Robert Yates Racing, Newman-Haas Racing to reveal plans to merge Friday

INDIANAPOLIS -- Mergers continue to be the name of the game in NASCAR Nextel Cup series racing this year.

Robert Yates Racing and Newman-Haas Racing will reveal on Friday its plans to merge, a source close to the situation confirmed to ESPN.com. A formal news conference has been set for that afternoon at Indianapolis Motor Speedway.

This announcement comes on the heels of the merger acquisition of Dale Earnhardt Inc., and Ginn Racing, as reported by ESPN.com on Tuesday.

Actor Paul Newman, an avid racer and long-time team owner in open-wheel racing, and partner Carl Haas own the team currently leading the Champ Car series with driver Sebastien Bourdais, a three-time champion in the series.

Yates last month at New Hampshire International said he had personally abandoned pursuit of a business partner, saying he had no debts and didn't need to get into a more pressure-packed situation answering to a partner's business demands. He did, however, say he would allow a head-hunting firm continue to look in that area.

Like Robert Yates Racing, Newman-Haas has had deep ties with Ford.

Angelique S. Chengelis is a contributor to ESPN's NASCAR coverage.