• The Detroit News , Friday, June 5, 2009 10:45 AM

Negotiations for the Saturn brand between General Motors and a group headed by Detroit auto tycoon Roger Penske are close and could continue into the weekend, a source close to the talks tells Robert Snell. Neither GM nor Penske would confirm that a sale is imminent, but Saturn spokesman Steve Janisse confirms that "negotiations are literally going around the clock, and we hope to have something to announce soon."

Penske is a billionaire Detroit booster and auto racing legend who oversaw the city's Super Bowl XL preparation. He is the head of Penske Automotive Group, which operates more than 300 franchises in the United States and internationally, selling 40 brands.

The sale would free Saturn from speculation about its future that dealers complain has depressed sales. "We're pretty excited to get that cloud removed," says Dan Jonuska, a Saturn dealer in Scottsdale, Ariz. "The cloud can go away and park anywhere it wants but right here."

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