After two Sprint Cup championships and earning more than $68 million, Stewart will take on a new challenge when he becomes half owner of the team, which will be later named Stewart-Haas Racing.
The move was announced after Joe Gibbs Racing granted Stewart a release from the final year of his contract. The No. 20 Toyota looks driven by young star and Gibbs Racing favorite, 18-year-old Joey Logano next year.Stewart knows it won't be easy.
"There's no guarantees that this is going to be successful," Stewart said to the AP on Thursday.
This year's Haas-CNC team, composed of No. 66 Scott Riggs and No. 77 Jason Leffler, hasn't even been successful enough to crack into the top 35 in owner points.
Despite the current state of Haas-CNC, Stewart is all smiles with his new job.
As a 50 percent owner, Stewart finds himself with more duties and more control.
As the team's new driver, he will finally have his hands on the wheel of a Chevy; the name that brought him two titles and years of great driving before Joe Gibbs Racing switched to Toyota this year.
"I feel like we have the variables in place to go out and be competitive right away," Stewart said to the AP.
While it may be true that Stewart-Haas Racing will sport top-level equipment from Hendrick Motorsports and a bolstered roster, Stewart will miss one thing next year. Stewart's crew chief, Greg Zipadelli, made the decision to stick with Joe Gibbs Racing, which will end his run with Stewart that began more than 10 years ago.
"All good things must come to an end, I guess, at some point in time, and this is our time," Zipadelli said to ESPN.com
With the cat finally out of the bag on Stewart's future, attention has swiftly turned to making words turn into a team.
With a big name comes big sponsors, and according to ESPN.com, sources say Stewart's primary sponsor will be Office Depot. Names such as Old Spice and Burger King are also expected to be involved in the Stewart-Haas promotion.
Stewart's teammate — and the future second driver of Stewart-Haas Racing – has yet to be named. Speculation has arisen that the spot may belong to Penske Racing's Ryan Newman.
NASCAR.com reported Monday that the Penske organization has officially announced the end of its relationship with Newman, effective at the end of this year.
Newman is currently ranked 16th in the Sprint Cup Standings, six spots behind Stewart who, despite a forgettable first half of 2008, is still in the chase.
Undoubtedly, Tony Stewart faces quite the challenge in his new role as co-owner of Stewart-Haas Racing.
1992 champion Bill Elliott took the same responsibility 228 races ago, and hasn't won since. When ESPN.com asked what obstacles Stewart faced, Elliot said, "You ain't got time for everything."
While past owner-drivers have often failed to succeed, one name with a lot of clout in the sport wouldn't be surprised if Stewart actually pulls it off.
"He is taking such a risk, but that's his style. A lot of people may look at that team and say the caliber isn't correct. It doesn't match up. Why would he do that? But he'll make it the way he wants it," Dale Earnhardt Jr. told EPSN.com
Stewart may be leaving a NASCAR powerhouse but in the next year, he along with his cohorts at Stewart-Haas Racing will look to build a powerhouse of their own.
"If I've learned anything from my time at Joe Gibbs Racing, it's that Joe Gibbs' saying of, 'You win with people,' is incredibly true." Stewart said in a statement.
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