Stewart-Haas Racing will be shut down at the end of the current season, co-owners Tony Stewart and Gene Haas revealed Tuesday.

Since being formed in 2009, the team has collected 69 victories in the NASCAR Cup Series and three NASCAR drivers’ championships. Stewart won the Cup Series title as a driver/owner in 2011, Kevin Harvick won it in 2014 and Cole Custer captured the Xfinity Series championship for Stewart-Haas last year.

In a statement, Stewart and Haas said their decision to shut down was not made hastily.

“Racing is a labor-intensive, humbling sport,” they said. “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.

“But 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.

“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 team’s current Cup Series drivers are Josh Berry, Chase Briscoe, Noah Gragson and Ryan Preece. Custer and Riley Herbst drive for the Xfinity Series team.

“Stewart Haas has been home to my family and I for the last 7 years and at the end of the year myself and the entire organization will be looking for a new home and new opportunities in the Cup series,” Briscoe wrote on social media. “I have amazing partners behind me and can’t wait to get them back in victory lane.”

Stewart and Haas’ statement added that they have “tremendous respect and appreciation” for their employees and they will work to help them find new employers for after the 2024 season.

Haas has owned a Cup Series entry since 2002. Stewart partnered with him to form Stewart-Haas Racing in 2009.

–Field Level Media