Newman/Haas Racing, which has been a mainstay in Indy car racing since its founding in 1983 by Carl Haas and Paul Newman, announced that it will not enter cars in the 2012 IZOD IndyCar Series.
“The economic climate no longer enables Newman/Haas Racing to participate in open-wheel racing at this time,” Haas said in a statement.
The team has earned eight championships in CART/Champ Car with Mario Andretti (1984), Michael Andretti (1991), Nigel Mansell (1993), Cristiano da Matta (2002) and Sebastien Bourdais (2004, 2005, 2006 and 2007). It accumulated 107 race victories and 109 pole positions.
The team joined the IndyCar Series full time in 2008. In September of the same year, co-owner Newman passed away.
This past season, Oriol Servia finished fourth in the IZOD IndyCar Series championship and James Hinchcliffe earned the Sunoco Rookie of the Year award.