Phoenix Racing owner James Finch said:

Tag Heuer wanted to sponsor a race, and they’ve got some interaction with (Richard) Childress and them. They wanted to put Dillon in my car, and I said that’s fine with me.

Regan Smith finished seventh in the season-opening Daytona 500 for Phoenix Racing, and AJ Allmendinger followed that up with an 11th-place finish in the Subway Fresh Fit 500 at Phoenix International Raceway.

Finch attributed the team’s solid runs to the fact that the playing field is level with the new Generation 6 car. He said:

To everybody it’s all brand new, but the big teams with all the money and technology will start taking over here before long. The car has more downforce to it, and they took some lead out of it. It’s lighter, and there’s more downforce. That makes it a really nice race car. I’ve got my third driver in a third race, and if we have a really good run there that will really speak volumes [about the team].

Finch’s goal for Dillon is to finish the race in the top 15, and finish the race.

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According to Finch, the team has secured sponsorship for both Daytona races in February.

Regan Smith, who has committed to run in the Nationwide Series full time for JR Motorsports, will drive Phoenix Racing’s Sprint Cup entry throughout the season. But, because of his commitment to JRM, Phoenix will look to another driver to run some races. That driver is said to be AJ Allmendinger.

Allmendinger was suspended for violating NASCAR’s substance abuse policy last season, but was later reinstated.

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Tony Raines will take over driving duties in TBR’s No. 36 Chevy, which was to be driven by Blaney.

Team owner Tommy Baldwin said:

I understand the position James was put in this week. As an owner of a small team, I wanted to help him out. We talked and thought that this lineup would be best for both of our teams.

Busch was suspended following an incident with Sporting News reporter Bob Pockrass after the 5-Hour Energy 200 at Dover International Speedway.

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Finch said:

I told Kurt, “I won’t fire you, and you won’t quit. We’ll do whatever it takes — roll in the mud if we have to to win. I’ve worked construction all my life just so I could race and have a good time. I’ve worked with iron workers, I worked with construction workers, so working with a driver is not going to be a problem. … All we want to do is win.”

Busch brings with him championship experience, as well as 24 career Sprint Cup wins. Busch has also qualified for the Chase six times.

Busch parted ways with Penske Racing immediately following the season, after a series of high profile outbursts, which included a video of him berating Dr. Jerry Punch that went viral on YouTube.

Busch was said to be in the running for the No. 43 car of Richard Petty Motorsports, in an effort to keep sponsor Best Buy. Best Buy, however, moved its sponsorship to Roush Fenway Racing and drivers Matt Kenseth and Carl Edwards. AJ Allmendinger left RPM to join Penske, and the No. 22 Busch vacated.

Update: Jamie Finch commented on the story that his team would shut down at the end of the season. Finch said:

I have not talked to Rick Hendrick about putting Kasey Kahne in my car, and furthermore I haven’t talked to Kasey! Obviously I would l like to provide the car for them next year, who wouldn’t? I also have had no opportunities to sell my team to Mark Martin.  I haven’t talked with Mike Mulhern, and I have no intentions of closing Phoenix Racing. I am definitely looking for sponsorship for my Cup team and Nationwide cars. Times are tough, but we are moving forward and will entertain all sponsorship opportunities.

He said:

I’d like to do it, but I have not been contacted by Rick or anyone else at Hendrick Motorsports about Kasey Kahne. We are fielding a car for Jan Magnussen this weekend at Sonoma with sponsorship from Hendrickcars.com. But I won’t be there.

Under current NASCAR rules, HMS cannot add a car to its stable because it is at the four-team cap. With Mark Martin having one more year on his contract with HMS, Hendrick could not add Kahne to his team this year, despite Kahne’s contract with Richard Petty Motorsports ending this season.

Originally, there were rumors that Stewart Hass Racing, an HMS satellite team, would earn Kahne’s driving services for one year, until the No. 5 driven by Martin became available. Martin’s contract expires at the end of next season. But, sponsorship difficulties are said to be preventing Kahne from signing on with SHR.

