July 9, 2008, 12:02 AM ET

CHARLOTTE, N.C. -- Two-time NASCAR champion Tony Stewart has been granted a release from the final year of his driving contract with Joe Gibbs Racing after 10 seasons with the team, sources close to Stewart confirmed for ESPN.com Tuesday night.

Stewart will formally announce his departure from the team Wednesday.

On Thursday at Chicagoland Speedway, Stewart will formally announce a move to Haas/CNC Racing as co-owner and driver, sources close to Stewart said.

Haas/CNC, which currently fields the Nos. 66 and 70 Chevrolets, will be renamed Stewart Haas Racing in 2009.

Sources close to both sides told ESPN.com the deal will make Stewart the highest-paid driver in NASCAR.

Sources also said the Stewart Haas cars will carry different numbers. The No. 14, made famous in IndyCar racing by Stewart's hero, A.J. Foyt, is available, but sources would neither confirm nor deny that as his choice.

Sources said Stewart will own a 50 percent stake in the organization, but his financial investment in attaining it was not disclosed.

As ESPN.com's David Newton initially reported, Office Depot will have a role in sponsoring Stewart's car.

Ryan Newman remains the lead candidate to drive Stewart Haas' second car, sources said, though no deal had yet been finalized Tuesday night.

Stewart Haas will continue to receive chassis and engines from Hendrick Motorsports. Haas/CNC's current drivers, Scott Riggs and Johnny Sauter, are ranked 36th and 44th, respectively, in the owner point standings.

If the team's performance fails to improve its points position during the second half of 2008, Stewart's champion's provisional will guarantee him a slot in the field for the first five races next season, presuming NASCAR doesn't change the rule.

During his tenure at JGR, which began in 1999, Stewart has recorded 32 victories, a pair of Sprint Cup championships and more than $68 million in winnings. Stewart has reinvested his wealth in racing. He owns multiple sprint car teams and a trio of racetracks, including Eldora Speedway.

I'm hoping that the 66 gets into the top 35. That way both Stewart-Haas cars will be in the field at the start of next year. I think Stewart and Newman will be a good fit and I'm ready to see Tony back in a Chevy.

In all the rumors flying around,, is there any word if Zippy is going to move with him ???? That would be kind of like Jr. without Jr.

That team will make a 180 degree turn around next season and having a pairing of Stewart and Newman will be a team to watch. Especially with Hendrick chassis and power!

I have had the opportunity to talk with Tony and hang out with him several times. When I first met him I was not a fan, I thought he was an arrogant, loud mouth who should know his role. After getting to know him, there is a passion that burns much hotter than most other drivers in NASCAR today. Everytime he steps in a racecar its to win and nothing else is good enough, ever! He wears his heart and emotions on his sleeve and isn't afraid to speak his mind, although somethimes even I cringe when he makes some comments. Probably the most important thing to Tony is being true to himself and never compromise or back down.

Tony will have a tough road to hoe with Haas/CNC but he will do whatever it takes to turn it around and don't be surprized to see Tony in Victory Lane in 2009.

One thing is for sure he is one hell of a wheelman! He'll drive the wheels off of anything you put him in.

Haas has a new facility and is putting in a wind tunnel in another location. Former local racer Robin Metdepenningen works for Haas.

The waitress' at the Huddle House think Trick is his brother.

Oh boy this news just made my day, WOOO HOOOO!

Yeah I'm a big Tony fan and that's that complaints I hear from people about him. I've been a fan since his USAC and IRL days. I haven't had the pleasure to meet him but I see it as that passion for the sport and I love that. To me it shows he cares about his performance and it matters to him. I get excited and upset myself about what happens and sometimes forget it's suppose to be fun at my level. So I can relate to his feelings when he tells it like he sees it and thats great. I agree sometimes I think maybe he should have kept that to himself but at least he is honest. I think it will be a challenge but if the alliance with Hendrick stays in tact I'm sure Smoke will turn that team around. Back in a Chevy that's awesome! Come on Home Depot bail on that toyota and go with Tony!