Wednesday, March 7, 2012

AP source: Bobby Labonte agrees to extension

Bobby Labonte became the latest driver to take himself off the free-agent market, agreeing to a contract extension with Petty Enterprises, a person familiar with the negotiations told The Associated Press.

The former Cup Series champion had been considering an extension since late last year and decided this week to continue driving the famed No. 43 Dodge.

The person spoke to the AP on condition of anonymity Saturday because portions of the deal, including sponsorship, are still being completed.

Labonte, who starts 39th in Saturday night's race at Richmond International Raceway, was not immediately available for comment.

David Hovis, a …

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