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Marketing and Sponsorship

Raid Of Sponsor HQ Leads To Shutdown Of Ganassi Xfinity Team

DC Solar was set to pay for most of the team's budget for the '19 Xfinity Series seasonGETTY IMAGES

Chip Ganassi Racing is shutting down its No. 42 NASCAR Xfinity Series ride after sponsor DC Solar's HQ was raided by the FBI late last month. Ganassi was set to run the No. 42 this year with driver Ross Chastain. DC Solar was set to pay for most, if not all, of the program’s budget, which typically costs $5M annually. It appears that funding is now unlikely to come either in time for this season or at all. The move, announced Friday, comes after Roush Fenway Racing on Thursday confirmed it will not run in the Xfinity Series this year due to similar funding issues. DC Solar’s HQ was raided along with the house of company President & CEO Jeff Carpoff as part of an apparent dispute with the IRS. DC Solar has also served as a sponsor of the team’s No. 42 car in the Monster Energy NASCAR Cup Series, but that car has several other sponsors, and the team said it will not be affected by the DC Solar issue (Adam Stern, THE DAILY).

DIFFICULT SITUATION: The Ganassi Xfinity team "won six races last season." Team owner Chip Ganassi said his decision "comes with much anguish as this is a championship-caliber team and more importantly because it affects a number of good people's livelihoods." However, he added running a car without proper funding is "difficult to do" (AP, 1/4). A Ganassi spokesperson said that Chastain "was free to drive for another NASCAR team but 'is still tied to us.'" MOTORSPORT.com's Jim Utter noted CGR "made clear" that its Monster Energy Cup Series teams with Kyle Larson and Kurt Busch "will not be affected" (MOTORSPORT.com, 1/4). YAHOO SPORTS' Nick Bromberg noted the Xfinity Series is "losing cars at an alarming rate" to start the '19 season (SPORTS.YAHOO.com, 1/4).

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