Smithfield Foods CEO: Richard Petty is lying about the handshake

Smithfield Foods CEO responds to Richard Petty

Yesterday morning, Smithfield foods announced they would be moving to Stewart-Haas Racing. Previously, they were the sponsor of the #43 Richard Petty Motorsports machine.

Related: NASCAR sponsor Smithfield Foods to Stewart-Haas Racing

Stewart-Haas Racing picked up a sponsor but lost a driver. Hours later, it was announced that Danica Patrick would not return to Stewart-Haas Racing.

At the same time, Richard Petty expected Smithfield Foods in 2018. The NASCAR team owner claimed they had a ‘handshake’ deal for next season. So, Richard Petty issued a statement detailing that.

Related: Richard Petty comments on handshake deal with Smithfield Foods

Grab your popcorn bucket. Now, Smithfield has a rebuttal to those claims by Richard Petty. Here’s the full statement from Sullivan, the Smithfield CEO below.

CEO Smithfield Foods:

Kenneth M. Sullivan - Smithfield Foods CEO
Kenneth M. Sullivan – Smithfield Foods CEO

“We are extremely disappointed that Richard Petty Motorsports (RPM) has chosen to disparage Smithfield — its lead sponsor — after five years and tens of millions of dollars of unwavering financial support, despite years of subpar performance on the track.

“RPM’s claims of a ‘handshake deal’ to extend our sponsorship are unequivocally and patently false.”

“Smithfield’s numerous discussions with RPM over the past several months focused exclusively around one issue: RPM’s inability to deliver on the track and the organization’s repeated failure to present a plan to address its lack of competitiveness.”

“Smithfield is a performance driven company and we demand performance from the people we do business with. For that reason — and that reason alone — Smithfield decided not to renew its contract with RPM when it expires at the end of this year.”

“It is very unfortunate and disheartening that RPM has chosen to disseminate false statements regarding our communications to NASCAR fans who we have supported wholeheartedly with more than a $100 million investment in the sport over the last several years.”

-Statement attributable to Kenneth M. Sullivan, President and Chief Executive Officer, Smithfield Foods, Inc


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