NASCAR

Source: Wallace, Hamlin, to purchase RPM stake; team to switch to Toyota with second car, JGR backing

NASCAR Cup Series drivers Bubba Wallace and Denny Hamlin, along with both purchase stake of Richard Petty Motorsports (RPM) as the team will switch to Toyota as a manufacturer, a source has told UNB! Sports.

Rumors regarding Naismith Basketball Hall-of-Famer Michael Jordan’s involvement in the stake have been proven false, as stated by Bob Pockrass. That is contrary to UNB! Sports’ previous reporting on the subject.

Under the new-look RPM, the team will be competing under affiliation with Joe Gibbs Racing, the source said. The team will also expand to two cars, and Jr. Motorsports’ Daniel Hemric is the leading candidate for that second ride.

NASCAR’s current rules prohibit a driver from racing for another team and owning stake in another, assuming the total number of cars in the two teams exceed four.

Wallace has been mulling his options for the 2021 season, and Chip Ganassi Racing (CGR) and their No. 42 Chevrolet has been one of those options. According to sources, CGR will be sending Wallace a final offer on Monday, but Wallace is not expecting it to be what he is quite looking for.

Wallace’s new deal with RPM, when signed, is expected to be three years in length, and will have him under the role as a driver-team owner with RPM, according to sources.

The NASCAR rule book has rules that prohibit drivers from being able to own stake in a team while running for another, assuming the total numbers of cars in both organizations exceed four. The details on how Hamlin will be allowed to still race for Joe Gibbs Racing while owning RPM stake are still unknown.

However, an example of an exception to that rule is Dale Earnhardt, who was able to race for Richard Childress Racing while having a major ownership role in Dale Earnhardt Incorporated. The current rule was not in place at the time.

Jordan, a six-time NBA Champion with the Chicago Bulls, has been tied to RPM owner Richard Petty for quite some time, as the two have appeared in public together numerous times over the years.

The origins of the rumors involving Jordan were first reported by Dirty Mo Media’s “Door, Bumper, Clear.”

Previously, UNB! Sports’ reporting stated that the terms of Hamlin buying into the stake was nearing completion, as there are some final details being worked out, and that an announcement on the purchase of stake was expected in the next two-to-three weeks.

The status of that announcement, at least in terms of Hamlin, is now up in the air.

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This story has been updated to state that Daniel Hemric is currently racing for Jr. Motorsports, and not Richard Childress Racing.

Additional details about NASCAR’s rules from their rule book have been included as well.

Information regarding new reports from Bob Pockrass of FOX Sports are now included in this piece.

8 replies »

  1. A team with Richard Petty’s name on it, who have run at least six different makes of AMERICAN car will now run a foreign brand. Hell just froze over!

      • Toyota Motor Corporation is a Japanese multinational automotive manufacturer headquartered in Toyota, Aichi, Japan. Nothing American about that at all. However they do make cars in the USA.

  2. Well if this is somewhat true I’m happy and disappointed both, I am very excited about Bubba staying with RPM but at the same time disappointed that the Petty name would be associated with a foreign manufacturer……

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