Two-time NASCAR champion Tony Stewart has been granted a release from the final year of his driving contract with Joe Gibbs Racing after 10 seasons with the team.
At Chicagoland Speedway, Stewart will formally announce a move to Haas/CNC Racing as co-owner and driver, sources close to Stewart said.
Haas/CNC, which currently fields the Nos. 66 and 70 Chevrolets, will be renamed Stewart Haas Racing in 2009.
While exploring his options, Stewart was most intrigued in potential ownership opportunities and he’s had an offer on the table since April to purchase the fledgling two-car team of Haas-CNC Racing. By owning his own team, Stewart believed he could ensure a spot for himself in NASCAR long after his driving days.
But he first had to gain his release, something owner Joe Gibbs and team president J.D. Gibbs had insisted they would not agree to.
“We’ve got Tony signed through ‘08 and ‘09, and we want to go full bore and win a bunch of races and championships together,” J.D. Gibbs said in April. “Our hope is that if you do that, then long term this will be the spot he chooses to retire. But the reality is we only control these next couple of years, and we went through this his last contract negotiations when he had a lot of options out there.
“Our hope is we do our job, and he retires here.”
When it became clear Stewart wanted out, the Gibbs’ finally relented and will apparently sign off on his early departure Wednesday. The team is expected to replace the 37-year-old Stewart, one of NASCAR’s most celebrated drivers, with 18-year-old phenom Joey Logano with Home Depot staying on board as the sponsor.
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