Ganassi shuts down Franchitti's No. 40 car

Jul 1, 2008 - 9:22 PM CONCORD, North Carolina (Ticker) -- Dario Franchitti is without a NASCAR Sprint Cup Series ride.

Chip Ganassi Racing with Felix Sabates on Tuesday announced that due to a lack of sponsorship, it will immediately cease operation of the team's No. 40 Dodge driven by Franchitti prior to this weekend's race in Daytona.

"This is a difficult decision for Felix and I that did not come without its share of anguish," Ganassi said. "In this tough business environment, continuing to run the car without proper funding has become increasingly difficult."

Longtime sponsor Coors Light left at the end of last season, and Ganassi was unable to secure funding for Franchitti.

Franchitti, the reigning IndyCar Series champion and 2007 Indianapolis 500 winner, is still expected to run the balance of the 2008 Nationwide season in the No. 40 Dodge.

Franchitti missed several races this season, including five for a a broken ankle, and he failed to qualify at Fort Worth and Sonoma. In just 10 events this season, Franchitti's best result came March 30 at Martinsville, where he finished 22nd.

Franchitti currently sits 41st in the Sprint Cup Series points standings.

Other Ganassi entries, the No. 42 Dodge of Juan Montoya and the No. 41 Dodge driven by Reed Sorenson are 21st and 31st in the standings, respectively.

The No. 40 was made famous by Sterling Marlin, who led the 2002 points standings for 25 straight weeks, holding a triple-digit advantage through most of the run.

Marlin lost the points lead to Mark Martin after the September race in New Hampshire and stood fourth in points going into the race at Kansas Speedway, where he crashed and suffered a severe neck injury, causing him to miss the remainder of the season.

Marlin's replacement, Jamie McMurray, won the fall Charlotte race in his second start. Marlin finished 18th in the final standings that season despite missing the final seven races. Marlin was replaced by David Stremme for the 2006 season.