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Ryan Newman signs 1-year extension

Updated: September 6, 2012, 8:20 PM ET
Associated Press

RICHMOND, Va. -- 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 ...

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