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Paul Newman, right, jokes with fellow car owner Carl Haas

Paul Newman, right, jokes with fellow car owner Carl Haas after one of their drivers, Justin Wilson, of England, qualified for the Indianapolis 500 auto race at Indianapolis Motor Speedway in 2008. (AP Photo/Seth Rossman)

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Newman-Haas race team leaving IndyCar in 2012

Updated: Thursday, 01 Dec 2011, 5:16 PM EST
Published : Thursday, 01 Dec 2011, 5:16 PM EST

INDIANAPOLIS (AP) — The IndyCar Series is losing one of its biggest team names.

Newman-Haas Racing, the team that carried the name of late actor Paul Newman, has decided not to enter cars for the 2012 season.

In a statement issued on Thursday, team officials said the economic climate no longer enables the team to compete.

The team had competed in an open-wheel series every year since 1983, and had won eight championships, 107 races and 109 pole positions. Drivers for the team included some of the biggest in the series: Mario and Michael Andretti, Nigel Mansell and Paul Tracy. This year, Oriol Servia of Spain finished fourth in the points for Newman-Haas and James Hinchcliffe of Canada was named the series' rookie of the year.

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