Penske takes sole control of NASCAR team.

Roger Penske's Penske Performance Inc. have taken sole control of the Penske Racing South Nextel Cup operation previously co-owned by Penske, driver Rusty Wallace and Wallace's business manager Don Miller.

Penske South, which runs Wallace's #2 Dodge team, Ryan Newman's #12 team and Travis Kvapil's #77 along with Jasper Motorsports, had been split 52-48 between Penske and Wallace, Miller and John Erickson.

Now, Roger Penske's group will take sole control of the #2 and the #12 while retaining a majority interest in the #77, which still has Jasper owner Doug Bawel as the listed owner.

"The transaction represents an opportunity to reward Rusty, Don and John for their many contributions to the growth and success of the company," said Roger Penske. "Penske Racing South is committed to its participation as a competitor in NASCAR. We enjoy the support of a dedicated and loyal group of sponsors who will be with us well into the future."

While the division between teammates Wallace and Newman is not thought to be behind Penske's sole purchase of the team, it is clear that the current situation, where neither the #2 or the #12 communicate or share data, will cease at the end of the season when Wallace retires.

"Our focus is to maximize all three cars' performance every week with winning the Nextel Cup Championship as our goal," concluded Penske.

"I value the opportunity to have been an owner at the Nextel Cup level and I am excited about contributing to the success of the team going forward, especially in my remaining races as a driver," said Wallace, who already owns a Busch Series team. "Penske Racing South has been a great part of my life."