Rusty Wallace

Champion NASCAR driver Wallace, ESPN's lead studio analyst for auto racing, has reached a new contract extension to remain with ESPN through the 2014 season, ESPN.com reports.

Officials of Rusty Wallace Racing and Joe Gibbs Racing announced the formation of a technical alliance between the two teams, under which JGR will provide RWR with technical support for the development of NASCAR Nationwide Series Toyota Camry race cars, Rusty Wallace Racing PR reports.

Rumor has it around the race shops of Mooresville, N.C. that Wallace is contemplating coming out of retirment next season and racing with Dale Earnhardt Inc., SPEEDtv.com reports.

Wallace, the retired NASCAR champion and current ESPN analyst, returned to the high banks of Daytona International Speedway for the first time since 2006 ARCA RE/MAX Series testing when he shook down one of his Rusty Wallace Inc. Chevrolets, Daytona International Speedway PR reports.

Wallace told ESPN on Monday that he turned down an offer to drive for Richard Childress Racing next year, ESPN.com reports.