Petty to close shop, merge with GEM

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After 60 years in NASCAR, Petty enterprises is closing its shop and merging with GEM.

A deal has been struck for Petty Enterprises to close its shop in Mooresville and merge with Gillett Everham Motorsports of Statesville, N.C, Foxsports.com is reporting.

Petty Enterprises moved its NASCAR racing operation to Mooresville from Level Cross in January 2008.

Foxsports.com reporter Lee Spencer says the famed Petty No. 43 car will become part of the Gillett racing stable, with Reed Sorenson as driver. He would succeed Bobby Lebonte, who has driven the car for the past three years but parted ways with the Pettys in December.

The deal was struck on Christmas Eve and will be officially announced next week, Spencer is reporting.

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