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Franchitti's Cup Team Shuts Down

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By TONY FABRIZIO | The Tampa Tribune

Published: July 2, 2008

Dario Franchitti's bid to transition from open-wheel racing star to successful NASCAR driver suffered another major blow Tuesday when he lost his ride.

Team co-owner Chip Ganassi, citing lack of sponsorship, shut down the No. 40 team, laying off all employees except crew chief Steven Lane.

"This is a difficult decision for Felix co-owner Sabates and I that did not come without its share of anguish," Ganassi said in a statement. "In this tough business environment, continuing to run the car without proper funding has become increasingly difficult."

Franchitti's move to NASCAR was announced last fall with considerable fanfare, but the 2007 Indianapolis 500 winner and Indy Racing League champion has struggled mightily as a Sprint Cup rookie.

He ranks 41st in the standings and has started only 10 of the 17 races. A broken ankle sustained in the Nationwide Series race at Talladega in April kept him out of five races, and failing to qualify at Texas and Sonoma cost him two more starts.

The Scotsman's only top-25 finish is a 22nd, on March 30 at Martinsville.

Ganassi said he remains committed to Franchitti's stock car racing development and is in discussions with him about his racing options, which could include running the remaining Nationwide Series races.

Franchitti, 35, has made 10 Nationwide starts this year and has a best finish of sixth, on March 2 at Las Vegas.

Ganassi's two other drivers - former Formula One star and Indy 500 winner Juan Montoya and Reed Sorenson - are ranked 21st and 31st in the points.

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