CHARLOTTE, N.C. (WISH) — Stewart-Haas Racing made a major announcement on Tuesday, revealing that the NASCAR team will end operations at the end of the current season.

Team co-owners Tony Stewart and Gene Haas issued the following statement:

“We have made the difficult decision to close Stewart-Haas Racing at the conclusion of the 2024 season. It is a decision that did not come easily, nor was it made quickly.

“Racing is a labor-intensive, humbling sport. 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.

“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.”

There are currently four NASCAR Cup Series cars and two NASCAR Xfinity Series cars under the Stewart-Haas Racing tent.

The four Cup Series drivers for the team are Josh Berry, Noah Gragson, Chase Briscoe and Ryan Preece. Briscoe, an Indiana native, is the highest driver on the team in this year’s points standings. He is currently 16th in the standings, ahead of the other three drivers on the team.

Meanwhile, the two Xfinity Series drivers for the team are Cole Custer and Riley Herbst.

The team has won two Cup Series championships (2011 and 2014) and one Xfinity Series championship (2023) during its tenure.

Stewart-Haas Racing has not won a Cup Series race since the 2022 season.

The NASCAR Cup Series is back in action this weekend at World Wide Technology Raceway for the Enjoy Illinois 300. Sunday’s race is scheduled to start at 3:30 p.m. EDT.