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 |  Dec 05 2011, 4:30 PM

Legendary racing outfit Newman/Haas is closing its doors after nearly 30 years in business, after the team failed to find sponsorship for the coming season.

Founded by Carl Haas and actor Paul Newman, the team had a solid record throughout its life – with 107 wins and 8 championships – but never managed to win an Indy 500 victory. Drivers like Nigel Mansell, Sebastian Bourdais, Mario Andretti and Paul Tracy were some of the top-name talent that drove for the team during its heyday.

With Newman’s death in 2008 and Haas reportedly ailing, the team’s closure seems inevitable, but does not bode well for the Indy Car series.