Stewart-Haas Racing to shut down after 2024 NASCAR season: 'It's time to pass the torch'

Stewart-Haas Racing first joined the NASCAR ranks in 2002 under the name Haas CNC Racing. Despite being one of the newer teams on the grid, Stewart-Haas Racing ranks 10th all-time in NASCAR wins (69) and won two Cup Series championships in 2011 and 2014. Last year saw Stewart-Haas take home its first Xfinity Series title with Cole Custer.

But that success is coming to an end.

NASCAR Hall of Famer Tony Stewart and co-owner Gene Haas announced today in a statement that the team will shut down after the 2024 season.

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"It is a decision that did not come easily, nor was it made quickly," the statement read in part. "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."

Stewart-Haas Racing currently has four Cup Series charters: the Nos. 4 (Josh Berry), 10 (Noah Gragson), 14 (Chase Briscoe), and 41 (Ryan Preece) Fords. The team also has two Xfinity Series entrants in Custer and Riley Herbst.

Stewart joined Haas CNC Racing in 2008 and the team re-badged as Stewart-Haas Racing in 2009. The team went on to win the 2011 title with Stewart in the No. 14 Ford. Longtime Stewart-Haas driver Kevin Harvick won the team's other title in 2014 in the No. 4 Chevrolet.

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“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," Stewart-Haas' statement said. “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.”

Harvick has the team's most recent victory at the 2022 Federated Auto Parts 400 in Richmond.

Briscoe learned of the news today and posted his thanks to the team on social media.

"I never though this day would come," he said. "I've been at Stewart-Haas for the last seven years now and it truthfully became like home to me and feels like a family... First and foremost, I hope all the guys and gals at this place find a great opportunity because each and every single person here deserves it."

Custer took to social media as well about the news.

Other teams on the Cup Series grid could buy Stewart-Haas Racing's four charters for the 2025 season. Front Row Motorsports is already confirmed as an interested team. 23XI Racing - the Michael Jordan-backed outfit that debuted in 2021 - is interested in expanding beyond its two charters in the Cup Series. Fellow 2021 debutante Trackhouse Racing has shown interest in expansion as well.

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Stewart-Haas Racing driver history

Cup Series wins per driver:

• Kevin Harvick: 37

• Tony Stewart: 16

• Ryan Newman: 4

• Kurt Busch: 6

• Clint Bowyer: 2

• Aric Almirola: 2

• Cole Custer: 1

• Chase Briscoe: 1

Stewart-Haas Racing all-time statistics

NASCAR Cup Series

• Races entered: 771

• Wins: 69

• Pole positions: 54

• Championships: 2 (2011, 2014)

NASCAR Xfinity Series

• Races entered: 353

• Wins: 26

• Pole positions: 23

• Championships: 1 (2023)

This article originally appeared on USA TODAY: NASCAR Cup Series' Stewart-Haas Racing shutting down after 2024 season