RICHMOND, Va. -- Friday morning at Richmond International Raceway, NASCAR team co-owner Doug Yates said the Yates Newman Haas Lanigan Racing team had settled on its 2008 driver for the organization's No. 88 Ford.

By sunset Friday evening, team owner Yates had dropped the news that next season -- actually effective Dec. 1 of this year -- his solely owned Yates Racing operation would field two Sprint Cup Series Ford teams, with drivers David Gilliland, who currently drives the team's No. 38 Fusion and Travis Kvapil in the second car.

Yates said both the cars' numbers -- 38 and 88 -- and their owner points earned this season would remain with the two Yates Racing cars, but sponsors were not included in the announcement.

And sponsorship remains the biggest issue for the team, as current backer Masterfoods, through its M&M's and Snickers brands, might not return in 2008.

"Once again, we're looking and we've got some things that we feel pretty good about, but sponsorship is probably highest on the list [of priorities] right now," Yates said. "[Masterfoods] is still in the mix. The Mars family has been incredibly gracious to Robert Yates Racing and we'd love to have them here longer, and we don't know if that's going to happen or not.

"But we'd like to and hopefully we can present something to them where they're interested in us."

In making the announcement, Yates also repudiated the mid-summer partnership by which he and his father, Robert Yates, had joined Robert Yates Racing with the Champ Car World Series' Newman Haas Lanigan Racing operation; in effect replacing it with a more comprehensive support deal with Roush Fenway Racing.

"With this announcement it's clear that the letter of intent with Newman Haas Lanigan Racing will not proceed," said Doug Yates, who's the designated CEO of the new team. "We're thankful for their support and would welcome the opportunity to work with them in the future."

Finally, the elder Yates, who launched RYR in 1989 with a two-victory season with driver Davey Allison, after purchasing the team from Harry Ranier, announced he would retire as president of the company at the end of this season; ending a career in which his team won 57 Cup races, 48 poles and the 1999 championship with driver Dale Jarrett.

In his announcement Robert Yates said "certain facets of Robert Yates Racing are being transferred to a new company presided over by Doug Yates. Robert Yates Racing will continue with its joint ownership of Roush Yates Racing Engines as well as other ventures."

Friday morning Doug Yates had said the engineering and sponsorship goals of the new partnership were a long-term proposition. Robert Yates was more definitive by the evening.

"As many of you know I announced at the Brickyard, earlier this year, my decision to enter into a partnership with Newman Haas Lanigan Racing," Robert Yates said. "The goal of this partnership was to build a team to contend for the championship. The more I thought about it the more I realized instead this was the perfect opportunity for me to pass the torch to the next generation. (Continued)