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Newman signs 1-year extension with Stewart-Haas

Ryan Newman confirmed Thursday he has signed a contract extension with Stewart-Haas Racing for next season.

Newman is in the final year of the deal he signed in 2009. The extension is a one-year agreement, and he said he took a cut in pay just as nearly every driver has of late.

"I think in general everybody out there right now has taken a pay cut," Newman said. "No different than the cost of a seat in the grandstands is down. It all correlates."

SHR is searching for heavy sponsorship for next year after taking two big hits this summer. The U.S. Army, primary sponsor of Newman's car, said earlier this summer it isn't returning to NASCAR next season, and Office Depot said Sunday it won't be back as co-primary of Tony Stewart's car.

Newman said he isn't aware of any signed sponsors for next season on his No. 39 Chevrolet.

"I feel fairly confident that we'll have good branding on the car," he said. "I can't sit here and say exactly who it is going to be and how it's going to lay out and what race they're going to be at. I can tell you this for sure — it's going to be multiple sponsorships."

Newman is one of many drivers on the bubble of making the Chase for Sprint Cup championship heading into Saturday night's race at Richmond. He can only make the Chase with a victory.