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Furniture Row Racing To Cease Operations After 2018 Season
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Monster Energy NASCAR Cup Series championship team Furniture Row Racing has announced it will cease operations after this season, citing a lack of necessary funding.
It’s also being reported by motorsport.com that reigning champion Martin Truex Jr. will move to Joe Gibbs Racing next season. At the end of the 2018 season, Truex will move to JGR along with his current crew chief, Cole Pearn, and one of the sponsors currently on his Furniture Row Racing No. 78 Toyota team—Bass Pro Shops, sources told motorsport.com.
Truex, 38, has already been a pseudo-member of the JGR organization as FRR has been operating with a technical alliance with JGR in recent seasons, the news outlet added.
“I’ve always felt that we could be a competitive team and run for a championship even when it seemed like a pipe dream to many racing insiders,” FRR car owner Barney Visser said in a statement. “But to be successful in any business you need to assemble the right people and make a strong commitment to succeed. We achieved what we set out to do and feel like we climbed Mount Everest. To continue with anything less than a competitive team would not be acceptable. It’s been one incredible ride.”
The announcement comes less than a month after car Visser issued a statement that “not fielding a team in 2019 is not an option and we have every intention of continuing to build on our success for years to come.”
The move also comes after primary sponsor 5-hour Energy announced in July that it would no longer remain in NASCAR after this season. 5-hour Energy is serving as co-primary sponsor of the team with Bass Pro Shops for 30 races this year. Furniture Row Racing was unable to find any income to replace what it would be losing.
“This is not good for anybody,” Visser said in a statement about closing the team down after this season. “The numbers just don’t add up. I would have to borrow money to continue as a competitive team and I’m not going to do that. This was obviously a painful decision to arrive at knowing how it will affect a number of quality and talented people.
“We’ve been aggressively seeking sponsorship to replace 5-hour ENERGY and to offset the rising costs of continuing a team alliance with Joe Gibbs Racing but haven’t had any success. I feel that it’s only proper to make the decision at this time to allow all team members to start seeking employment for next year. I strongly believe that all of our people have enhanced their careers by working at Furniture Row Racing.”
The announcement comes as Martin Truex Jr. sits in third place in the points after winning his first series title last season.
Based in Denver, Colorado, and the only NASCAR Cup Series team headquartered west of the Carolinas, Furniture Row Racing started its NASCAR program in 2005—first as a Xfinity team and later in the same year as a Cup team.
For more information, visit furniturerowracing.furniturerow.com
It’s also being reported by motorsport.com that reigning champion Martin Truex Jr. will move to Joe Gibbs Racing next season. At the end of the 2018 season, Truex will move to JGR along with his current crew chief, Cole Pearn, and one of the sponsors currently on his Furniture Row Racing No. 78 Toyota team—Bass Pro Shops, sources told motorsport.com.
Truex, 38, has already been a pseudo-member of the JGR organization as FRR has been operating with a technical alliance with JGR in recent seasons, the news outlet added.
“I’ve always felt that we could be a competitive team and run for a championship even when it seemed like a pipe dream to many racing insiders,” FRR car owner Barney Visser said in a statement. “But to be successful in any business you need to assemble the right people and make a strong commitment to succeed. We achieved what we set out to do and feel like we climbed Mount Everest. To continue with anything less than a competitive team would not be acceptable. It’s been one incredible ride.”
The announcement comes less than a month after car Visser issued a statement that “not fielding a team in 2019 is not an option and we have every intention of continuing to build on our success for years to come.”
The move also comes after primary sponsor 5-hour Energy announced in July that it would no longer remain in NASCAR after this season. 5-hour Energy is serving as co-primary sponsor of the team with Bass Pro Shops for 30 races this year. Furniture Row Racing was unable to find any income to replace what it would be losing.
“This is not good for anybody,” Visser said in a statement about closing the team down after this season. “The numbers just don’t add up. I would have to borrow money to continue as a competitive team and I’m not going to do that. This was obviously a painful decision to arrive at knowing how it will affect a number of quality and talented people.
“We’ve been aggressively seeking sponsorship to replace 5-hour ENERGY and to offset the rising costs of continuing a team alliance with Joe Gibbs Racing but haven’t had any success. I feel that it’s only proper to make the decision at this time to allow all team members to start seeking employment for next year. I strongly believe that all of our people have enhanced their careers by working at Furniture Row Racing.”
The announcement comes as Martin Truex Jr. sits in third place in the points after winning his first series title last season.
Based in Denver, Colorado, and the only NASCAR Cup Series team headquartered west of the Carolinas, Furniture Row Racing started its NASCAR program in 2005—first as a Xfinity team and later in the same year as a Cup team.
For more information, visit furniturerowracing.furniturerow.com
