Past Champions Limited To 6 Provisional Berths in Cup: NASCAR announced an update to the past champion’s provisional rule in the Nextel Cup Series for 2007. Beginning this season, a past champion’s provisional may be used by an eligible driver a maximum of six times over the course of the season. In addition, a team with a past champion eligible driver may only use this provisional a maximum of six times during a season. Previously, there was no limit on usage of the past champion’s provisional over the course of the 36-race season. The provisional gives the eligible driver the 43rd and final starting position in the race field. "As NASCAR seeks to place more emphasis on competition, we have decided the time is right to limit the number of provisional's allowed,” said NASCAR Vice President of Competition Robin Pemberton. “We believe this revision brings the provisional policy in line with the continued growth of the sport.”(NASCAR PR)
This is only for a team/driver OUTSIDE the top-35 in owners points, drivers whose team is in the top-35 in owners points, would already be guaranteed in the field and not need the Past Champions Provisional. The provisional is not used in the event Qualifying is cancelled and not charged.(1-31-2007)

Determining Race Line-Ups - Top 35 Guarantee: At the start of the 2005 season, NASCAR instituted a new procedure for establishing the starting race field in the NASCAR NEXTEL Cup Series [NNCS]. NASCAR revamped the system by simplifying the procedure with teams no longer accruing provisional's throughout the season to gain entry into the starting fields. While starting positions one through 42 in the NNCS still will be determined by qualifying speed, the new system will assure the highest-ranked 35 positions of the NNCS OWNER [not Driver] championship points that have entered the event prior to the entry deadline [usually 13 days before the day of the race] one of those starting positions in the field, providing they have made an attempt to qualify [which usually means the team at least practiced and made an effort to qualify].
The remaining seven positions [36-42] will be assigned to those drivers with the fastest qualifying speeds whose car owners are not among the top 35. The final starting position [43rd] – the champion’s provisional – can be utilized by a car owner whose driver is a current or past NASCAR NEXTEL Cup champion who participated as a driver during the current of previous season and was entered in the event for that owner in that car prior to the entry deadline.
If there is more than one series champion vying for the position, it will be given to the most recent series champion. If the final provisional starting position – 43rd in the NASCAR NEXTEL Cup – is not filled by a current or past series champion, it will be assigned to the next eligible car owner according to qualifying results.(12-31-2004)

Previous Season the previous season owners points position is used for the first FIVE races of the season

Terry Labonte has used 6 past champions provisionals and has 0 left to use. He used one with the #66 team to make the Daytona 500 and five with the #08 team after 36 races.

Carter / Simo plans to run rest of season: Carter / Simo Racing announced that Terry Labonte is teaming up with Boris Said for the remaining NASCAR Sprint Cup season. Starting at Indianapolis and continuing through the remainder of the 2009 season, fans can expect to see Terry Labonte driving the #08 Camry or Boris Said behind the wheel of the #08 Ford. The team has immediate openings for sponsors the remainder of the season, all inquires can be made their website.(Simo Racing PR)(7-11-2009)

Terry Labonte to attempt Daytona 500 UPDATE full-time Blaney: Add two-time NASCAR Cup champ [1984, 1996]] Terry Labonte to the list of Daytona hopefuls. Labonte is expected to pilot the Phil Parsons' Toyota [MSRP Motorsports] for the Daytona 500 field.(FoxSports), Labonte would become 2nd in line for the past champions provisonal, 43rd spot, if needed. #14-Tony Stewart [past champ 2005] would get first dibs on the spot if he fails to have a fast time or race in thru the Gatorade Duels and #21-Bill Elliott would be 3rd in line to get the spot, if needed.(1-23-2009)
UPDATE: Two-time Sprint Cup Series Champion Terry Labonte inked a deal that puts him behind the wheel of a Toyota Camry fielded by newly-formed Prism Motorsports for the 2009 "Daytona 500". In making the announcement, team co-owners Phil Parsons and Randy Humphrey also indicated that they expect to compete in the full 2009 NASCAR Sprint Cup Schedule. Window World, based in motorsports tradition-steeped North Wilkesboro, NC, will provide sponsorship for Labonte's Daytona effort. Parsons, a former Sprint Cup Series and Nationwide Series competitor, and now analyst for SPEED Channel's Camping World Truck Series telecasts, is pleased how quickly and smoothly things have fallen into place for his operation. "Randy and I have both long dreamed of owning a Cup team, and now that day has arrived," said Parsons. "And to secure Terry Labonte and Window World for Daytona is more than we could have possibly hoped for our first race out of the box." According to Humphrey, veteran Dave Blaney will take over for Labonte after Daytona. "Like Terry, Dave is not only a talented, competitive race driver, he is also a first-class guy off the track. He's someone that we believe we can build a great team around."
Window World CEO Todd Whitworth is enthused about the opportunity with Prism and is looking at additional race sponsorships. "Window World has grown to be the nation's largest window remodeling company," said Whitworth. "We started Window World just a little over 13 years ago, and today have more than 200 offices in 46 states", said Whitworth. "We see the same level of energy and excitement at Prism Motorsports that has helped make our Window World team so successful. It's a thrill for us to be able to help Prism get off to a fast start in the NASCAR Sprint Cup Series at Daytona."
Prism has also formed a technical alliance with Michael Waltrip Racing, and the team's Toyotas will get their horsepower from Joey Arrington, one of NASCAR's most successful and respected engine builders. Bill Henderson, who served as car chief for Hall of Fame Racing's Toyotas in 2008, has come aboard as Crew Chief for the new organization. Parsons, who finished 9th in Sprint Cup points in a 1988 season that included a win at Talladega, summed up his new venture with more than a hint of emotion. "Randy and I are committed to building an organization founded on integrity and driven to succeed; one that every team member and every sponsor can be proud of," he said. Humphrey agreed, "Phil and I are incredibly blessed to be able to call ourselves 'Cup team owners'. And we plan to make the most of this opportunity we have been provided and the good fortune to have Window World as our key sponsor at Daytona."(Prism Motorsports PR)(1-26-2009)

Wood Brothers team to cut back to 12 races in 2009: The legendary #21-Wood Brothers organization will run only 12 Sprint Cup races next season. Eddie Wood, co-owner of Wood Brothers Racing, said tough economic times have forced the organization to enter only the season-opening Daytona 500 and mile-and-a-half tracks with Bill Elliott, the 1988 Cup champion. The mile-and-a-half tracks were picked because Ford's program is strongest there. "We could run up to 20 but we decided to do 12 and do it right," Wood said Saturday. "We're going back to doing it the way we did it years ago." The organization used to pick and choose races in the early years. It ran only 18 races in 1973, with David Pearson, who won 11 of them. Wood said the organization, which lost Air Force as a sponsor to Gillett Evernham Motorsports, had to let 22 employees go to reduce the team to about 40.(ESPN.com)(12-6-2008)