Homestead, Fla. ? Following Bill Elliott into the last lap of Sunday’s era-ending Winston Cup race at Homestead-Miami Speedway, Bobby Labonte was resigned to a runner-up finish.

“He was really motoring, and I knew I wasn’t going to win unless something happened,” Labonte said. “Then, something happened.”

Coming off turn two on the reconfigured 11/2-mile oval, Elliott’s right rear tire exploded, costing the former series champion a second straight win and giving Labonte an unexpectedly happy ending to a disappointing season.

This was the last race for R.J. Reynolds Tobacco Co. after 33 years as a major sponsor for NASCAR. Beginning in 2004, NASCAR’s top stock-car series will be sponsored by Nextel Communications and will be known as the Nextel Cup.

Elliott led 189 of 267 laps. He held off Labonte on a restart nine laps from the end and pulled away, driving into the first turn of the last lap leading by about five car-lengths and apparently on the way to an easy win.

As Elliott drove off turn two, his Dodge wiggled and slowed as his tire came apart. That sent pieces of sheet metal and rubber flying and ignited a fire in the wheelwell.

Labonte, who struggled early in the race and had not led a lap all day, shot past Elliott on the backstretch and beat runner-up Kevin Harvick to the finish line by 1.749 seconds — half the front straightaway.

Elliott, the 1988 series champion, held on to finish eighth and took the loss in stride.

“Our Dodge ran so well today, and it’s just an unfortunate thing,” he said.

Matt Kenseth, who wrapped up the last Winston Cup championship a week earlier at Rockingham, N.C., had an engine failure and finished last in the 43-car field Sunday.

Jimmie Johnson was third and easily held onto second place in the standings, finishing a deceptively close 90 points to Kenseth.