NASCAR: Tommy Baldwin Racing sells charter to Leavine

Tommy Baldwin Racing has announced that Homestead will mark the end of the team's full-time operations in NASCAR. Leavine Racing has secured the team's charter.

Regan Smith, driver of the No. 7 Chevy, has one top-five in 34 races this season for TBR, which was formed by veteran Sprint Cup crew chief Tommy Baldwin in 2009 following the departure of Bill Davis Racing, for whom Baldwin served as crew chief. The organization, which has not won a race, sold the assets of the No. 36 team before the 2015 season.

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"We felt that it's time for a new chapter in our lives and we have sold our charter to a great group of people who will continue to guide our vision," Baldwin said in a statement. "For the past eight years we've shown up at every race, worked hard to compete at the top level and bring value to our sponsors. I feel confident that we are moving on having accomplished that. There have been many teams like ours that have come and gone. I'm proud that we have been able to sustain ourselves from the very beginning.

Baldwin admitted the team's future is up in the air.

"So what's next? Well, we're not 100% sure," he wrote. "We are going to work hard to get the best possible results in Miami, take a little family time and then figure out the rest."

Michael McDowell has run 30 Sprint Cup races this season for Leavine, which is in need of a charter because its one-year partnership with Circle Sport Racing comes to an end this weekend at Homestead. Ty Dillon has 10 Sprint Cup starts in the Circle Sport Leavine Family Racing No. 95 entry. The purchase price of the charter is not known.

"Leavine Family Racing is committed to continued growth on and off the race track," owner Bob Leavine said. "The charter is a meaningful step forward for our team and provides us further stability as we look towards success in 2017 and beyond. We are confident that the purchase of the charter and continued improvement on the track will lead to increased revenue opportunities."