CHARLOTTE, N.C. (AP) -- Petty Enterprises has been rescued by a competitor.
Gillett Evernham Motorsports has agreed in principle to merge with Richard Petty's organization in a deal that isn't expected to be finalized until the end of the month. GEM had been in exclusive negotiations with Petty Enterprises to combine the two teams into one four-car organization.
Petty Enterprises is the winningest team in NASCAR history with 268 Cup victories since 1949. But its last victory came with John Andretti in 1999.
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