Stewart Haas Racing will close its NASCAR operations following the end of the 2024 NASCAR season. The co-owners, Tony Stewart and Gene Haas shared a joint statement that laid down the reasons for their closure of the SHR. While this announcement is a bitter blow for fans, NASCAR teams will look to make the most of their exit and expand their racing operations.

It wasn’t an easy decision to close their racing operations, say Stewart and Gene Haas

Stewart Haas Racing had been struggling to deliver performances on the race track in the past few seasons. The 2023 season in particular was a nightmare for them. Moreover, with the departure of Kevin Harvick, it became tough for the team to keep hold of their big-name sponsors and contributors.

Bob Pockrass took to X and released a copy of their joint statement, which stated, “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 everybody else. It’s part of what makes success so rewarding.”

The team was in its final year of OEM partnership with Ford. And with no clear idea of how their business will progress with the stalled charter agreement, they just couldn’t continue further. Not to forget, Gene Haas has to look out for his Formula 1, and Stewart is looking towards having a family and focusing on his NHRA run this season.

“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,” the statement further read. This could also potentially hint at the teams who are willing to buy one or multiple charters that are now available on the market.

23XI Racing and Trackhouse Racing front runners to bag SHR charter

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Only recently, 23XI Racing opened the doors of their new race shop, Airspeed. For the time being, they do run two full-time rides, #23 and #45, but could be adding another after SHR announces its departure from NASCAR. Deny Hamlin and Michael Jordan’s co-owned team has time and again fielded the #50 part-time car, stating their intention to become a three-car team. And this just might come true.

An update shared by Bob Pockrass also mentioned that Justin Marks and Pitbull’s brainchild, Trackhouse Racing, is also likely to bag an SHR charter. They do have Zane Smith and Shane van Gisbergen signed to the team. Smith will be returning home, ending his loan spell at Spire Motorsports. Meanwhile, SVG has expressed his desire to enter Cup racing. So a charter definitely allows Trackhouse Racing to manage its driver lineup.

Front Row Motorsports is another name that was heavily linked to adding an SHR charter to its team, and they are expected to get one charter for themselves. The fourth remaining charter is up for grabs; Legacy Motor Club, RFK Racing, and JTG Daugherty Racing are rumored to be in the mix to grab this charter. It’s fair to say, that Stewart-Haas Racing’s departure will have a domino effect, and we can expect major changes to the Cup team ahead of the 2025 season.