Franchitti to be demoted to training series

Dario Franchitti, from Indy 500 and Indy Car champion to obscurity

Dario Franchitti turned his back on Indy Car racing and now he may be on the unemployment line, or worse yet, demoted to the more obscure Nationwide Series. Chip Ganassi Racing officials announced Tuesday the team will shut down the No. 40 Sprint Cup Series entry effective immediately.

The team cited a “lack of sponsorship funding" for cutting back the No. 40 team. Ganassi’s No. 41 driven by Reed Sorenson and the No. 42 driven by Juan Pablo Montoya will remain full time.

“This is a difficult decision for [co-owner] Felix [Sabates] and I that did not come without its share of anguish," Ganassi said in a news release. “In this tough business environment, continuing to run the car without proper funding has become increasingly difficult."

Ganassi officials also said they are talking with Franchitti about his future, “which could include running the balance of the 2008 Nationwide season in the No. 40 Fastenal Dodge." Franchitti has made 10 starts in that series this year, with a best finish of sixth at Las Vegas.

Full Press Release

Chip Ganassi Racing with Felix Sabates (CGRFS) announced today that due to a lack of sponsorship funding it will cease operation of the team's #40 Sprint Cup Series (NSCS) Dodge driven by Dario Franchitti beginning this weekend in Daytona. "This is a difficult decision for Felix and I that did not come without its share of anguish," said Team Owner Chip Ganassi.

"In this tough business environment continuing to run the car without proper funding has become increasingly difficult." CGRFS is committed to Franchitti's continued stockcar development and are currently in discussions with him on his racing options with the team which could include running the balance of the 2008 Nationwide season in the #40 Fastenal Dodge.

Currently the #42 Texaco/Havoline/Juicy Fruit Dodge of Juan Pablo Montoya is 21st in owner points while the #41 Target Dodge driven by Reed Sorenson is sitting 31st in the standings. CGRFS PR