RPM restructuring: 2 cars for 2011

Updated: November 22, 2010, 11:27 AM ET
ESPN.com news services

CONCORD, N.C. -- Richard Petty says he has finished financially restructuring his race team and will field two cars in 2011.

Petty, a seven-time NASCAR champion, said the team will go from four cars to two next year, and field Fords for AJ Allmendinger and Marcos Ambrose.

Richard Petty Motorsports was in turmoil the last two months of the season because of the financial problems plaguing majority owner George Gillett Jr. Making it to the final four races of the year was not guaranteed for RPM because of debts not paid to partner Roush-Fenway Racing.

Petty owned just a small stake in RPM, but was working on a plan to take control of the organization from Gillett.

"Currently, we are concentrating on building two solid programs with AJ Allmendinger behind the wheel of the No. 43 entry and Marcos Ambrose in the No. 9 Ford," Petty said in a statement Monday. "We are very fortunate to have an extremely loyal family of partners and are looking forward to the future."

Cutting back to two teams will lead to significant layoffs at RPM.

Information from The Associated Press was used in this report.

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