Richard Petty to chair revamped team

Updated: November 29, 2010, 10:53 AM ET
By David Newton | ESPN.com

CHARLOTTE, N.C. -- Richard Petty has partnered with Medallion Financial Corp and DGB Investments to restructure the financial assets of Richard Petty Motorsports and regain control of the company.

Petty will serve as chairman of RPM and oversee much of the day-to-day operations of the organization that was left in financial ruin by former majority owner George Gillett Jr., who no longer has ownership.

RPM will operate as a two-car organization with AJ Allmendinger in the famed ...

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