Chip Ganassi Racing team owner Chip Ganassi has confirmed that his company’s NASCAR Xfinity Series team will cease operation with immediate affect. The news comes after the DC Solar offices were raided by the FBI last month. DC Solar had been set to be the primary sponsor to the No.42 Chip Ganassi Xfinity Series car in 2019.

In a statement, Ganassi said:

Due to a lack of sponsorship funding we will cease operation of the No.42 Xfinity team in 2019. This was a difficult decision for me to make and it comes with much anquish as this is a championship caliber team (having won six races and finished second in the owners championship) and more importantly because it affects a number of good people’s livelihoods. Running a car without proper funding is difficult to do.

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