Loomis out at Petty

Richard Petty Motorsports has elected not to renew Robbie Loomis' contract for 2012. Loomis, who was most recently listed at Chief Operating Officer for RPM, first joined Petty Enterprises as a crew chief in 1991 at the end of the King's driving career.

"I'm taking some time off," Loomis said. "My contract was up in December and I'm looking to explore what's next. Richard is still family — so is everyone else at Richard Petty Motorsports. The future is exciting because it's unknown but there's still a lot of uncertainty in what the future brings." Loomis wouldn't acknowledge whether or not he would continue on as a consultant for the team but added that he'd "Do anything to help Richard Petty Motorsports be in a better place."

But with Best Buy pulling out of RPM and Smithfield signing up for a limited schedule on the #43 Ford, it's become increasingly clear that the company could no longer afford Loomis' reported seven figure salary. While no successor for Loomis has been named, certainly with 20 years of racing experience, Sammy Johns, RPM's director of operation, is more than capable of overseeing the competition department. Fox Sports