Smithfield Foods said that the company has reached a resolution with Richard Petty Motorsports over the fallout from the pork conglomerate's planned move next season to Stewart-Haas Racing. Smithfield is now expected to stay on in some form with RPM next year in addition to its move to SHR.
Sources said that RPM had also privately threatened legal action over some clauses in the Smithfield contract that it thought were broken, leading to settlement talks that have gone on for weeks.
Sources said that Smithfield's relationship with RPM will be largely different and likely reduced as part of the settlement, and it is unclear whether there will be any paint schemes involved. Meanwhile, Smithfield, which works with Illinois-based motorsports agency Protential, has yet to unveil precise details of its upcoming SHR partnership, including the car and driver that Smithfield will sponsor. Sources said that the lack of an announcement has been at least in part due to Smithfield working on the RPM settlement.
--- Sports Business Daily ---