That leaves Phoenix Racing, another HMS satellite team, as the main candidate for Kahne’s services. Under the deal, Kahne would compete full time in the No. 09, with engines and chassis coming from HMS. Phoenix would get Kahne, a winning driver, and would most likely be able to attract a full time sponsor with Kahne behind the wheel. That is why this deal seems to make the most sense, with SHR out of the equation.

There are also rumors that Martin might buy Phoenix Racing, which has been rumored to be for sale. If that happens, he would purchase the team after the 2011 season.

Earlier this month, team owner Richard Childress said that he hoped to have Harvick re-signed by the end of May. Harvick, however, sidestepped a question about contract talks during a media session at Dover International Speedway.

Last July, it was reported that Harvick asked to be let out of his RCR contract. At that time, rumors were circulating that Harvick wanted to take Shell/Pennzoil with him to Stewart Haas Racing in a third car.

But, last month Kasey Kahne signed with Hendrick Motorsports, despite HMS having a full stable of drivers signed through 2011. Rumors began circulating that Kahne would spend 2011 in a HMS-backed car due to the lack of an open seat at HMS. That limits Kahne’s options to Stewart Haas Racing, Phoenix Racing, and Furniture Row Racing.

With PR being put up for sale by team owner James Finch, and FRW not even being mentioned as an option, many believe Kahne will end up at SHR for one year, despite representatives for SHR saying that they have not had any discussions with HMS reps about Kahne.

That coupled with SHR’s recent struggles may have removed SHR from the Harvick running, as Tony Stewart, owner of SHR, is not likely to be thinking about expansion to four teams when his current two-car operation is struggling.

Further fueling speculation that Harvick would leave RCR was the news that Shell/Pennzoil decided to leave the team and head to Penske Racing and driver Kurt Busch.

Still, the news that Harvick is likely to have signed an extension with RCR is not very surprising. Early this year, I wrote an article indicating the four teams that realistically had a shot of landing Kahne — I did not include HMS because they had a full stable through the end of next year.

From that article, Michael Waltrip Racing’s No. 00, Earnhardt Ganassi Racing’s No. 1, Joe Gibbs Racing’s No. 11, Richard Childress Racing’s No. 29, Front Row Motorsports’ No. 34, Tommy Baldwin Racing’s No. 36, TRG Motorsports’ No. 71, Red Bull Racing’s No. 82, and Robert Yates Racing/Richard Petty Motorsports’ No. 98 could have open seats at the end of this season.

The Nos. 00, 1, and 11 are more than likely going to re-sign their current drivers. MWR is currently working on an extension for David Reutimann. It would be hard to imagine Earnhardt Ganassi Racing or Joe Gibbs Racing would release Jamie McMurray or Denny Hamlin, respectively, given the way both of them are running.

That leaves the Nos. 34, 36, 71, 82, and 98 as potential open seats. The No. 98 isn’t likely to lose Paul Menard as a driver because if they cut ties with him, it’s extremely likely that his sponsor Menards, which is owned by his father, will leave with him. That would effectively end that team, if another sponsor could be found.   

Assuming Scott Speed is out of the No. 82 — and there’s nothing to indicate that this is the case — that would have been the most competitive team with an available seat. But, considering the No. 82 is a Toyota, it’s unlikely Harvick would have gone there because of his interests in Chevy with his Nationwide Series and Camping World Truck Series teams.

That leaves the relatively uncompetitive teams of the Nos. 34, 36, and 71. If for no other reason, it is highly unlikely Harvick would have even considered these rides as they would be a step down for him. Those teams are working on shoestring budgets and are in building mode. They are not yet close enough to competitive to be able to attract a driver of Harvick’s caliber.

Had he been interesting in going the same route as Tony Stewart, buying an interest in an underfunded team and turning it into a contender, perhaps he would have considered these teams. But that doesn’t seem to be the case.

At the end of the day, Harvick looked at the available seats out there and determined that no situation — including a brand new team — would give him as much of a chance to win as RCR. So, if the reports are true and Harvick did in fact sign an extension with RCR, it comes as no surprise.