Stewart-Haas Racing may be closing at the end of the 2024 NASCAR season, but SHR co-owner Gene Haas will continue on as both a Cup and Xfinity Series team owner, announcing Thursday he will retain one of SHR’s four charters and form a new organization called Haas Factory Team.
Haas’ new NASCAR team will field a single car in Cup and two cars in Xfinity for the 2025 NASCAR season. Haas Factory Team will operate out of SHR’s existing headquarters in Kannapolis, N.C., while current SHR president Joe Custer will take on a similar role with the new team.
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Before forming SHR with Tony Stewart in 2009, Haas had previously owned a Cup team that began competing full-time in 2003. That team did not win a race nor have a driver qualify for the Cup playoffs.
No news regarding drivers, sponsors or manufacturer was mentioned in Thursday’s announcement. Haas, a California billionaire, has long sponsored at least one Cup car through his outside interests and that is expected to continue.
“My commitment to motorsports hasn’t changed, just the scope of my involvement,” Haas said. “Operating a four-car Cup Series team has become too arduous but, at the same time, I still need a platform to promote Haas Automation and grow HaasTooling.com.
“Maintaining my presence in Cup allows Haas Automation to compete at NASCAR’s highest level, which is important to our customers and distributors. The Xfinity Series program provides a full weekend experience for our guests, and it delivers added depth and scale to our overall operation.”
It is not an unexpected move as SHR announced last month it was closing at the end of the current season, dissolving what has been one of NASCAR’s top teams since its 2009 formation. Since Haas partnered with Tony Stewart, SHR has won two championships and 69 races. Hendrick Motorsports (six titles) and Team Penske (four) are the only organizations to have won more championships during this span.
SHR closing placed four charters, the NASCAR equivalent of a franchise that guarantees the holders certain monetary rewards, on the market with several team enquiring about purchasing them over the past few months.
A day after SHR made public it would shutter, Front Row announced it had acquired a third charter but did not state how it was obtained. According to people briefed on the situation but not authorized to speak publicly, Front Row’s charter was bought from SHR for an unspecified sum. Front Row had also been considering relocating to SHR’s shop, but that move will no longer happen.
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What becomes of SHR’s two other charters has not been publicly announced, though Trackhouse Racing and 23XI Racing are expected to each acquire one, according to industry sources.
SHR’s current Cup driver lineup consists of Josh Berry, Chase Briscoe, Noah Gragson and Ryan Preece. Briscoe is expected to sign with Joe Gibbs Racing to replace the retiring Martin Truex Jr. next year, according to people briefed on the situation but not authorized to speak publicly. Berry, Gragson and Preece are evaluating their options.
SHR’s current Xfinity driver lineup consists of Cole Custer and Riley Herbst. Custer, the son of team president Joe Custer, is a strong candidate to land the open Cup seat at Haas Factory Team. Herbst is also expected to move to Cup in 2025, though he’s not officially revealed his plans.
(Photo: Song Haiyuan / MB Media/Getty Images)
