Denny Hamlin breaks down “the big financial hit” that made Tony Stewart to exit NASCAR

Denny Hamlin gave his verdict on the future of Stewart Haas Racing.

Denny Hamlin breaks down “the big financial hit” that made Tony Stewart to exit NASCAR

Denny Hamlin and Tony Stewart (Via IMAGO)

The NASCAR Community was shocked when it was announced by Tony Stewart and Gene Haas that that they will cease the operations of Stewart Haas Racing at the end of this season. They have already started the selling of their charters and their drivers and top crew members are looking for new teams as well.

Recently three times Daytona 500 winner Denny Hamlin, while discussing the SHR exit highlighted the financial factors that made them to make the tough call. He pointed out that the deal they have with Ford coming to an end this season is huge financial hit for the team, as manufacturer support plays a huge part in success for the teams.

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The second issue he highlighted in the loss of sponsors. Unlike in the past where they have had Kevin Harvick, SHR is struggling to hold on to their sponsors and has also failed to attract new deals. Because of this pattern and having to spend money constantly, made them decide to just sit back and let the show go on.   

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They had their Ford deal that ran up at the end of this year. That was gonna be a big financial hit. Sponsorship wasn’t flowing out of its ears at the organization. And so, versus Gene and Tony just keep putting more money into this and keep sinking money into it to put on NASCAR’s show, I think they said screw this, we’re out. We’re not gonna sit here and go under financial water just to keep your show going. That doesn’t make sense to us.
Denny Hamlin said via Action Detrimental.

Denny Hamlin gives his verdict on future od SHR employees

Four Cup Series crews and a number of engineers will lose their jobs at the end of the season. While discussing about it, Hamlin highlighted that the good ones from the SHR group will easily get a new job at other teams, as many teams expanding their operations.

Denny Hamlin
Denny Hamlin (Via IMAGO)
They made a decision and it’s gonna leave a bunch of people unemployed. But I think the good ones will find homes certainly. And there will be teams that expand and try to get some of the good employees out of there.
Denny Hamlin said.

As Denny Hamlin suggested, it won’t be hard for top-SHR guys to get a new job in the sport, but for the average performing employee’s it would be hard days ahead. It would be interesting to see how the silly season will playout in the Cup series.

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