Richard Petty Motorsports (RPM)—owned by NASCAR Hall of Famer Richard Petty—has sold a majority interest to GMS Racing owner Maury Gallagher.

A statement from Gallagher and RPM reads: “Richard Petty Motorsports has agreed to sell a majority interest to Maury Gallagher, owner of GMS Racing. Two charters are included in the agreement and will be operated during the 2022 NASCAR Cup Series season. This is a special moment for both organizations as the Next Gen car allows a new chapter to be written.”

GMS Racing had previously announced that it would expand its NASCAR operation into the Cup Series level in 2022. Ty Dillon was revealed as the driver of the brand-new No. 94 Chevrolet. RPM, meantime, confirmed two-time NASCAR Cup Series winner Erik Jones will return to the No. 43 Chevy. 

RPM began racing in 2000 under a different name, Evernham Motorsports, and took on its current branding in honor of “The King” in 2009 following a merger between Gillett Evernham Motorsports and Petty Enterprises. Since 2009, RPM has won five Cup races and two Xfinity Series races. 

For more information: gmsracing.net and richardpettymotorsports.com.