After making the offer at the 2012 Sprint Cup Series award banquet, Penske said:
If he wants to do the double, I’d put him in it. We’ve talked about it before. I guess I made it official tonight.
But, Stewart decided to pass on the offer. He said:
As much as I would like to do it, we just don’t have the time to do it proper. The IRL is so competitive now, you’re not going to just show up like drivers used to do in the past and be competitive. These guys don’t leave anything on the table there. You’re not going to stroll into the Indy 500 with these guys who race every week and be as competitive as they are. It was a very humbling comment and offer that he made, for sure.
I’m very humbled by the fact that he offered it to us. It’s a great opportunity, but it’s very hard when you’re running three Cup teams right now and the obligations that we have making sure that we’re doing the right things, we have a lot of people that depend on us. And, it’s kind of like being at Thanksgiving dinner. My plate is finally full. I don’t know if I can add anymore to what I have right now.
Stewart did, however, leave the door open to doing it in the future, if the offer still stands.