Two championship caliber drivers and several team members are now left without a job after Red Horse Racing has unexpectedly shut down.
An official announcement has not yet been made, but several media outlets have reported the announcement, and team owner Tom DeLoach confirmed to Motorsport.com that the team was shutting down due to “lack of funding.”
Over the last 13 years in the NASCAR Camping World Truck Series, DeLoach has largely funded the team out of his own pocket with very little help from corporate sponsors. The team, who has been wildly successful in its 13-year bout in the Truck Series, was no longer sustainable from a financial standpoint, forcing the team to shut its doors.
Timothy Peters, who was sixth in points and just finished fifth at Charlotte Motor Speedway last Friday, and 2015 Monster Energy NASCAR Cup Series Rookie of the Year Brett Moffitt are now without a ride, even while in playoff contention.
Red Horse Racing has visited victory lane a total of 16 times in the Truck Series. Peters has scored 10 of the 16 wins, while Moffitt picked up the team’s last win at Michigan International Speedway last August.