The Stewart-Haas NASCAR operation is to shut its doors at the end of the current season, the team confirmed in a joint statement.
The squad in its current form has existed since 2009, with co-owner Gene Haas having set up his own outfit in 2002 under the name CNC Racing.
Since joining forces with Tony Stewart in 2009, the Stewart-Haas team has won 69 Cup Series races and two drivers' titles.
In the NASCAR Xfinity Series, it has achieved 25 race wins as well as the 2023 drivers' championship.
“We have made the difficult decision to close Stewart-Haas Racing at the conclusion of the 2024 season,” read a statement.
“It is a decision that did not come easily, nor was it made quickly. Racing is a labour-intensive, humbling sport.
“It requires unwavering commitment and vast resources, with a 365-day mindset to be better than everyone else. It’s part of what makes success so rewarding.”
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For a long time, NASCAR was the core business of the Haas racing branch until it opted to join Formula 1 in 2016 - where it remains active to this day.
A number of difficult seasons have been endured by the Haas F1 squad - however, its form at the start of the current campaign has been positive.
The team sit seventh in the constructors' championship with seven points from the opening eight races.
With its NASCAR venture coming to an end, the team has insisted that its F1 operation remains unaffected.
“Business as usual for Haas F1 Team - Gene fully engaged and committed,” a Haas spokesperson told RacingNews365.
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