Tony Stewart and Gene Haas have made the decision to sell their four Nascar Cup Series charters and close down their four-car team, Stewart-Haas Racing, at the end of the 2024 season. The team, which has had success in the past with championships in 2011 and 2014, did not disclose which teams are in talks to purchase the charters. The joint statement from Stewart and Haas explained that the demanding commitment needed to maintain peak performance and sustainability has led them to pass the torch at this time.
The announcement to shut down SHR comes following the retirements of drivers Kevin Harvick and Aric Almirola, as well as the loss of significant partners such as Anheuser-Busch, Smithfield, and Hunt Brothers Pizza. The team has brought in Noah Gragson and Josh Berry for this season, with Bass Pro Shops and Overstock.com as key sponsors. Several potential landing spots for the charters include Trackhouse Racing, Front Row Motorsports, and 23XI Racing, all looking to expand their entries for the 2025 season.
With SHR’s charters potentially on the market, Trackhouse has drivers Ross Chastain and Daniel Suarez under contract, as well as Zane Smith and Shane van Gisbergen. Front Row is losing Michael McDowell but could absorb part of SHR’s operation with another charter purchase. 23XI Racing may consider a free agent driver or elevate Corey Heim as their top Toyota prospect. The cost of the charters is estimated to be between $20 to 30 million based on the current market rate.
While SHR has shown signs of improvement in their performance, the team has not claimed a Cup Series victory since Harvick’s last win in 2022. There are speculations that SHR is no longer one of Ford’s primary teams, as they have struggled to make the playoffs in recent years. Despite this, the team has a legacy of success with 69 Cup wins and 22 Xfinity Series victories since its formation in 2009.
Stewart and Haas expressed pride in the wins and championships they have achieved together since forming SHR in 2009. They also emphasized the importance of the culture and friendships built within the organization over the years. The statement highlighted the commitment to their employees, partners, and fans for the remainder of the season and beyond, as they work to assist their staff in finding new opportunities after the 2024 race season. Stewart will focus on his NHRA team, while Haas will continue to concentrate on his Formula 1 operation.
As they prepare to close the doors on Stewart-Haas Racing, Tony Stewart and Gene Haas reflect on the successes and challenges faced by their team over the years. With plans to sell their Nascar Cup Series charters and shut down the four-car operation at the end of the 2024 season, the team will be remembered for their championship titles, victories, and the culture they built within the organization. As the racing world looks ahead to the future of the charters and potential landing spots for existing teams, the legacy of Stewart-Haas Racing will leave a lasting impact on the sport.
