Busch said the car is fully funded – a sponsorship announcement is forthcoming – and likely will run for the owners championship.

While he wouldn’t announce any drivers, Busch said it was safe to assume he would drive in select races that don’t conflict with his obligations for Joe Gibbs Racing in the Nationwide Series.

Busch, who drives for JGR in the Sprint Cup Series, said he still needs to determine a car number for the Nationwide car.

“It's a great opportunity for myself and for the Kyle Busch Motorsports organization, for everybody that's there now [and] that we have on the line to hire to bring over in order to foresee that program being successful,” Busch said. “We're excited. It's a great day for us. Crew chiefs, sponsors, drivers – all that stuff will be announced at a later time.”