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The days might be numbered for the Stewart-Haas Racing and members of the NASCAR team are already planning their escape routes.
Adam Stern of Sports Business Journal previously reported that the team was looking to downsize from four cars to three or even two.
Now Stern reports that owners Tony Stewart and Gene Haas may cash out of the sport and the series altogether.
Due to the uncertainty around @StewartHaasRcng, some of its drivers and their reps have started reaching out to other teams about options for next year in case they lose their seat, according to three people familiar with the matter.
🗞: https://t.co/ZPwcbtO255 pic.twitter.com/80x1cPc1As
— Adam Stern (@A_S12) May 20, 2024
Stewart-Haas currently runs four cars and won championships in both 2011 and 2014. But results have fallen off in recent years and with the departures of big-name drivers such as Tony Stewart, Kurt Busch and Kevin Harvick, so has revenue.
“They’ve lost eight figures in just the past year due to the departures of Anheuser-Busch, Smithfield Foods and Hunt Brothers Pizza,” Stern writes. “Since then, neither team co-owners Tony Stewart and Gene Haas have addressed the rumors, which have only intensified, according to industry sources as well as published reports from Fox Sports. Fox reported earlier this month that SHR ‘has sent prospective buyers information on what it would take to purchase a charter.'”
Harvick retired following the 2023 season. He now works for Fox in a broadcast role. But after filling in for Kyle Larson at Hendrick Motorsports for a recent practice session, he took a veiled jab at his former team.
.@KevinHarvick on differences in working with @TeamHendrick the past week: "Seeing the owner twice in two weeks is nice."#NASCAR
— Jim Utter (@jim_utter) May 17, 2024
Stewart and Haas (who also owns the Haas Formula 1 team) are reportedly rarely the team’s race shop.
Stern reports the team could now sell all four of its charters.
With rumors abound, Stewart-Haas employees are reportedly looking to land elsewhere.
“Due to the uncertainty around SHR, some of its drivers and their agents have started reaching out to other teams about options for next year in case they lose their seat, according to three people familiar with the matter,” he wrote.
The emergence of new teams such as Michael Jordan-owned 23XI and Pitbull’s Trackhouse makes the loss more palatable for NASCAR.
But it’s still sad to see a team that was at the top of the sport just a decade ago now thinking about walking away.