Furniture Row Racing to cease operations after 2018 season

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Furniture Row Racing, the reigning Cup championship team, announced Tuesday it will cease operations after this season, citing a lack of necessary funding.

“I’ve always felt that we could be a competitive team and run for a championship even when it seemed like a pipe dream to many racing insiders,” car owner Barney Visser said in a statement. “But to be successful in any business you need to assemble the right people and make a strong commitment to succeed. We achieved what we set out to do and feel like we climbed Mount Everest. To continue with anything less than a competitive team would not be acceptable. It’s been one incredible ride.”

The announcement comes less than a month after car Visser issued a statement that “not fielding a team in 2019 is not an option and we have every intention of continuing to build on our success for years to come.”

The move also comes after primary sponsor 5-hour Energy announced in July that it would no longer remain in NASCAR after this season. 5-hour Energy is serving as co-primary sponsor of the team with Bass Pro Shops for 30 races this year. Furniture Row Racing was unable to find any income to replace what it would be losing.

“This is not good for anybody,” Visser said in a statement about closing the team down after this season. “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.”

This announcement comes as Martin Truex Jr. is third in the points after winning his first series title last season.

Truex, who joined Furniture Row Racing in 2014 as the driver of the No. 78 car, said: “While I am saddened by today’s announcement, I totally understand the decision. Barney Visser, 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.”

With Furniture Row Racing leaving after this season, it will have a charter to sell. That will be among the more valuable charters. Cup charters guarantee a starting spot in each race but also a set amount of money per race. One portion of the team payments is based on performance in the past three years. Furniture Row Racing has made the playoffs each of the past two years and will again make the playoff this season.

Furniture Row Racing, based in Denver, Colorado, started its NASCAR program in 2005 as an Xfinity team before moving to Cup. The team made its Cup debut in Nov. 13, 2005 at Phoenix with Jerry Robertson. He started 43rd and finished 41st, completing 51 laps.

The team’s first Cup victory was by Regan Smith in the 2011 Southern 500 at Darlington Raceway. The team has since scored 17 more wins with Truex, including victories this season at Auto Club Speedway, Pocono Raceway, Sonoma Raceway and Kentucky Speedway. Furniture Row Racing has won 12 of the last 59 Cup races (16.9 percent).

Others who drove for Furniture Row Racing included Erik Jones, Kurt Busch, Kenny Wallace, Joe Nemechek and Jimmy Spencer.

“There are so many people I want to thank because without them winning a championship and being competitive would never have happened: Joe Gibbs Racing for our technical alliance, Toyota and TRD (Toyota Racing Development), Bass Pro Shops, 5-hour ENERGY, Auto-Owners Insurance, Furniture Row and Denver Mattress,” Visser said in a statement from the team.

“A heartfelt thank you to Joe Garone, Martin Truex Jr, Cole Pearn and all of our team members for their talent, dedication and sacrifices they made along the way. To the Furniture Row and Denver Mattress employees I want to express a special thank you for always having my back from the early years of our race team to our championship run.

“I also want to thank the fans, the Denver community, NASCAR, International Speedway Corporation (ISC), Speedway Motorsports Inc. (SMI) and independent track owners for providing and maintaining the venues that we compete at. A special tip of the hat to the media and to NASCAR’s broadcast partners – FOX, NBC, Motor Racing Network (MRN), Performance Racing Network (PRN) and SiriusXM Radio. We’ve always been treated fairly by members of the media and I appreciate their hard work in one of the most demanding schedules in major league sports.”

NASCAR issued a statement Tuesday: “NASCAR wishes the very best to Barney Visser and his family. Barney has been a successful owner and an amazing champion, and his presence will certainly be missed. We look forward to seeing Martin Truex Jr., Cole Pearn and the entire No. 78 team finish the 2018 season strong and competing for another championship. NASCAR will continue to work on growing the sport and working with the race teams on competitive and operational excellence. Much of those efforts have already been put in place, and will continue to be a focus.”

Car owner Joe Gibbs, whose team is aligned with Furniture Row Racing, said in a statement: “We have a great partnership with Barney and everyone at Furniture Row Racing. It’s unfortunate that they will not be continuing after this season and I know it was a difficult decision for them. They have accomplished so much and I know they would like nothing more than to win another championship this season.”

In a statement, Laura Pierce, General Manager for Motorsports, Toyota Motor North America (TMNA) said: “We want to thank Barney Visser, Joe Garone, Martin, Cole and everyone at Furniture Row Racing for a successful partnership over the past few years. The team’s dedication and hard work in the sport was instrumental to our racing family as they helped us win our first NASCAR Cup Series manufacturer’s championships as well as reach the pinnacle of the sport with last year’s championship. We look forward to continuing to work with the Furniture Row Racing team as they defend their championship in the upcoming playoffs.”

John Hunter Nemechek earns first Xfinity Series win

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John Hunter Nemechek bounced back from two pit stop miscues in the last 50 laps to earn his first Xfinity Series win Saturday at Kansas Speedway.

Nemechek, 21, led the final 30 laps. That was after he went from fifth to first on the final restart with 32 laps to go.

The son of former Cup driver Joe Nemechek earned the win in his 15th start.

