Report: Kurt Busch Released from Penske Racing

Just two weeks after an at track incident in which Kurt Busch was caught on camera with a profanity laced rant to ESPN pit reporter Dr. Jerry Punch, Kurt Busch has been released from Penske Racing according to Charlotte.com and Jim Utter.

Following last week in which NASCAR fined Kurt Busch $50,000 for the incident at Homestead he will be looking for work. This all follows after several on and off track incidents this year in which saw Busch blow up at his pit crew at Darlington and then at Richmond in September was caught on camera tearing up papers handed to him from a media member who questioned his statements and went on to show him that he had in fact made statements.

An announcement is expected to be made in the morning from Penske Racing on the situation.

UPDATE: Fox Sports is reporting that David Ragan who is out at Roush Fenway due to loss of sponsorship will take over the No. 22 ride for Penske Racing in 2012. Regan won his first Sprint Cup Series race this past July at Daytona in the Coke Zero 400. Others also considered in the running at David Reutimann and Brian Vickers who both lost their rides at the end of the season.