MOORESVILLE, N.C. - Ryan Blaney will have a new home in 2018.

One day after announcing a multi-year contract extension with driver Brad Keselowski, Team Penske announced that Blaney will drive the No. 12 Ford Fusion in the Monster Energy NASCAR Cup Series next season.

Blaney's tenure with Team Penske will begin with the non-points Clash at Daytona in February. The team announced Blaney has signed a multi-year deal to drive for them.

"For some time now, we have wanted to bring Ryan in to run a third car for us, but things just needed to make sense from a timing and business perspective," said team owner Roger Penske. "We have been working on making this a reality and 2018 is the right opportunity to make this move and return our organization to a three-car team."

Blaney made his Cup debut for Team Penske in 2014 at Kansas Speedway. He made a second start of Penske at Talladega that season before moving to the No. 21 entry for the Wood Brothers. In 72 starts in the No. 21, Blaney has 18 top 10s and three top-five finishes, including a win at Pocono earlier this season. He is currently 12th in points and qualified for the playoffs.

"This is a huge opportunity for me and my career," said Blaney. "I've always enjoyed racing whatever car I was in and trying to win each and every race. I've had some great moments with both Team Penske and the Wood Brothers over the last few years."

Sponsorship for Blaney's No. 12 was not announced by Team Penske. It was announced Wednesday that Paul Menard will replace Blaney in the No. 21 for next season, leaving Richard Childress Racing.

In a statement, Richard Childress announced that the team plans on fielding three full-time entries next season and its specific plans will be announced at a later date.