Yates to retire, hand team to son at end of season (cont'd)

"I don't know how to express my gratitude to the Newman Haas Lanigan group for their support and belief we could get to the top. I'm closing this chapter of my life, and I cannot wait to see what is in store for me next. Carolyn [Yates, his wife] and I look forward to watching Doug build Yates Racing into a championship caliber team."

Robert's son Doug is excited about the opportunity to carry on his father's team.

"I am very excited to carry the Yates Racing heritage into the future," he said. "I believe I have the experience and understanding of the competition and business requirements that are necessary to be an effective team owner.

"My first order of business is to revamp our infrastructure into one that can field race teams that can compete successfully with the pre-eminent teams in the sport. I personally think the best business and competitive model in the sport to emulate for long-term success is that of Jack Roush and Roush Fenway Racing.

"By the 2008 Daytona 500, Yates Racing wants to be in an elevated position where we are competing successfully against any race team in the sport. With David, Travis and Roush Fenway Racing, we will continue to work on finding the right sponsor partners to join our programs."

The announcement concluded by saying "neither Jack Roush, Roush Fenway Racing, John Henry or Fenway Sports Group will have any ownership interest in Yates Racing."

The announcement was issued by e-mail just before 7:30 p.m. ET, but driver Kenny Wallace, who was in the Yates No. 88 hauler at the time watching the end of Bud Pole Qualifying, apparently didn't know about it.

Wallace said he's scheduled to test the No. 88 Car of Tomorrow at Talladega Superspeedway on Monday and Tuesday of next week, but he didn't know about his status for next weekend at New Hampshire, if Rudd is unable to go.

Kvapil, who currently drives a Craftsman Truck Series entry for Roush Fenway Racing, would be available as the Truck Series also races at New Hampshire next weekend.

Robert Yates Racing also fields the No. 90 Ford Fusion driven by Stephen Leicht in the Busch Series, but that car's future was not addressed in Yates' release.

Dan Davis, director, Ford Racing Technology said he understood the Yates family's decision to go with a more familiar partner.

"Certainly, we're disappointed that the partnership with Newman Haas Lanigan did not proceed as was originally planned, but the door is still open for joint efforts in the future," Davis said. "Philosophically, the partnership with Newman Haas Lanigan had merit, however there's no question that partnering with Roush Fenway Racing will provide more immediate technical and operating support, leading to improved on-track performance.

"Bringing these programs together, much like the engine program will have near and long-term operational benefits, and we will realize further efficiencies in our overall Ford NASCAR program."