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On May 28, 2024, it was announced that Stewart–Haas Racing would be shutting down the team's Cup and Xfinity teams following the 2024 season. [3] [4] [5] Less than a month later, on June 20, Gene Haas announced he will keep one of the team's charters and reorganize the team as Haas Factory Team, with Joe Custer as the team president.
Hülkenberg and Magnussen are set to depart the team after the 2024 season; the former will join Kick Sauber and will be replaced by Formula 2 graduate Oliver Bearman, previously a reserve driver for the team. This is the first time that Haas has taken on a rookie driver since the pairing of Nikita Mazepin and Mick Schumacher in 2021.
On May 28, 2024, Stewart announced that he would be shutting down Stewart-Haas Racing's Cup and Xfinity teams after the 2024 season. The closure of the team will lead to the loss of 323 jobs. [ 18 ] One charter has been confirmed to be sold to Front Row Motorsports for US$ 20-25 million.
Haas' new team will be called Haas Factory Team and ... before retiring at the end of the 2023 season and SHR lost longtime sponsors like Busch and Smithfield ahead of the 2024 season. Haas ...
Stewart-Haas Racing is closing its doors at the end of the 2024 season. The race team co-owned by NASCAR Cup Series champion Tony Stewart and investor Gene Haas announced Tuesday on social media ...
Haas spends most of his time with his Formula 1 team and Stewart is driving a full NHRA schedule, making both absentee owners at NASCAR events. The 71-year-old Haas was also ill for much of last year.
Gene Haas, the other co-owner of SHR, announced he would retain the team and rebrand it as Haas Factory Team for 2025. [4] This is also the first season without 2017 champion Martin Truex Jr. as a full-time driver since 2005 , as he announced his retirement from full-time racing on June 14, 2024. [ 5 ]
Stewart–Haas Racing ceased operations at the end of the 2024 season, with co-owner Gene Haas retaining the two Xfinity Series teams under the Haas Factory Team banner. [94] Scott Osteen, who was the owner of Floridian Motorsports, a new team that debuted in the Truck Series in 2024, became a co-owner of Joey Gase Motorsports for 2025. The ...