Smithfield blasts 'patently false' RPM statement

The split between Richard Petty Motorsports and sponsor Smithfield Foods descended into acrimony late on Tuesday, with the latter issuing a sharp riposte to what it described as "patently false" statements by RPM.

"I come from a time when we did major deals with sponsors like STP on a handshake," Petty said. "I'm sad to see this is where we are now."

Smithfield responded with a statement of its own attributed to president and CEO Kenneth M. Sullivan in which it rejected any notion of having made any agreement to continue its relationship with RPM, and said that its decision to switch teams was entirely due to RPM's poor performance.

"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," the statement read.

"RPM's claims of a 'handshake deal' are unequivocally and patently false. Smithfield's numerous discussions with RPM over the past several months have 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 with NASCAR fans who we have supported wholeheartedly with more than a $100 million investment in the sport over the last several years."