Roush Fenway Racing has scheduled a driver announcement for 3 p.m. ET Saturday.
Newman, who announced Saturday that he would not return to Richard Childress Racing, said last week that he felt he could compete at a high level. The 40-year-old driver has one win in the past five years driving for Childress but finished second in the Cup standings in 2014, the first year of the elimination-style format.
“Thirty-five years into my racing career, I feel like I’m as good as I’ve ever been, if not better,” Newman said Sept. 15. “I’ve been really close before and my ultimate goal is to win a Cup championship.
“I don’t want to quit. I don’t want to retire. I’ve got the blessing of my wife and kids to pursue my goal, and not everybody gets that. I look forward to pursuing that goal.”
Newman will join a Roush Fenway team looking for a spark after a 2018 season in which Ricky Stenhouse Jr. — its one full-time driver — failed to make the playoffs.
Bayne started the year as a full-time driver, but with partial-season sponsorship from AdvoCare, the team opted to put veteran Matt Kenseth into the car amid Bayne’s struggles. The No. 6 team is 25th in the team owner standings this year.
Motorsports website Frontstretch and the Sports Business Journal both reported the pending Roush Fenway announcement Friday afternoon and the reports were confirmed by ESPN.