The team had sponsorship to run the No. 62 of Michael Annett from Pilot Travel Centers, but it was unable to secure significant sponsorship to run the No. 66 of Steve Wallace.  Annett has been released to pursue other opportunities.

RWI will continue to operate, assisting Steve Wallace in his pursuit of other opportunities in his racing career. RWR will also maintain and manage sponsor relationships on Steve Wallace’s behalf.

Team owner Rusty Wallace said:

A lot of teams would have run with the level of funding we have now, but we want to ensure that our team has the resources necessary to compete and to improve our operations. I promised myself and my family long ago that if the team wasn’t funded to a level with which we were comfortable, we just wouldn’t run it. I’ve worked way too hard to put part of my life savings into a race team. So, we collectively decided to take a break, regroup and focus on the future. We’ll keep working hard on sponsorship programs for Steve (Wallace) and for future seasons. This also allows us to focus on the other aspects of our companies and our brand as well, whether it’s our car dealerships, new track design projects, licensing, personal services or even something new.

Not only is Bowyer trying to race his way into the Chase, he is also trying to race his way to a sponsor for the 2012 season. Bowyer has been sponsored by General Mills the last three seasons at RCR but at the end of this season General Mills is leaving. I interviewed Bowyer for my radio show in May and he expressed great concern about sponsorship saying “I’m very happy where I’m at. This is where I want to be. Things are tough right now and it doesn’t matter how well you’re running or what your name is.”

CBS Sports is reporting that 5-Hour Energy is talking with RCR and continues to be in the mix as a potential replacement for General Mills.

5-Hour Energy currently sponsors Steven Wallace in the NASCAR Nationwide Series. It hasn’t been discussed whether or not Wallace would replace Bowyer or if 5-Hour Energy would sponsor RCR’s No. 33 car.

It, however, is unlikely that Wallace would replace Bowyer. When you compare Bowyer’s accomplishments to Wallace’s, its clear who the winner is. Bowyer’s been running at the Sprint Cup level for RCR since his rookie season in 2006. He has earned four wins, three Chase appearances and a Nationwide Championship in 2008. Steve Wallace has been running full-time in Nationwide since 2007. In 181 races, Wallace has accumulated 34 top 10’s and four top 5 finishes racing for Rusty Wallace Racing. He is coming off of a career best finish of fourth last weekend at circuit Gilles Villeneuve.

Bowyer is a seasoned veteran in the Cup Series. Wallace’s lone start in the Cup Series came this year in the 2011 Daytona 500 finishing a respectable 20th.

At this point in time, however, a deal does not seem to be done. If a deal can be completed, Wallace will take the owner’s points from the No. 77, Greg Wallace, vice president of Rusty Wallace Racing — Steve Wallace’s current Nationwide team, said.

Greg Wallace said:

In the past, Rusty has expressed a well-known interest in having Steve compete in this year’s Daytona 500, either with RWR or an established Cup team. Various opportunities have arisen for that to happen, but as of now, nothing has been completed.

Update: Rusty Wallace Racing announced that Steve Wallace will make his Sprint Cup debut in the 2011 Daytona 500, driving RWR’s No. 77 5-Hour Enegry Camry. Larry Carter will serve as crew chief for Wallace during the race.

Wallace said:

Starting my first Daytona 500 is definitely going to be the most exciting day of my career-make that my life-so far. It’s something that every kid wanting to be a racer-including me-dreams of doing one day. It’s the some of the best drivers in the world competing in the biggest race in the world. I really have to thank 5-Hour Energy and Aspen Dental for making this possible. As far as the race, my goals are simple: to stay out of trouble, earn all the respect I can from the other guys and make sure the 5-Hour Energy Toyota is there at the end of the race. The way restrictor plate racing goes, if we can do that, there’s no telling what can happen.  

Rusty Wallace added:

When you’re a young driver coming up, you dream about racing in the Daytona 500 and now Steve’s going to get the opportunity to do it. He’s grown by leaps and bounds as a driver in the Nationwide Series over the last few years and we think he’s ready for this opportunity. We’ve been looking at this race as an opportunity for a while, because I really believe that the new pavement at Daytona is going to be a great equalizer among the teams. The cars will have a ton of grip and it’s going to make handling a much smaller part of the equation.

Prior to joining RWR, Randolph served as crew chief for Bobby Labonte and TRG Motorsports’ No. 71 Sprint Cup team.  Before that, he served as crew chief for Richard Childress Racing’s No. 29 N’Wide team, leading them to two victories in 2009. Randolph has also had stints at Earnhardt-Ganassi Racing and Petty Enterprises.

Keselowski was treated in the infield car center for excessive carbon monoxide levels. His level was said to be 13. The maximum allowable level to compete is 5. He underwent intense oxygen treatment, which brought his levels down right before the command to start engines.

Top 5: Keselowski, Logano, Kevin Harvick, Jason Keller, and John Borneman III.

Clint Bowyer, Tony Raines, Paul Menard, Brian Vickers, and Brian Scott finished sixth through 10th, respectively.

Notables: Kenny Wallace (11th), Scott Wimmer (12th), Jamie McMurray (14th), Justin Allgaier (15th), Jeff Green (16th), Chrissy Wallace (24th), Steve Arpin (26th), Brendan Gaughan (27th), Ricky Stenhouse Jr (29th), Colin Braun (32nd), Kyle Busch (34th), Carl Edwards (35th), Joe Nemechek (36th), Steve Wallace (39th), Reed Sorenson (40th), Jason Leffler (41st), Mike Wallace (42nd), Michael Annett (43rd).