Nemechek had to pass Daniel Hemric, who finished second after leading 128 laps.

“It means a lot, especially at Kansas,” Nemechek told NBC. “(In) 2004, I forget how old I was. But dad swept the weekend in the Xfinity Series and the Cup Series. It’s pretty special.”

The top five was completed by Elliott Sadler, Shane Lee and Tyler Reddick.

Nemechek pitted with Hemric with 50 laps to go and slid through his pit box. He left pit road three seconds behind Hemric.

When the final caution waved with 36 laps to go, Nemechek had to pit twice to tighten lug nuts.

“When that caution came I knew we had a chance,” Nemechek told NBC. “Luckily Daniel and I raced each other hard and clean all day. We got the track position and this thing was unreal to the end.”

When Nemechek took the checkered flag, he led Hemric by roughly five seconds. Hemric said he had a vibration over the last 15 laps.

STAGE 1 WINNER: Daniel Hemric

STAGE 2 WINNER: John Hunter Nemechek

WHO HAD A GOOD RACE: Elliott Sadler earned his best finish since the July Daytona race (second) … Shane Lee placed fourth for his career-best finish … Tyler Reddick earned his first top five of the playoffs … Ryan Sieg placed ninth for his second top 10 of the season.

WHO HAD A BAD RACE: Playoff contenders Cole Custer, Justin Allgaier, Austin Cindric and Christopher Bell were all involved in an eight-car wreck on Lap 1. Only Custer finished the race (26th) … Brandon Jones was eliminated via a one-car incident on the ensuing restart … After being involved in the Lap 1 crash, Spencer Gallagher was eliminated in one-car incident on Lap 26 … After Bell and Jones, Ryan Preece completed the Joe Gibbs Racing trifecta. He was involved in an incident on the last lap of Stage 2 when he was turned from contact with Joey Gase. Preece finished 21st.

NOTABLE: John Hunter Nemechek is the third driver to earn his first Xfinity win of the season (Ross Chastain, Spencer Gallagher).

WHAT’S NEXT: O’Reilly Auto Parts 300 at Texas Motor Speedway at 3:30 p.m. ET on Nov. 3. on NBCSN.

Video: Xfinity playoff contenders out after Lap 1 crash at Kansas

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Three of the eight playoff contenders were eliminated in a crash on the first lap of Saturday’s Xfinity race at Kansas Speedway, which opens the Round of 8.

Justin Allgaier, Christopher Bell, Austin Cindric and Cole Custer were involved in a nine-car wreck as the field raced through Turn 2. Allgaier, Bell and Cindric were eliminated while Custer’s team was able to make repairs to his No. 00 Ford.

It began when Allgaier got loose and made contact with Bell.

“Just hate it for everybody that we took out on Lap 1. It’s uncalled for, ” Allgaier told NBC. “That one’s on me.”

Bell, who won this race last year, told NBC he “didn’t really see much of anything” as the wreck developed. “Just heartbroken. This is one of my favorite race tracks we go to. Especially after the run I had last year. This was the race I was really looking forward to when we started the year back in February.”

Allgaier earned his second DNF of the playoffs while Bell and Cindric earned their first.

“It was just a racing incident,” Cindric said. “You don’t really expect something that big to happen in front of you on the first lap. … It is unfortunate that it happened that early. Huge points implications on my end and the owners championship end. I have to put my head down the next couple weeks and figure it out.”

Non-playoff drivers Michael Annett, Ryan Truex, Spencer Gallagher and Chase Briscoe were also involved.

The race restarted on Lap 12. The field was immediately slowed by a one-car incident involving Brandon Jones on the backstretch.

Kurt Busch fastest in final Cup practice at Kansas

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Kurt Busch led the way in the final practice session for Sunday’s Cup race at Kansas Speedway (2 p.m. ET on NBC).

The Stewart-Haas Racing driver posted a top speed of 186.226 mph.

The top five was completed by Erik Jones (186.104 mph), Aric Almirola (185.842), Kyle Busch (185.471) and Paul Menard (185.446).

MORE: Aric Almirola fastest in Saturday’s early practice

There were no incidents in the session.

Joey Logano, who was 12th fastest, recorded the most laps with 67.

Kyle Busch had the best 10-lap average at 183.094 mph.

Click here for the speed chart.

Daniel Hemric wins Xfinity pole at Kansas Speedway

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Daniel Hemric won the pole for today’s Xfinity Series race at Kansas Speedway (3 p.m. ET on NBC).

Hemric claimed his fourth pole of the year with a top speed of 183.955 mph.

The top five was completed by Christopher Bell (182.784 mph), Justin Allgaier (182.426), Austin Cindric (182.254) and Brandon Jones. (182.254).

The top 10 was rounded out by Tyler Reddick, Ryan Preece, Shane Lee, Matt Tifft and Cole Custer.

In Round 2 John Hunter Nemechek qualified 13th. He was followed by Ryan Truex, Michael Annett, Ryan Reed, Spencer Gallagher and Ty Majeski.

Round 1 had a lengthy red flag with 1:05 left in it for fluid on the track. That allowed Reed, Truex and John Nemechek’s cars to get through inspection and make a lap.

Click here for the starting lineup.