One of the Top 5 colossal screw-ups that had lead to the loss of interest in the sport. But perhaps that's just my opinion.

As for the ownership change, last I heard ichard only owned 5% of Petty Motorsports, and that goes back many years. He still enjoys being involved to a small degree, and being at the track, events, etc. Kyle has said he thinks his Dad would have passed by now if not for his continued involvement in racing. The reports I have read say majority interest for GMS, not complete ownership. So Richard may have maintained his small stake. I don't know. Brian Moffitt who is current CEO of Petty Motorsports is family, IIRC. No word on his future that I have seen.