Dale Earnhardt Jr. to Drive for Hendrick Motorsports in 2008

We don't normally report on NASCAR in this forum, but some news impacts all of motor sports. The news that Dale Earnhardt Jr. has signed with Hendrick Motorsports is such a story.

If you haven't been following NASCAR this season, this is important because Dale Earnhardt Jr. failed to reach an agreement with his current team, founded by his late father. Dale Earnhardt Inc. (DEI) is owned and operated solely by Dale Earnhardt Sr.'s widow Teresa. Many fans felt that Dale Earnhardt created the team as a legacy for his son, however Earnhardt Sr. made it very clear in his will, signed only a short time before his death, that 100% ownership of the team would pass to Teresa.

Earnhardt Jr. was renegotiating his contract in this, his last season with DEI. As part of this negotiation, he requested 51% ownership in Dale Earnhardt Incorporated. It was reported that he had come to an agreement with the company, then suddenly reported later that the agreement fell apart before the signing.

Today Rick Hendrick, owner of Hendrick Motorsports, announced the Dale Earnhardt Jr. would race with his team. Hendrick Motorsports has multiple NASCAR championship trophies, most notably last year's trophy with Jimmie Johnson and four championships with Jeff Gordon.

Check out this report and video of the press conference with Dale Earnhardt Jr. from ESPN.com.