Ricky Craven’s Nextel Cup tenure with PPI Motorsports will last just one more race – but it won’t be this weekend.

Team owner Cal Wells III announced Thursday that Bobby Hamilton Jr., who already had been signed to replace Craven in the No. 32 Tide Chevrolet next season, will instead take over the ride starting with this weekend’s NASCAR race at California Speedway.

Hamilton will remain in the seat for the rest of the 2004 season with one exception – Craven will drive in the Sylvania 300 to be held at his home track, New Hampshire International Speedway, on Sunday, Sept. 19.

The immediacy of the driver change had been speculated throughout this week, though both sides reportedly needed to reach a contractual agreement with car sponsor Procter & Gamble. The decision to leave the ride with 12 races remaining in the season was Craven’s, according to a report earlier this week in the Charlotte Observer and its NASCAR-related Web site, ThatsRacin.com.

“We are very grateful Ricky Craven chose to allow us the opportunity to get a head start on the 2005 season and let us put Bobby Hamilton Jr. behind the wheel of the No. 32 car,” said Wells in a press release. “This will give Bobby Jr. and the team a chance to work together for the remaining events to build a foundation for next season.

“We are also very excited to be taking Ricky back to New Hampshire this fall.”

Craven was unavailable for comment Thursday, according to Todd Smart of Hawk Sports Management, Craven’s publicist, but he did release a statement on his Web site, rickycraven.com.

“Although it is not easy to step away from something that has been a major part of my life for the past four years, I will reflect on these 132 races with PPI with great pride and appreciation, not only for our two memorable wins and other accomplishments but the camaraderie, friendships and associations we have built along the way,” Craven said.

“I will always appreciate the time spent racing with PPI, the Tide Racing team and all the people who make up Procter & Gamble.”

Craven added that he could not address any future racing plans at present, but in addition to his remaining Nextel Cup ride in New Hampshire he is scheduled to drive in the Craftsman Truck Series race at NHIS on Saturday, Sept. 18.

The 2004 season has been a mighty struggle for the 38-year-old Newburgh native. He currently ranks 34th in Nextel Cup points, worst among all drivers who have started each of the first 24 races this season.

Craven’s best finish this year is 16th, which he accomplished three times: April 18 at Martinsville, Va., June 6 at Dover, Del., and June 27 at Infineon Speedway in Sonoma, Calif.

In his most recent start, Craven finished 34th last Saturday at the Bristol (Tenn.) Motor Speedway.

Craven has driven for PPI Motorsports since it began competing in the former NASCAR Winston Cup Series in 2001.

He carried the team to victory twice, at Martinsville on Oct. 15, 2001, and at Darlington, S.C, in March 2003 – edging Kurt Busch in the closest finish since NASCAR began using electronic timing in 1993, a margin of 0.002 seconds.

Craven’s best year with PPI, and in his NASCAR Cup career, came in 2002 when he finished 15th in the point standings with three top-five finishes and nine top-10s in 36 races.

Craven made his NASCAR Cup debut at Rockingham, N.C., in 1991, but began racing full-time on the sport’s top circuit in 1995, when he earned Rookie of the Year honors.

In 274 career starts, he has two wins, six poles, 17 top-five finishes and 41 top-10s.

Hamilton became available to take over the No. 32 ride full time with the exception of the New Hampshire race last month when he was released from his Busch Series ride by car owner Ed Rensi despite ranking among the top 10 in points.

Hamilton has 20 NASCAR Cup starts to date, including six this year in the No. 09 car owned by James Finch and Phoenix Racing.

Craven’s crew chief, Mike Beam, will continue to serve as crew chief for the Tide Chevrolet for the remainder of the 2004 season. Harold Holly, who was hired to serve as crew chief for Hamilton in 2005, also will play a role in Hamilton’s transition with PPI Motorsports this season.