CHARLOTTE - Joe Gibbs Racing will release Tony Stewart from his contract at the end of the season, ending an incredibly successful decade in which they won two championships and turned the organization into one of NASCAR’s best.

Stewart was expected to address JGR employees today, with an official announcement planned later in the day. In a release obtained by the Associated Press, team president J.D. Gibbs called the parting “bittersweet.”

Stewart’s departure opens the door for him to buy a NASCAR team. He’s had an offer since April to purchase the fledgling Haas-CNC two-car team.

Stewart’s contract runs through the 2009 season, but he was reluctant to commit to the extension Gibbs officials have been pushing for since last summer. He instead explored free agency, where numerous options were presented to Stewart ranging from ownership to seats driving for other top teams.

Mike Arning, a spokesman for Stewart, said an announcement concerning Stewart’s future would be made today. ESPN.com reported late last night he would be released from his contract.

"We’re just going to look at everything out there," Stewart said in April in announcing he’d test the market. "A wise person once told me it doesn’t cost a dime to listen, so right now we’re all ears."

While exploring his options, Stewart was most intrigued in potential ownership opportunities — and he’s had an offer on the table since April to purchase the fledgling two-car team of Haas-CNC Racing. By owning a team, Stewart believes he could ensure a spot for himself in NASCAR long after his driving days.

-- The Associated Press