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Labonte, Petty part ways

Updated: December 11, 2008, 3:22 PM ET
By David Newton | ESPN.com

CHARLOTTE, N.C. -- Bobby Labonte and Petty Enterprises have reached a mutual agreement to separate, the team confirmed on Thursday.

The 2000 Sprint Cup champion earlier this season signed a four-year extension with partial ownership to remain in the famed No. 43 car that Richard Petty drove to seven titles when Boston Ventures purchased majority interest in NASCAR's most storied organization.

But with the car unsponsored -- General Mills is moving to Richard Childress ...

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