Joe Gibbs Racing will release Tony Stewart from his contract at the end of the season, ending an incredibly successful decade in which they won two championships and turned the organization into one of NASCAR’s best.
“While this moment is bittersweet, we’re parting on good terms and we know that each of us has benefited greatly from the other,” team owner J.D. Gibbs said in a statement on Wednesday.
Stewart’s departure opens the door for him to buy a NASCAR team, and he called a news conference yesterday at Chicagoland Speedway to discuss his future plans. He’s expected to announce he’s purchased majority ownership in the fledgling Haas-CNC two-car team.
Stewart joined JGR in a developmental role in 1997 while he was still competing in the IndyCar Series, which he won. He had an immediate impact on the Cup Series, setting a rookie record with three victories in 1999 while winning rookie of the year honors. It began a 10-year run that’s seen Stewart win at least two events a season.
With 32 career victories, Cup championships in 2002 and 2005 and more than US$68 million in winnings, it’s been one of the most steady and successful partnerships in NASCAR history. JGR wanted Stewart to sign an extension beyond his current contract — which expires at the end of next year — and run his entire career in the No. 20.
But the 37-year-old Stewart instead tested free agency and was tantalized by the idea of owning his own race team. By becoming an owner, Stewart was intrigued in securing a spot in NASCAR long after he finished driving.
It’s been a rocky season for Stewart, who is stuck in a 32-race winless streak dating back to last August, though he’s 12th in the standings, clinging to the final spot in the Chase for the championship field.
Stewart appears headed to a driver-owner role at Haas, which has been run by general manager Joe Custer since owner Gene Haas began serving a two-year prison sentence for tax evasion in January.
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