Rahal Letterman Racing has pulled out of the 2009 IndyCar Series because it cannot find a sponsor to support its program.
RLR becomes the latest racing team to be affected by the reeling economy. The team won the Indianapolis 500 with Buddy Rice in 2004 and brought Danica Patrick to the IndyCar Series.
“At this time Rahal Letterman will not be in the IRL in 2009,” team co-owner Bobby Rahal told The Associated Press in an e-mail today.
The team, which ran one car for American driver Ryan Hunter-Reay last season and won the race last July at Watkins Glen, will continue to seek sponsorship. RLR will concentrate on its sports car alliance with BMW in the American Le Mans Series.
RLR is co-owned by talk-show host and Indiana native David Letterman.
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