NASCAR Rumors: Gene Haas' Stewart-Haas Racing to reportedly continue its operations at Kannapolis campus after Tony Stewart's exit

With Stewart-Haas Racing set to complete the sale of multiple charters at the end of the season and cease its operations, latest reports suggest that the rebranded Haas Factory Team is set to continue its operations at the Kannapolis campus.

After weeks of speculations, the news was made official when two-time NASCAR Cup Series champion outfit Stewart-Haas Racing announced its discontinuation from the sport at the end of the ongoing campaign. SHR, owned by Tony Stewart and Gene Haas, had undergone financial turmoil following the departures of key drivers Kevin Harvick and Aric Almirola last season.

The dissolution of the team has led to reports of the sale of its charters, with rival teams quickly moving to acquire these valuable assets. Among the leading contenders to purchase SHR's charters is Front Row Motorsports.

However, in a twist to the saga, it was confirmed on Thursday that Gene Haas would retain one of Stewart-Haas Racing's Cup Series charters for the next season. This charter will be operated under the new banner of the Haas Factory Team.

Eminent journalist Bob Pockrass has provided further details on the developments through his X (formerly Twitter) account. Pockrass reported that along with retaining one Cup charter, Gene Haas plans to run two Xfinity Series cars under the Haas Factory Team banner, all based out of the SHR shop.

Pockrass' tweet read:

"Along with Gene Haas committing to one Cup team (retaining one of the SHR charters) and two Xfinity cars all out of the SHR shop under Haas Factory Team banner, Front Row Motorsports is now not planning on relocating to SHR campus."

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What did Gene Haas say after the announcement of Stewart-Haas Racing's rebranding?

Discussing the rebranding and his plans in motorsports, Gene Haas stated via a press release (via Autosport):

"My commitment to motorsports hasn’t changed, just the scope of my involvement. Operating a four-car Cup Series team has become too arduous but, at the same time, I still need a platform to promote Haas Automation and grow HaasTooling.com."

He added:

"Maintaining my presence in Cup allows Haas Automation to compete at NASCAR’s highest level, which is important to our customers and distributors. The Xfinity Series program provides a full weekend experience for our guests, and it delivers added depth and scale to our overall operation."

Alongside Stewart-Haas Racing, Gene Haas owns and operates the Formula 1 outfit Haas. Both the teams are based and headquartered in Kannapolis, North Carolina.