season, leaving Joe Gibbs Racing as the only chartered Toyota organization for the 2021 season.

Leavine Family Racing’s cars were supplied by the four-car team and are set to return there after 2020, opening the door for a new technical alliance.