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Report: Richard Petty Motorsports Offers Bubba Wallace Partial Ownership of Organization in Contract Negotiations

Darrell “Bubba” Wallace, driver of the #43 McDonald’s Chevrolet Camaro ZL1 1LE, races to a 21st place finish with Matt Kenneth, driver of the #42 Credit One Bank Camaro ZL1 1LE who finished in 15th place Sunday, June 7, 2020 during the NASCAR Cup Series Folds of Honor Quiktrip 500 at Atlanta Motor Speedway in Hampton, Georgia. Drivers raced to empty Atlanta Motor Speedway spectator seats due to the COVID-19 pandemic. (Photo for Chevy Racing by Chris Graythenn/Getty Images)

When making a decision on where he wants to drive in 2021, Bubba Wallace will have some unique offers to consider, including an offer from Richard Petty Motorsports that would see the 26-year old become a partial owner of the historic organization.

Andrew Murstein – partial owner of Richard Petty Motorsports — confirmed to Forbes SportsMoney’s David Smith, that the organization has offered a contract extension to Wallace – whose current contractual agreement is set to expire at the conclusion of the 2020 NASCAR Season — that would include partial ownership of Richard Petty Motorsports for the 2021 season and beyond.

“We’re in discussions with him about an extension that includes ownership in the team,” Murstein told Forbes SportsMoney, who expects an agreement to be finalized “within the next couple of weeks.”

Wallace is one of the most prominent drivers who will enter free agency at the end of the season, with drivers like Brad Keselowski, Matt DiBenedetto, Erik Jones and Kyle Larson still with plans undetermined for the 2021 season.

In the NASCAR Cup Series, partial ownership of an organization is not something that is often offered to drivers in contract negotiations.

Prior to the 2002 season, Jeff Gordon signed a lifetime contract with Hendrick Motorsports, granting the four-time series champion partial ownership of the organization. Just six years later, Gene Haas enticed Tony Stewart away from Joe Gibbs Racing with a 50% ownership stake in what is now known as Stewart-Haas Racing, where Stewart won his third series title in 2011.

 

Although not a NASCAR Cup Series champion, Wallace brings a unique form of value to Richard Petty Motorsports, with Wallace being a driving force in many of the changes NASCAR has made this year in order to be a better and more inclusive sport.

The recent surge in recognition for Wallace, has been a benefit to Richard Petty Motorsports in recent months, as the organization has seen a surplus of sponsorship interest in recent months, including inking a multi-year, multi-race partnership with mobile payment service Cash App, who will adorn Wallace’s No. 43 in five events throughout the season.

Richard Petty Motorsports isn’t the only option for Wallace, as Sports Business Journal’s Adam Stern reported on Friday Afternoon (July 31st, 2020) that Chip Ganassi Racing may be an option for the Alabama-native, who shares a common sponsor with the team in the form of fast-food giant McDonalds.

 

Through 19 of 36 events scheduled this season, Wallace is on track to have a career-year, already besting his personal record for most top-fifteens in a single season, while on track to earn the best average finish and points finish of his NASCAR Cup Series career. Although the equipment isn’t top-shelf, Wallace is proving that he is capable of outperforming expectations in the No. 43.

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