Stewart-Haas Racing teammates Josh Berry and Chase Briscoe talk during qualifying for the running ... [+]
Tony Stewart and Gene Haas have announced plans to sell their four Nascar Cup Series charters and shut down their four-car team at the end of the 2024 season. Stewart-Haas Racing, which won the 2011 championship with Stewart and the 2014 title with Kevin Harvick, did not say what teams are in discussions to purchase the charters.
“We have made the difficult decision to close Stewart-Haas Racing at the conclusion of the 2024 season,” a joint statement from Stewart and Haas said. “It is a decision that did not come easily, nor was it made quickly.
“The commitment needed to extract maximum performance while providing sustainability is incredibly demanding, and we’ve reached a point in our respective personal and business lives where it’s time to pass the torch.”
The decision by SHR comes after Harvick and Aric Almirola retired, which coincided with the loss of major partners, such as Anheuser-Busch, Smithfield and Hunt Brothers Pizza. The team added Noah Gragson and Josh Berry to its driver lineup this season, with Bass Pro Shops picking up significant inventory on Gragson’s car and Overstock.com doing so with Berry.
There are numerous landing spots for SHR’s charters, including Trackhouse Racing, Front Row Motorsports and 23XI Racing, each of which are looking to expand to three full-time entries in 2025. The going rate for the charters will likely be around the $20 to 30 million range based on the high supply rate.
Trackhouse has Ross Chastain and Daniel Suarez under contract, along with Zane Smith and Shane van Gisbergen. Front Row is losing Michael McDowell at the end of the season, but if it purchases another charter, it could absorb part of SHR’s Cup operation and its employees. 23XI can either pick up a free agent driver, or it may elevate top Toyota prospect Corey Heim.
SHR has not won a Cup Series race since Harvick’s final victory at Richmond in 2022. While the team has begun to show improvements in its performance, it is rumored that they are no longer one of Ford’s primary teams. Last year, Harvick was the only SHR driver to qualify for the playoffs compared to 2020, when all four cars made the playoffs.
SHR formed in 2009 after Stewart announce he would depart Joe Gibbs Racing to co-own what was previously known as Haas CNC Racing, which Haas operated.
“We’re proud of all the wins and championships we’ve earned since joining together in 2009, but even more special is the culture we built and the friendships we forged as we committed to a common cause – winning races and collecting trophies,” the statement continued. “That is the same commitment we made to our personnel, our partners and our fans coming into this year, and that commitment will remain through the season finale at Phoenix.
“We have tremendous respect and appreciation for all of our employees, and we will work diligently to assist them during this transition to find new opportunities beyond the 2024 race season.”
The team has 69 Cup wins since it was formed, along with 22 Xfinity Series victories. SHR also won the 2023 Xfinity Series championship with Cole Custer, son of team president Joe Custer.
Stewart will continue to own a NHRA team, while Haas will focus on his Formula 1 operation.
