Richard Petty Motorsports
Carole

Colorado Springs, CO

#1 Apr 12, 2010
Scene Daily.com reported today that Richard Petty Motorsports is in default of a $90 million loan due to the loss of Dodge support. This was a Street and Smith's Sports Business Journal article by Daniel Kaplan. We shall see what happens with this. Supposedly the loan is not structured to include Geo. Gillett's assets just the teams. That is a whole boat load of cash to deliver. Good luck!
Edwin Perkins

Ennis, TX

#2 Apr 13, 2010
The good news as at least the team was able to use that money in the form of a loan. So the team(s) were not penalized for Dodge holding back. I think this dollar amount is over a few years (probably back the the Evernham days) as the total value of RPM was recently estimated at around 125 million.

Since: Mar 10

Location hidden

#3 Apr 13, 2010
Well they announced today Kasey Kahne going to be driving for Hendricks next year. Wonder where Hendricks head is at?? Up his butt I am thinking. But then he hired Earnhardt Jr and he hasnt done squat. Maybe Jeff is going to retire after this season. You just never know.
Once

San Antonio, TX

#4 Apr 13, 2010
racing3n88 wrote:
. Wonder where Hendricks head is at?? Up his butt I am thinking.
KK is a proven winner and a consistent challenger for a win on any given weekend, so I would say he is a wanted commodity. So running for HMS is not a stretch.
Mikey fan

Toledo, OH

#5 Apr 13, 2010
racing3n88 wrote:
Well they announced today Kasey Kahne going to be driving for Hendricks next year. Wonder where Hendricks head is at?? Up his butt I am thinking. But then he hired Earnhardt Jr and he hasnt done squat. Maybe Jeff is going to retire after this season. You just never know.
Kahne goes to Hendrick Motorsports in 2012..most likely will drive the #5. He will not be at Richard Petty Motorsports next year--his 2011 plans are undecided at this time. Gee, that will make Elliott the driver at RPM with the most seniority, assuming HE comes back in 2011.
Carole

Colorado Springs, CO

#6 Apr 13, 2010
I read where KK will be driving for Hendricks in 2012 not next year. Next year has not been decided yet. Glad he is getting out of RPM's losing venture. Guess we will have to wait and see on this. I am not surprised. Perhaps driving for Stewart?
Once

San Antonio, TX

#7 Apr 13, 2010
Carole wrote:
Glad he is getting out of RPM's losing venture.
losing venture? please explain.

Or are you saying the a tier two ride with RPM as a step down for a tier one driver like KK?
Carole

Colorado Springs, CO

#8 Apr 13, 2010
Yes Once I believe that to be true. He has stuck it out while they have tried to get the teams all going well but it hasn't jelled. JMO on this. I believe KK will do better with another team. What do you think? RPM may not even make it next year-who knows. Money and sponsorship could be a big problem for them.
Edwin Perkins

Ennis, TX

#9 Apr 14, 2010
This maybe the catalyst for RPM to clean house. I think the only driver to have years left on a contract is A.J. And I don't think RPM wants to lose that investment just yet.

Since: Jan 09

Location hidden

#10 Apr 15, 2010
racing3n88 wrote:
Well they announced today Kasey Kahne going to be driving for Hendricks next year. Wonder where Hendricks head is at?? Up his butt I am thinking. But then he hired Earnhardt Jr and he hasnt done squat. Maybe Jeff is going to retire after this season. You just never know.
I read that Kasey is going to Stewart/Haas next year (taking BUD with him). In 2012, Kasey is going to Hendrick to drive the No. 5 (no BUD with Hendrick). I figured Kasey would go somewhere else, considering He and Ford had a falling out years ago. That is what I read on NASCAR.com when the team was changing to Ford.

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