CONCORD, N.C. (AP) -- Richard Petty says he has finished financially restructuring his race team and will field two cars in 2011.
The seven-time NASCAR champion says 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.
Cutting back to two teams will lead to significant layoffs at RPM.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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