Furniture Row Racing’s rise to NASCAR prominence has come to an end. Less than one year after winning the Cup Series championship with Martin Truex Jr., the one-car team out of Colorado has decided to close up shop.
Despite Truex contending for a second-consecutive championship in the No. 78 this season, the team took a huge blow earlier in 2018 when it was announced that primary sponsor 5-hour Energy would not return for 2019.
“This is not good for anybody,” team owner Barney Visser said in a statement. “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.”
What does this mean for the 2017 NASCAR Cup Series champion Truex? Well, all signs lead to him joining Joe Gibbs Racing in the No. 19 car, currently driven by Daniel Suarez. Adam Stern of SportsBusiness Journal has reported that Truex and JGR have spoken in regards to contract talks, although nothing is concrete just yet.
A potential Truex move to the No. 19 would also leave Suarez without a ride for 2019. CBS Sports has learned that Leavine Family Racing — on the heels of losing retiring driver Kasey Kahne — could be a potential fit, as the team is interested in moving from Chevrolet to Toyota next season.
Regardless, this is a major blow to NASCAR, as one of its most successful teams in recent memory is being forced to close its doors due to lack of funding. While COO Steve Phelps has reiterated multiple times that NASCAR is thriving and bringing in more sponsors than ever, this directly counters those statements.
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