Richard Petty Motorsports and GMS Racing confirmed Wednesday that Petty has sold a majority interest of its program to GMS owner Maury Gallagher.

A joint statement from the two sides read: “Richard Petty Motorsports has agreed to sell a majority interest to Maury Gallagher, owner of GMS Racing. Two charters are included in the agreement and will be operated during the 2022 NASCAR Cup Series season. This is a special moment for both organizations, as the Next Gen car allows a new chapter to be written.”

Additional details about the deal will be revealed early next week during a media event in Charlotte. The industry is celebrating the season-ending NASCAR Awards Show this week in Nashville.

Erik Jones and RPM announced earlier this year an extension for Jones to stay in the No. 43 Chevrolet in 2022. It will be his second season with the group, and Dave Elenz was named the team’s new crew chief earlier this month. Last week, a 26-race sponsorship for the team from FOCUSfactor was announced.

Petty’s two charters were used for the No. 43 car while the other had been leased to Rick Ware Racing. Petty has been a single-car operation since 2017.

GMS Racing is entering the NASCAR Cup Series for the first time next season with Ty Dillon as the driver of their No. 96 Chevrolet. Acquisition of Petty’s two charters would indicate that Dillon’s team will use one to ensure a starting spot in every race.