CONCORD, N.C. (AP) -Richard Petty will be the chairman of his race team as part of the new ownership group.
The racing assets of Richard Petty Motorsports have been sold from George Gillett Jr. to an investment group that consists of Petty, Medallion Financial Corp., and DGP Investments.
The new group announced Monday will allow Petty to run the organization and participate in the day-to-day operations. The team will field cars for AJ Allmendinger and Marcos Ambrose in 2011.
Medallion Financial is a publicly traded investment company. Hank Aaron is among its key board members.
DGB Investments is a company owned by Douglas Bergeron, the CEO of VeriFone Systems, Inc.

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