Despite declaring with business partner Tony Stewart that Stewart Haas Racing will close at the conclusion of the 2024 season, Gene Haas allegedly has no plans to sell his Formula One team.

With four charters in their possession and Josh Berry, Noah Gragson, Chase Briscoe, and Ryan Preece all 16th or lower in the standings, the owners have decided to close both the team and the Xfinity Series operation. The two-time Cup Series champions have 69 wins under their belt in their 15 years in the sport.

Stewart and Haas gave the following explanation for their decision to leave NASCAR: “We have made the difficult decision to close Stewart-Haas Racing at the conclusion of the 2024 season.” This was not a decision that was made hastily or easily.

“Racing is a humble, labor-intensive activity. To be better than everyone else, you need a 365-day attitude, a lot of resources, and an unshakeable devotion. It’s a big part of what makes achievement so satisfying.

Questions over his faltering F1 operation were raised by this move as well as Haas’s assertion that he was reluctant to sponsor the team. The squad from North Carolina has had a decent start to the 2024 season, picking up seven points from the first eight races, but as long as Gene decides not to increase funds, their full potential will stay unrealized.

Since their riveting 2018 campaign, Haas has earned a reputation as steadfast backmarkers, so questions about Gene’s future and dedication to the project have been raised on a regular basis. Many have conjectured that a buyout may be imminent given that Andretti is seeking a way onto the grid and the team is currently headquartered in America.

Nevertheless, in light of his NASCAR decision, Haas has no intention of selling the team outright or withdrawing his investment in the F1 endeavor, according to a story by Associated Press journalist Jenna Fryer.

This will throw a wrench in the works for Andretti, who was urged to drop their intention to enter Formula One as an eleventh team and instead purchase an already-existing team that is struggling, like Alpine or Haas, after the Monaco Grand Prix.

Mohammed Ben Sulayem, the president of the FIA, stated these things. “Instead of coming in as the eleventh team, I would suggest that they go acquire another franchise. I think it’s time for some teams to get new members. Which is superior? To have 10 strong teams or 11 teams as a number? We still ought to have more teams, in my opinion. but none of the teams. the appropriate groups.