Tony George closed the door on his Vision Racing team on Thursday, cutting the final link he had to the racing series he started almost two decades ago.
George, who co-owned the team with his wife and actor Patrick Dempsey, told the staff at Vision that the team was closing its doors due to a lack of sponsorship.
"We're suspending operations, but I don't know fully what that means," said Ed Carpenter, George's grandson and driver for the team told the Indianapolis Star. "We're still pursuing opportunities to resume operations."
This was the latest setback for George who was asked to resign his post as CEO of the Indianapolis Motor Speedway last year. He subsequently stepped down as the CEO of the Indy Racing League, which he founded in 1996 as an alternative to the rival CART series. Last week, George resigned his remaing position on the board of directors at IMS.
Vision Racing was formed in 2005 out of the ashes of Kelley Racing. The team featured a revolving door of drivers which included the likes of Tomas Scheckter, A.J. Foyt IV, Ryan Hunter-Reay, Davey Hamilton and Paul Tracy. The only constant was grandson Ed Carpenter, who recorded the team's best result last year - a second place finish behind Ryan Briscoe at Kentucky.