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Richard Petty Motorsports Shuts Down XFINITY Series Team After Sponsor Nonpayment

NascarMedia.com

NASCAR

Richard Petty Motorsports announced Wednesday that their #43 NASCAR XFINITY team with driver Jeb Burton has suspended operations due to financial issues with the team’s primary sponsor, J. Streicher.

Due to missed payments, Richard Petty Motorsports is forced to cut back the originally-planned full-time schedule put together originally at the 11th hour when J. Streicher came on board.

J. Streicher joined Richard Petty Motorsports late in the off-season for their first sponsorship in NASCAR supporting Burton’s first full-time season in the NASCAR XFINITY Series. Burton and the team got to work, and just days after signing the agreement with J. Streicher, the team competed in the season opener at Daytona.

The team tallied one Top-10 and four Top-15 finishes in the first 10 races of the season and currently is in position to compete for the Chase in the NASCAR XFINITY Series at 11th behind Ryan Reed.

“This is an unfortunate situation,” said Richard Petty Motorsports CEO Brian Moffitt. “We make commitments to both our employees and vendors that are based on sponsor commitments, and we take those commitments seriously. We will pursue every avenue to ensure the contractual obligations between RPM and our sponsor are met. We’ll take each week as it comes and do our best to get the #43 Ford Mustang on track as much as possible this season.”

Richard Petty Motorsports and Burton will continue their relationship though throughout the season, as Jeb is also scheduled to drive the #32 Ford for GO FAS Racing in the Sprint Cup Series this weekend at Pocono.

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