NASCAR Cup Series: Furniture Row Racing shutting down after 2018

Furniture Row Racing are set to shut down following the conclusion of the 2018 NASCAR Cup Series season after speculation that they would do so.

There has been a lot of speculation over the last few weeks that Furniture Row Racing would end up closing after the 2018 NASCAR Cup Series season comes to an end given the fact that 5-hour ENERGY, their $10 million sponsor, are set to leave the sport at the end of this season.

However, team owner Barney Visser previously shot down those rumors. But defending Cup Series champion Martin Truex Jr., the team’s lone driver, admitted that the team needed to come up with additional sponsorship in order to continue to field the #78 Toyota in the 2019 season and beyond.

Now it has been confirmed that the Denver, Colorado-based team will be shutting down their operations after the 2018 season concludes. Here is what Visser had to say about the matter, according to ESPN.

"“This is not good for anybody. The numbers just don’t add up. I would have to borrow money to continue as a competitive team and I’m not going to do that. This was obviously a painful decision to arrive at knowing how it will affect a number of quality and talented people.“We’ve been aggressively seeking sponsorship to replace 5-hour Energy and to offset the rising costs of continuing a team alliance with Joe Gibbs Racing but haven’t had any success. I feel that it’s only proper to make the decision at this time to allow all team members to start seeking employment for next year.”"

Here is what Truex Jr. had to say about the matter, according to ESPN.

"“While I am saddened by today’s announcement, I totally understand the decision. Barney Visser, [general manager] Joe Garone and the entire Furniture Row Racing team took me in while my career was in a bad place, and together we reached the pinnacle of the sport. I will forever be grateful to each and every one of them, and also to Furniture Row, Denver Mattress and the Visser family.“But make no mistake, this is not the immediate end. We still have unfinished business to attend to and that’s to give everything we have to successfully defend our Monster Energy NASCAR Cup Series championship. Right now that is foremost on my mind as it is with the entire team.”"

Furniture Row Racing opened in the 2005 season, although they did not field a full-time entry until the 2006 season. In every season from the 2006 season through the 2016 season except for the 2009 season, they fielded one full-time entry, the #78 Toyota.