Newman/Haas Racing, one of the "most successful teams in the history of Indy car racing, announced its withdrawal from the IndyCar Series on Thursday," according to John Oreovicz of ESPN.com. Team Owner Carl Haas said, "The economic climate no longer enables Newman/Haas Racing to participate in open wheel racing at this time." Like many teams, Newman/Haas "struggled to find sponsorship in recent years." That challenge "increased after [co-Owner Paul] Newman's death in 2008" (ESPN.com, 12/1). The AP's Michael Marot noted Newman/Haas driver Oriol Servia's "primary sponsor in 2011 was Telemundo," while the team's other driver, James Hinchcliffe, was "sponsored by Sprott Asset Management, a Canadian financial company." Though Newman/Haas' statement "did not mention either sponsor, both drivers are now looking for new jobs." Marot noted the announcement "leaves some wiggle room for the team to get back into the series this season if it can find sponsorship" (AP, 12/1). There are "40 or so full-time employees of the team who now find themselves out of their jobs" (THESTAR.com, 12/1).
