|Kurt Busch will be looking for a new ride (Getty)|
Penske Racing announced this morning that the team and Busch had reached a "mutual agreement" to end their relationship, effective immediately. The team said it will evaluate its options for the No. 22 car.
The split was first reported by the Observer on Sunday.
Just over a week ago NASCAR fined Busch $50,000 for the use of an obscene gesture and a profanity-laced tirade directed toward a media member during the Cup series finale at Homestead-Miami Speedway.
The incident with ESPN reporter Dr. Jerry Punch, which took place in the garage after Busch's car broke its transmission, was caught on video and posted on YouTube.
At the time, Penske Racing officials issued a statement saying they were reviewing the matter internally.
Asked if he could confirm Busch as the driver of the No. 22 team in 2012, Penske spokesman Jonathan Gibson last night referred to its previous statement and said the organization would have no further comment at that time.
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2012 Team Chart from jayski.com