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NASCAR Sprint-Cup Series
CUP: Stewart To Be Co-Owner
Tony Stewart said that he will become co-owner of Haas-CNC Racing, which will be renamed Stewart Haas Racing..
Tom Jensen  |  Posted July 10, 2008   Joliet, Ill.
Tony Stewart announced during a press conference that he will become part owner and full time driver for the new Stewart Haas Racing in 2009. (Jason Smith/Getty Images Photo)
Joe Custer, GM for Haas Racing and Tony Stewart make the announcement of the newly formed Stewart Haas Racing. (Jason Smith/Getty Images Photo)

Tony Stewart said Thursday that he will become the new co-owner of Haas-CNC Racing, which will be renamed Stewart Haas Racing.

In a live press conference from Chicagoland Speedway, Stewart confirmed what had been rumored since April: That he would leave the powerhouse Joe Gibbs Racing organization for an ownership stake in Haas-CNC, a perennially struggling team which has both of its cars outside the top 35 in NASCAR owner points.

“Obviously, this is a huge day for me,” Stewart said. “This a huge turning point in my career, but I’m very proud today to be here and announce that myself and … the Haas-CNC team have merged and now formed Stewart Haas Racing. That’s where I’ll be next year and hopefully the rest of my life.”

So why is Stewart moving from the championship-caliber JGR squad, to a team who has never had a driver finish higher than 23rd in points, never won a Sprint Cup race and whose founder, Gene Haas, is serving a two-year federal prison sentence after being convicted last November of defrauding the government of more than $34 million in taxes.

There are several reasons: Stewart’s long and storied relationship with Chevrolet, his entrepreneurial side and the fact that at age 37, he’s no longer a youngster in racing terms.

But the big draw, clearly is team ownership. Stewart already owns race teams in USAC and the World of Outlaws open-wheel series, as well as Eldora Speedway in Rossburg, Ohio, and interests in several other tracks. He likes being an owner and owning a Cup team is the grand prize in American racing.

“The opportunity to have ownership in a race team was something that I think really was, in my opinion, a once-in-a-lifetime opportunity,” Stewart said. “I don’t think an offer like this has ever been made in this series to a driver.”

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