Stewart-Haas Racing to Close NASCAR Teams at End of 2024 Season

Time to Pass the Torch

Stewart-Haas Racing (SHR) announced in May 2024 it will close its NASCAR teams at the end of the 2024 season.

The decision will result in the layoff of over 300 employees, confirmed by Jenna Martin of the Charlotte Business Journal.

Closure Details

According to the North Carolina Department of Commerce, up to 323 employees will be laid off as SHR shuts down its operations.

Founded in 2009 by racing legends Tony Stewart and Gene Haas, SHR will cease operations, resulting in the layoffs.

Impact on Employees

Over 300 Stewart-Haas Racing employees will lose their jobs due to the NASCAR Cup Series team's closure.

According to the Charlotte Business Journal, the layoffs will begin in November 2024 and continue through the end of the year.

Reasons for Closure

SHR has not publicly disclosed the specific reasons for its decision to close its NASCAR teams.

However, the move comes amid a challenging financial climate for NASCAR, with declining TV viewership and sponsorship revenue.