Petty says RPM will compete in 2011

Stopping short of saying he has financial investors to keep his Sprint Cup organization afloat, Richard Petty said Saturday that Richard Petty Motorsports will compete in 2011. This came a week after the minority owner of RPM said he was in limbo for next year. Employees at RPM will get an indication Monday morning of how the company will move forward. According to a memo, a mandatory 8:00am/et meeting has been called, with instructions for no one to come to work before then. "We're going to make it," Petty said. "That's all I can say now." A source in the Cup garage said RPM, in order to restructure its financial situation, may have to shut its doors for at least a day, release most employees, then re-open. Petty would not confirm that, saying only "nothing's off the table." Regardless, major layoffs will occur as RPM will shrink from four cars to two after this season, with AJ Allmendinger and Marcos Ambrose the only drivers under contract. Petty would not confirm he has found investors to make it, but several sources in the Cup garage said the pieces appear in place. Ford Racing officials met with Petty for a briefing Saturday. Afterward, Ford spokesman Kevin Kennedy said: "It was a good meeting. We're confident it will get worked out.'' Edsel Ford II, a member of Ford's board of directors, said keeping RPM in the fold is paramount. "We've done everything we can,'' he said. "Quite frankly, a lot of their suppliers have done the same." ESPN