Yahoo! Sports has learned that Jay Frye announced in a team meeting Tuesday that he has agreed to remain as the general manager of NASCAR's Team Red Bull.
In an exclusive interview with Yahoo! Sports, Frye expressed his desire to continue the course he's laid out for the fledgling stock-car organization.
"I've been given a unique opportunity to build this team into something great," said Frye, who has been at the helm of the two-car Sprint Cup team owned by the Austrian energy-drink giant since January.
Frye's decision puts to rest any speculation that the Rick Hendrick protégé would leave Red Bull to take a similar position at Stewart Haas Racing.
When asked about the Stewart Haas offer, Frye replied, "I've always wanted to stay here. I love where I'm at. This is the perfect job."
After meeting with Red Bull executives in Austria two weeks ago, Frye left convinced of Red Bull owner Dietrich Mateschitz's strong commitment to building the NASCAR organization into a championship contender.
"I've always thought that with the people on this team that we can be a real force in this sport," Frye said. "Red Bull is extremely committed to this team and to this sport, and they've given me all the necessary tools to succeed."
Under Frye's direction, Team Red Bull has changed course from a team in trouble to a team on the rise. After a disastrous NASCAR debut in 2007, the team has now become the No. 2 Toyota team in Sprint Cup competition.
Driver Brian Vickers, the 2003 Nationwide Series champion, has rebounded from finishing 38th in the standings at the end of last season to making a serious challenge for the Chase this year. He sits 16th in points.
The team's other driver, former open-wheel racer A. J. Allmendinger, has also made great strides since his stock-car debut last season, although his future with the team is still up in the air.
In addition, Frye has former F1 driver Scott Speed waiting in the wings. Speed has been nothing short of remarkable this season, winning both Craftsman Truck series and ARCA stock car races. He leads the drivers' standings in the ARCA series. Speed will make his Sprint Cup debut this fall, and all signs point to him running a full Cup season next year.
A decision on Allmendinger’s future is expected by week's end.