Newman had only signed a one-year deal that expires at the end of this season. After officially announcing Kevin Harvick's move to the organization next year, Stewart said SHR was not in position to run a fourth Cup team.
"We're not ready to expand to a fourth team," said Stewart. "Unfortunately, this will be the last year we have Ryan."
Danica Patrick also drives fulltime for SHR.
"I believe in him 100 percent," Stewart said of Newman. "I truly wish we were able to facilitate four teams."
Newman said he’s “had a good run” at SHR.
“I look forward to the opportunity to make the Chase this season and win the championship. I do not know what my future holds,” Newman said.
“There are organizations out there that are capable of winning races and championships and it is obvious there are seats that could potentially become available.”