The conclusion of the 2024 NASCAR season will not only mark the end of intense races but also the closure of Stewart-Haas Racing. Founded before the 2009 season by racing legends Tony Stewart and Gene Haas, SHR will shut down operations, resulting in 323 layoffs, according to a report from Businessnc.com. This marks a significant shift in the NASCAR landscape and the end of an era for a team that has left a remarkable legacy in the sport.
Over its nearly fifteen-year span, SHR has claimed 69 race victories, the most recent being in November 2022. The team, based in Kannapolis, has had a strong presence in NASCAR, running a four-car team in the Cup Series and fielding two additional entries in the Xfinity Series. The decision to close down comes as a surprise to many fans and industry insiders, given the team's past successes and competitive nature.
However, Gene Haas, post-SHR, has announced the new Haas Factory Team, which will start competing in 2025, but on a much smaller scale. This new venture will manage one car in the Cup Series and two in the Xfinity Series but will employ significantly fewer people—only around 90 to 100. The impending layoffs have left many employees facing uncertainty, and some may transition to the new team, which is a small consolation amidst the drastic reduction in workforce.
In response, SHR has begun conducting informational meetings to guide employees through closure procedures, discussing severance packages and benefits, with more sessions planned. Racing veterans and SHR founders, Tony Stewart and Gene Haas, revealed the reasons behind their decision to close the team in a joint statement earlier this year. It stated, as Newsweek previously reported:
“We have made the difficult decision to close Stewart-Haas Racing at the conclusion of the 2024 season. It is a decision that did not come easily, nor was it made quickly. Racing is a labor-intensive, humbling sport. It requires unwavering commitment and vast resources, with a 365-day mindset to be better than everyone else. It’s part of what makes success so rewarding.”
“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.” Layoffs are scheduled to commence on November 11, immediately following the NASCAR season finale at Phoenix Raceway. As SHR’s operations wind down, the current lineup featuring drivers Josh Berry, Noah Gragson, Chase Briscoe, and Ryan Preece in the Cup Series, will need to secure their next moves.
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