Robert Yates to retire at end of season

Yates will leave his position to his son Doug, who will be the president of a new company called Yates Racing. Robert Yates will continue to co-own Roush Yates Racing Engines, suppliers of Ford units to the Roush Fenway team, as well as other joint ventures.

"As many of you know I announced at the Brickyard, earlier this year, my decision to enter into a partnership with Newman/Haas/Lanigan Racing", said Robert Yates. "The goal of this partnership was to build a team to contend for the championship.

"The more I thought about it the more I realized instead this was the perfect opportunity for me to pass the torch to the next generation. 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."

The 64-year-old, who is regarded as one of the sport's top engine builders, started his career in 1968 and then formed RYR in 1989. Over an 18-year period as team owner he has won 57 races, 48 pole positions and the 1999 Nextel Cup title with Dale Jarrett.

The team has recently struggled to compete at the front of the field, failing to win a race for the past two seasons, although his cars driven by David Gilliland and veteran Ricky Rudd swept the front row at the Daytona 500 this year.

"I'm closing this chapter of my life," Yates added. "And I cannot wait to see what is in store for me next. Carolyn and I look forward to watching Doug build Yates Racing into a championship caliber team."