Charlotte, NC -- (Sports Network) - Furniture Row Racing announced Friday it has bought out the contract of driver Joe Nemechek. The racing organization recently made known it would field a Sprint Cup Series team on a limited schedule in 2009.

"Just like the reduced schedule announcement, this buyout of Joe's contract has nothing to do with his on-track performance," team president Joe Garone said in a statement. "But our contract with Joe for 2009 was for a full schedule, and we're not able to fulfill that part of the deal."

"This move is doing what is best for both Joe and our team. It doesn't require us to have him drive for Furniture Row in 2009, but it doesn't restrict him from doing what he loves -- and that's racing at the highest level every week of the season."

Nemechek qualified the team's No.78 Chevrolet for 32 out of 36 races this year, earning a pole position in April at Talladega Superspeedway. The team finished 42nd in owner points.

Nemechek signed a three-year contract with Front Row Racing in 2007. His first start with the team came in last year's Labor Day weekend race at California Speedway.