--(Cont'd From Front Page)-- "I'm proud that I'm the first African-American owner at this level," Daugherty said. "I co-founded NASCAR's diversity council about 15 years ago, and a lot of people have spent a lot of time to make this sport more inclusive. I hope this will open some doors for more minorities to become involved in this great sport."

He said he hopes to announce plans for another Nationwide team for the 2009 season with a young driver.

Daugherty, 42, played basketball at North Carolina and in the NBA with the Cleveland Cavaliers. He said he would continue in his role as a NASCAR analyst with ESPN.

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