The de Ferran Dragon Racing team will no longer take part in the IndyCar Series this year, following news of its exit from the championship after failing to find the required money to compete. Co-owner of the team Gil de Ferran revealed that a lack of investors was the reason behind the squad’s closure on Thursday.
"We worked hard to fund this thing and tried everything we could but, at the end of the day, we just couldn’t raise enough funds to do it properly," de Ferran explained to Speed TV after announcing the closure of his team - a joint venture with Stephen J. Luczo and Jay Penske - ahead of the upcoming season.
Tony Kanaan also commented on the official announcement, with the Brazilian driver revealing on Wednesday that he was without a drive after sponsorship plans had fallen through. The 36-year-old made the switch to de Ferran’s outfit in December last year, but is now without a seat on the grid for the 2011 campaign.
"It’s a shame because we worked really hard the past couple months to try and find funding and I had 88 meetings with people looking for sponsorship," Kanaan said. "I had never been on that side before and now I know how fortunate I’ve been all this time to have a good deal.
"I’m available, I’m not going to give up. I had offers to stay in Brazil and drive stock cars and Kyle Busch still wants me to drive his truck but I want to be in Indy car. I’ve still got the talent and the desire, I just need a ride."
Related article: 'Kanaan loses IndyCar drive with de Ferran'
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