3:49 PM PT -- A video posted in Nov. 2019 appears to show the rope in question, hanging on the side of Garage #4.
The FBI says the noose found in Bubba Wallace's garage stall at Talladega Superspeedway in Alabama had been there since 2019 -- and they've determined "no crime was committed."
In fact, NASCAR says the item in question is a "garage door pull rope fashioned like a noose" that had been positioned in the garage since last Fall.
NASCAR adds, "Bubba Wallace was not the target of a hate crime."
The FBI -- along with U.S. Attorney Jay E. Town -- just explained the situation.
"On Monday, fifteen FBI special agents conducted numerous interviews regarding the situation at Talladega Superspeedway. After a thorough review of the facts and evidence surrounding this event, we have concluded that no federal crime was committed."
According to the FBI, Garage #4 -- where the noose was found -- was assigned to Bubba Wallace last week.
"Although the noose is now known to have been in Garage #4 in 2019, nobody could have known Mr. Wallace would be assigned to Garage #4 last week."
The FBI and the U.S. prosecutors say the decision not to pursue federal charges is proper "after reviewing all available facts and all applicable federal laws."
"We offer our thanks to NASCAR, Mr. Wallace, and everyone who cooperated with this investigation."
As we previously reported, Bubba didn't find the rope himself -- it was a member of his crew who discovered it on Sunday and immediately reported to NASCAR.