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Penske Racing has decided it will not re-sign Ryan Newman, who has been with the team since 2000.
 Newman
"It's what is best for him and best for us," a Penske Racing spokesman said. "We're going to focus on getting him in the Chase and then move on."
There has been considerable speculation that Newman will join fellow Hoosier Tony Stewart at the newly formed Stewart-Haas Racing team next season. Sources have told ESPN.com that a deal is close to being completed and could be announced in two weeks at Indianapolis.
Newman, driver of the No. 12 Alltel Dodge Charger, said last month he would not re-sign with Penske unless the performance of his team improved significantly. He met with Penske, who has had medical issues from a kidney procedure, following the race at Daytona earlier this month.
"I appreciate Penske Racing and all they have done for me, but more importantly, I appreciate their friendship and what they have done for my career," Newman said in a statement Monday. "I would also like to thank all of the sponsors, especially Alltel, who have supported me."
Newman has one win and seven top-10 finishes this year and is currently 16th in the points standings through 19 races.
I wish Earl still did Eldora's track prep.
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