Penske Racing announced Wednesday A. J. Allmendinger will replace Kurt Busch behind the wheel of the No. 22 Dodge in the NASCAR Sprint Cup Series.

"I am honored to join Penske Racing and I will do my very best to continue to build on the standard of excellence established across the organization," Allmendinger said in a prepared statement.

Allmendinger has driven for Richard Petty Motorsports the past three seasons and finished 15th in the 2011 point standings. Allmendinger was given a release by RPM after primary sponsor Best Buy announced Tuesday they would be moving their sponsorship to Roush Racing next season.

"AJ is a very talented and motivated driver and we believe he will be a terrific fit with our team," said team owner Roger Penske. "He has shown great promise and consistent results on the track over the last few seasons and working with Todd (Gordon, crew chief) and the Shell-Pennzoil Dodge team will allow him to take the next step and compete for race wins and a spot in the Chase in 2012."

Today’s news leaves the seat in the No. 43 open with Kurt Busch and David Ragan reportedly being candidates for the ride.

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