Former NASCAR driver Phil Parsons and Randy Humphrey have announced the formation of Prism Motorsports and say they will enter two-time Cup champion Terry Labonte in the Daytona 500 and have Dave Blaney take over for the rest of the Sprint Cup season.

The team will field Toyotas in 2009, a news release said, and Bill Henderson will serve as crew chief.

Sponsorship for the 500 will come from Window World, a window remodeling company based in North Wilkesboro, N.C.

"Randy and I have both long dreamed of owning a Cup team, and now that day has arrived," said Parsons, who is a Speed channel analyst. "And to secure Terry Labonte and Window World for Daytona is more than we could have possibly hoped for our first race out of the box."

Blaney, Humphrey said, is a driver "we believe we can build a great team around."

The news release said Prism has formed a technical alliance with Michael Waltrip Racing and that Joey Arrington will provide engines.

by Sporting News