Jarrett to retire from racing in 2008

The 50-year-old will compete in the first five points races of next season and two non-points events before hanging his helmet. He will leave his drive in the No. 44 Michael Waltrip Racing Toyota to current teammate David Reutimann.

"This is obviously a decision that required a lot of thought and consideration and it is one of the hardest things I've had to do," said Jarrett, who will be making his final Cup start in the Sprint All-Star Challenge on May 17th 2008 at Lowe's Motor Speedway.

"The desire to compete is the reason why I have continued as a driver in the Nextel Cup Series. But I've come to the decision to get out of the race-car and while I'll miss being a driver, I am looking forward to the next phase of my life and career."

The announcement of Jarrett's departure was done jointly with his primary sponsor UPS, which has been linked to him since 2001.

But although Jarrett will leave the team, the shipping company will continue to sponsor Michael Waltrip Racing in 2008. They will also continue his relationship with Jarrett off the track.

Jarrett started his Nextel Cup career in 1984 racing at Martinsville Speedway but made his first full season in 1988 driving for the legendary Cale Yarborough.

His most successful years however came when he joined Robert Yates Racing from 1995 to 2006, taking the title and 29 wins, including two of his three Daytona 500 victories.