Lack of funding forces Ganassi to shut down 40

Chip Ganassi Racing officials announced Tuesday the team will shut down the No. 40 Sprint Cup Series entry driven by rookie Dario Franchitti, effective immediately.

The team cited a "lack of sponsorship funding" for cutting back the No. 40 team. Ganassi's No. 41, driven by Reed Sorenson, and the No. 42, driven by Montoya, will remain full-time.

Franchitti

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

Ganassi officials said they are "committed to Franchitti's continued stock-car development."

Franchitti, the reigning Indy Racing League champion, moved to NASCAR for 2008 but has struggled, failing to qualify for two races and posting a best finish of 22nd in March at Martinsville Speedway.

Franchitti missed five Cup races because of a broken ankle suffered in a wreck during the Nationwide Series race at Talladega Superspeedway.

The No. 40 team is 40th in Sprint Cup owners points and does not have a guaranteed starting spot week to week. Currently, the 42 car is 21st in owner points while the 41 car is sitting 31st in the standings.

Ganassi officials also said they are talking with Franchitti about his future, "which could include running the balance of the 2008 Nationwide season in the No. 40 Fastenal Dodge." Franchitti has made 10 starts in that series this year, with a best finish of sixth at Las Vegas.