Tony Stewart knows there are no guarantees — but you have to wonder if he really knows what's in store for him after jumping off the diving board into the deep end of the pool.

At Chicagoland Speedway on Thursday, Stewart announced what had been written for weeks — that he will drive for Haas CNC Racing (renamed Stewart-Haas Racing) next year in exchange for a 50 percent ownership stake in the operation.

Stewart will have half interest in a team that has struggled mightily this season. Both Haas CNC cars are outside the top 35 in the owner points standings. If that remains unchanged at the end of the year, neither car will have a guaranteed starting spot in the first five races of 2009 unless NASCAR decides to modify the top-35 rule.

The No. 66 Chevrolet, driven by Scott Riggs, is 36th in owner points, so getting the car back into the top 35 is squarely on Riggs' shoulders. Although Stewart says Riggs hasn't been ruled out as the second driver for Stewart-Haas, you can bet that someone with a higher profile — probably Ryan Newman — will fill that seat.

In fact, Penske Racing announced Monday that the organization and Newman, the 2008 Daytona 500 winner, have decided to part ways at the end of the season. Though Newman said Sunday at Chicagoland that he has yet to reach an agreement with anyone, you can bet Stewart is holding a contract with Newman's name on it, awaiting signature.

Even with drivers of Stewart's and Newman's unquestioned talents, can Stewart-Haas transform itself from a struggling team to a world beater before the new co-owner's patience wears thin?

Clearly, the drivers are an upgrade. Stewart is a two-time NASCAR Sprint Cup champion with 32 wins in 9 1/2 seasons with Joe Gibbs Racing. Newman, who drove his first full Cup season for Penske in 2002, has 13 victories and 43 poles.

Haas CNC gets its engines, chassis and some technical data from Hendrick Motorsports, a relationship Stewart wants to maintain long term. Even with Hendrick's support — not to mention unfettered access to a wind tunnel and seven-post shaker rig — the team hasn't managed to keep either of its cars in the top 35 this year.

There's no doubt Stewart's cachet will result in a fully funded operation at Stewart-Haas. If half the sponsors rumored to be backing Stewart next year materialize, the dollars will be there. Another thing you can take to the bank: Stewart will attract the best and the brightest in the Cup garage to his operation. Haas CNC general manager Joe Custer says his phone has been ringing nonstop with calls from prospective employees.

You have to ask, though, whether Stewart will get the best equipment Hendrick has to offer and whether the flow of information between the two organizations will be unfiltered. Can you imagine the following conversation in the Hendrick engine shop?

"This motor is the hottest one we've got."

"Great. Let's give it to Tony this week, instead of Dale Jr."

I didn't think so.

There's a flip side to that proposition, too. If Stewart starts beating Hendrick drivers with Hendrick equipment, how long before Hendrick's four horsemen — Earnhardt, Jeff Gordon, Jimmie Johnson and Mark Martin — start raising hell?

Don't sell Stewart short. He already owns U.S. Auto Club and World of Outlaws teams in the open-wheel ranks. He owns three racetracks, one of which — Eldora Speedway — now hosts "Prelude to the Dream," a midweek dirt late-model charity event that has Cup drivers begging to compete.

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Still, transforming a team from also-ran to championship contender is a daunting proposition, one Stewart will have to accomplish without longtime crew chief Greg Zipadelli, who chose to stay at Joe Gibbs Racing.

I wish Tony the best, because I know he'll bring the same competitive fire to team ownership that he brings to the racetrack every week.

I just hope he has the patience to shepherd the process to a successful conclusion.