A team that has been lingering around NASCAR’s Premier Series in recent years will no longer be present at the race track.

ESPN’s Bob Pockrass is reporting, that HScott Motorsports has suspended its NASCAR operation and will not compete in 2017 in NASCAR’s professional series.

“Over the past several months I considered a number of options for moving forward with the team,” team owner Harry Scott stated. “Regrettably there are no viable sponsor/driver options immediately available to allow the team to participate in 2017. One thing I learned about NASCAR is that it is a ‘people business.’ I will forever be grateful to the men and women who worked tirelessly to make HScott Racing successful.”

Scott, who also fields multiple teams in NASCAR’s K&N Series and has seen great success, also announced that he will not field any teams in the up-and-comers series either.

D1604BMSS2267ACR.jpg
Scott and Clint Bowyer recently settled a $2.2 million lawsuit against Scott over missed payments to Bowyer

“I love this sport and being part of it. “I invested in NASCAR because I truly believe it represents the best racing competition in the world and the best people in all sports,” Scott said. “Looking back, I will always be especially proud of the unprecedented success of our NASCAR K&N Series teams, including four consecutive championships and for the lifelong friendships that were forged over the last seven years. My hope is that we were able to develop drivers that will thrive at the highest levels for years to come.”

Finances are a huge factor in determining success in NASCAR, and not only do small teams struggle.  After losing nearly all sponsorship for the No. 16 team, Roush Fenway Racing closed down the No. 16 team this offseason, and will now field only two cars in 2017.

As far as the No. 46 team’s charter — NASCAR’s version of a franchise that guarantees entry into every race — Furniture Row Racing has acquired the charter, therefore Erik Jones’ will be granted entry into every NASCAR Premier Series points-paying race. Premium Motorsports has acquired the No. 15 team’s charter, confirmed that Premium plans to field at least one full-time ride next season.

HScott’s 2016 drivers have already announced their plans for next season. Clint Bowyer will head over to Stewart-Haas Racing to pilot the #14 Ford, and Michael Annett and sponsor Pilot/Flying J are heading to the NASCAR XFINITY Series with JRM.