Furniture Row Racing will cease operations after the 2018 season

Furniture Row Racing, the defending series champion team and title contender for this year, will not be racing after the 2018 season.

Due to a lack of necessary funding to field a competitive team, Furniture Row Racing will cease operations following the completion of the 2018 Monster Energy NASCAR Cup Series season.

“This is not good for anybody,” said team owner Barney Visser in a release.

“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. I strongly believe that all of our people have enhanced their careers by working at Furniture Row Racing.”

Defending series champion Martin Truex Jr. will need a new team to drive for in 2019. (World Copyright: Rusty Jarrett, NKP)

Martin Truex Jr. joined Furniture Row Racing in 2014 after leaving Michael Waltrip Racing. This will be Truex’s second time in five seasons where he will need to find a ride a new ride with a new team.

Truex won the championship with Furniture Row Racing in 2017 and is in the hunt this season with four wins and 27 playoff points heading into the regular season finale.

Two potential landing spots report for Truex could be Stewart-Haas Racing or Joe Gibbs Racing.

Follow Matt on Twitter @mattlovisa.