NASCAR Premier Series regular Ricky Stenhouse Jr. is now co-owner of a race team.

But while Stenhouse drives full-time for Roush Fenway Racing, the team he co-owns won't race in NASCAR but instead will compete in the World of Outlaws Craftsman Sprint Car Series, with veteran Joey Saldana behind the wheel.

Saldana, who has won 99 times on the WoO circuit, will pilot the Elk Grove Ford/Roth Investments No. 17 for Stenhouse Jr.-Wood Racing team.

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Matt Wood, co-owner of the team with Stenhouse, began the 2016 season with driver Bryan Clauson, who was killed in a crash while leading the Belleville Midget Nationals in Belleville, Kansas in August.

"A year ago Matt (Wood), Richard (Marshall of Priority Aviation) and I began forming a World of Outlaws team centered around Bryan Clauson driving," said Stenhouse. "After Bryan's tragic crash we all kind of just laid low.

"A few weeks ago an opportunity came up to have a partnership with Matt, Dennis Roth, Richard and myself," said Stenhouse. "With Joey driving the car, it was something I felt I couldn't pass up. With leadership from Tyler (Swank, crew chief) and Joey's experience, everyone on this team is ready to compete. I have a lot of passion for sprint car racing and I miss driving, but I feel being an owner of this type of a World of Outlaws team will make me feel more a part of the sport."