Ganassi Racing to shut down Xfinity Series team

CONCORD, N.C. -- Chip Ganassi Racing will shut down its Xfinity Series team, which won six races with three different drivers in 2018, because of a lack of sponsorship.

The team had announced in November that Ross Chastain, a watermelon farmer who had toiled in the series for several years and won for Ganassi at Las Vegas in September, would drive the car full-time in 2019 with sponsorship from DC Solar. Last month, DC Solar's headquarters and the home of company owner Jeff Carpoff were searched, and items were seized by FBI agents. The FBI has not commented on the reason for the search.

"Due to a lack of sponsorship funding, we will cease operation of the No. 42 Xfinity team in 2019," team owner Chip Ganassi said in a statement. "This was a difficult decision for me to make, and it comes with much anguish, 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."

Ganassi said its NASCAR Cup Series teams of Kyle Larson and Kurt Busch won't be impacted. DC Solar also sponsored select races on the Cup side.