Team owner Steve Meehan said:

We feel incredibly fortunate to have David’s knowledge and experience to help launch our 2012 program and hopefully guide the team into the future.

 Additionally, GCMI’s will team up with Dave Jacombs Racing  to from GC Motorsports Canada, which will field two teams in NASCAR’s Canadia Tire Series in 2012. Andrew Ranger will drive one of those entries. He will also drive the Nationwide Series car in select races this season, including the series lone Canadian race, the Napa Auto Parts 200 at Circuit Gilles Villeneuve.  

The team expects to have more announcements on drivers and sponsorship in the coming weeks.

As a result of the rumored deal, Dave Blaney will need to qualify for the Daytona 500 on speed or he will need to race his way in the race through one of the duels.

David Reutimann is rumored to possibly run the No. 10 in the races Patrick does not enter. Patrick will drive SHR machines in her events, while Reutimann will drive TBR equipment in his events in the No. 10.

TBR will reportedly receive technical and pit crew support from SHR as a part of the deal.

After this deal was reported, a posting on TBR’s Facebook page stated:

Not everything you read is true my friends. I was born at night but not last night.

TBR followed that posting up with another:

Nobody has the correct information or is posting the correct information stay tuned we hope to get the correct story out soon.

Update: FoxSports.com is reporting that TBR has reached a deal with SHR.  Under the terms of the agreement, TBR will transfer the points from its No. 36 entry, which finished in the top 35 in owner’s points and therefore is guaranteed a starting spot in the first five Sprint Cup events in 2012, to the No. 10 GoDaddy.com Chevy, which will be driven by Danica Patrick in 10 races.

In the remaining 26 races, David Reutimann will drive the car.

Team owner Tommy Baldwin will have a hands-on presence with the No. 10 and will work closely with Greg Zipadelli, SHR’s competition director.

HMR plans to attempt the full schedule, except the Daytona 500, with their no. 52 car regardless of financial backing.

Team co-owner Jimmy Means said:

We’re not relying on sponsorship to determine where we go or not. We’re just trying to get all the pieces together and have some different equipment to have a legitimate chance of making the races. Sponsorship is not really an issue at this time, but [we're] looking for it.

The team wants to run complete races instead of starting and parking, but Means admitted that the team would probably need to do that to get their program started.

The team has narrowed its list of drivers, but no announcement has been made. They plan to announce a driver soon.

The team also plans to field the No. 52 Nationwide Series car full time.

Annett joins RPM from Rusty Wallace Inc, which suspended operations in the off-season. Annett posted 13 top-10 finishes in 105 Nationwide Series starts and drove to a ninth-place finish in the championship points standings last season.

He said:

They say that when one door closes, another door opens, and that is most definitely true. We were left scrambling a bit because of the situation with RWI and were unsure what the future held, but I couldn’t be happier with the way things have turned out. To have the chance to race for Richard Petty and to be under the RPM umbrella is amazing. It has all come together really quickly, but together with Pilot Flying J and Ford, this is the best opportunity I have ever had to race a Nationwide Series car. There’s a lot to be done before we get to Daytona in a few weeks and I can’t wait to dive in and get started.

Team owner Richard Petty said:

We are looking forward to getting back into the Nationwide Series full time and seeing what Michael Annett can do in an RPM Ford Mustang. Michael has improved every season he has raced in the Nationwide Series and has the dedication and drive to be a success.

Jeb Burton will make his CWTS debut in the Kroger 250 at Martinsville Speedway at the end of March.

Trip Bruce, who worked with Burton during his days driving the No. 22 Bill Davis Racing Sprint Cup car, will serve as crew chief for the No. 27. Burton has won five career Sprint Cup races including the 2002 Daytona 500, and four Nationwide Series wins.

The team plans to run the full races it enters, instead of starting and parking.

Speed said:

You can make more money doing (start-and-parks), for sure, but that’s not what Bob wants to do. We want to be professional about it. We’re going to look good, we’re going to have all of our stuff right and represent our brand and what we’re doing the right way and not just be another start-and-park team.

The team will field cars and engines purchased from Roush Fenway Racing. They do not plan to buy a superspeedway car, but they will buy a road course car because they feel they have a better chance at doing well in races that are more within their control.

The current plan is for this to be a one-off deal.

Roger Penske said:

We are excited to grow and develop our long-standing partnership with Snap-on as they expand our relationship to become a primary sponsor on the No. 22 Dodge for several Nationwide Series races this season. Snap-on has been a terrific partner with our organization now for 30 years and we look forward to celebrating this milestone with a great season together in 2012.

Snap-on will continue to be an associate sponsor on the team’s Sprint Cup and Nationwide Series entries, as well as the team’s IndyCar teams.

Sadler will also drive for Kevin Harvick Inc/RCR in the Nationwide Series in the No. 2 Chevy.

Brendan Gaughan will take over driving duties of the No. 33 Cup Chevy the following week at Phoenix International Raceway, and will drive until the fifth race of the season at Auto Club Speedway.

The No. 33 is locked into the first five races of 2012 because the team finished 13th in points last season, while Clint Bowyer was the driver. Bowyer left in the offseason to join Michael Waltrip Racing.

Veteran crew chief Gil Martin will be atop the pit box for Gaughan.

Gaughan said:

RCR has top-notch equipment and teamed me with a winning crew chief in Gil Martin. Everyone deserves a second chance and I am ecstatic that my second chance in the Sprint Cup Series is in the #33 Chevrolet with RCR.

Gaughan will also drive 18 races for RCR in the Nationwide and Camping World Truck Series with sponsorship from South Point.

Elliott Sadler will drive the No. 33 Cup Chevy in the season-opening Daytona 500 at Daytona International Speedway.