Stewart-Haas Racing will shut down after the 2024 NASCAR season, but Gene Haas isn’t getting out of the game entirely.

Haas announced Thursday that a new organization, Haas Factory Team, will retain one of Stewart-Haas’ Cup Series charters beginning next season.

Haas Factory Team will also have two teams in the Xfinity Series starting in 2025.

Haas and co-owner Tony Stewart revealed last month that Stewart-Haas, which was formed in 2009, will fold after this season, with a statement saying in part that “the commitment needed to extract maximum performance while providing sustainability is incredibly demanding, and we’ve reached a point on our respective personal and business lives where it’s time to pass the torch.”

The 71-year-old Haas explained his decision to keep going in a new arrangement Thursday.

“My commitment to motorsports hasn’t changed, just the scope of my involvement,” Haas said in a release. “Operating a four-car Cup Series team has become too arduous but, at the same time, I still need a platform to promote Haas Automation and grow HaasTooling.com.

“Maintaining my presence in Cup allows Haas Automation to compete at NASCAR’s highest level, which is important to our customers and distributors. The Xfinity Series program provides a full weekend experience for our guests, and it delivers added depth and scale to our overall operation.”

The current lineup of Cup Series drivers for Stewart-Haas Racing is Chase Briscoe, Noah Gragson, Ryan Preece and rookie Josh Berry. Cole Custer and Riley Herbst drive for SHR in the Xfinity Series.

Joe Custer, president of Stewart-Haas Racing and father of Cole, was named the president of Haas Factory Team in a press release, leaving Cole Custer as an intriguing possible option to be the team’s inaugural Cup Series driver.

The team will operate out of the existing Stewart-Haas facility in Kannapolis, N.C.

–Field Level Media