Carl Edwards was running in the lead pack when Ricky Stenhouse Jr got into him in the tri-oval, sending him spinning through the grass. Edwards spun up the track into Mike Wallace, who hit Reed Sorenson, sending him into the wall. Steve Wallace, Brendan Gaughan, Michael Annett, Jason Leffler, James Buescher, and Clint Bowyer were involved. 

Edwards made repairs and got back in the race. Later, however, he had a tire go down and he spun as the field passed him. He did not hit anything. He finished 35th.

Around lap 113, Colin Braun and Steve Arpin got together in the tri-oval which resulted in Braun hitting the wall and Arpin spinning to the inside. Several cars were involved including Kyle Busch.

On the green white checkered finish, Kevin Harvick led the field to the green with Jamie McMurray in second. On the final lap, McMurray with a push from Brian Vickers battled Harvick who was getting pushed by Clint Bowyer. Brad Keselowski moved to the outside making it three-wide, with a push from Joey Logano.

Bowyer ducked to the inside of Harvick for a second, but got right back in line. The move, killed his momentum and slowed Harvick a bit. Keselowski and Logano drove to the lead on the outside, with McMurray and Vickers in the middle.

As they entered turn 3, McMurray tried to dive in line between Harvick and Bowyer but there wasn’t enough room. He made contact with Bowyer and then spun in front of the field. McMurray spun into Vickers and Scott Wimmer. Wimmer hit Paul Menard who hit Dennis Setzer, sending him hard into the wall and the catchfence. His car climbed the wall. The front of the car caught the catchfence and spun on the top of the wall and burst into flames. Justin Allgaier then slid up the track and hit Setzer’s car. Brendan Gaughan also slid into the two cars.

The crash ended the race, as the leader had already taken the white flag. Keselowski earned the win. Everyone walked away from the wreck.

Top 5: Busch, Joey Logano, Reed Sorenson, Brad Keselowski, and Kevin Harvick.

Jamie McMurray, Greg Biffle, David Reutimann, Steve Wallace and Paul Menard rounded out the top 10. Wallace was the only driver in the top 10 who did not participate in the Sprint Cup Series race earlier in the day.

Notables: Justin Allgaier (11th), Jason Leffler (12th), Colin Braun (13th), Mike Bliss (20th), Brendan Gaughan (21st), Tony Raines (22nd), Michael McDowell (26th), Kenny Wallace (27th), Carl Edwards (30th), Clint Bowyer (35th), and David Gilliland (41st).

Carl Edwards was running in the top 10 when he came down pit road for a stop. When the team dropped the jack, he attempted to take off and nothing happened. He coasted a few pit stalls down pit road before backing up. He broke an axle. The team had to move behind the wall to fix it. He finished 30th.

Clint Bowyer and Kevin Harvick got together, damaging both cars. Harvick had a tire rub and Bowyer had some damage. Eventually, Bowyer’s tire let go and he hit the wall. Harvick was able to continue on. Bowyer finished 35th while Harvick finished 5th.

Waltrip, who is running a limited Sprint Cup schedule next season with his team, Michael Waltrip Racing, may not want to run a full truck schedule next season. Waltrip stepped back after signing Martin Truex Jr to replace him in a Napa Toyota next season.

Waltrip was quoted as saying:

[Billy Ballew is] working on sponsorship, and if it comes through, there’s a pretty good chance I’ll run a couple races for him.

 Kyle Busch drove a BBM truck last season part-time, and he won seven races in those trucks. Last month, Busch announced plans to start his own truck team.

Meanwhile, Ballew is looking to find drivers to fill his two open seats. He is also looking for sponsorship for Waltrip and a second driver, Aric Almirola. He’s also said that he is considering Steve Wallace for a part-time truck team.

Ballew expects an announcement on Waltrip next week.

Keselowski had run-ins with Carl Edwards and Mike Bliss, but neither were particularly angry with Keselowski. They both said, however, that they would race him as aggressively in the future.

Top 5: Keselowski, Busch, Jason Leffler, Mike Bliss, and Brendan Gaughan.

Carl Edwards, Scott Wimmer, David Reutimann, Stephen Leicht, and Landon Cassill finished sixth through 10th, respectively.

Notables: Matt Kenseth (11th), Kenny Wallace (13th), Justin Allgiaer (19th), and Steve Wallace (20th).

In the closing laps of the race, Matt Kenseth and Steve Wallace got together. Wallace spun. After the race, Wallace showed Kenseth his displeasure by banging into him. Then, on pit road, the two exchanged words.

Points-leader Kyle Busch finished second and opened up a 172-point lead in the standings.

Top 5: Bowyer, Busch, Carl Edwards, Joey Logano, and Kasey Kahne.

Brad Keselowski, Brian Vickers, Justin Allgaier, David Ragan and Kevin Harvick rounded out the top 10.

Notables: Michael Waltrip (11th), Steve Wallace (12th), Matt Kenseth (14th), Kenny Wallace (16th), and Dale Earnhardt Jr (40th).

Earnhardt Jr was taking out in a lap 58 crash that sent Steve Wallace spinning into his car. Jr said:

Everybody had blistered their tires on the last run, and I was going to try and sit back and save my tires. Guys got together, and it was real, real tight off of [Turn 2]. Somebody had to check up, and it caused the crash. It was bound to happen — everybody’s car was driving about the same.