KV Racing Technology has officially shut down as IndyCar and major series motorsports loses yet another small team.
KV Racing Technology was founded in January 2003 and joined the IndyCar Series in 2008. The Indianapolis based team is owned by successful venture capitalist Kevin Kalkhoven and 1996 IndyCar champion Jimmy Vasser. During 14 season of IndyCar competition the team made 464 starts winning seven races (five in the last four seasons) including the 2013 Indianapolis 500. It placed on the podium 29 times with 76 top-five finishes, 182 top-10 showings and eight poles.
KV Racing Technology co-owners Kevin Kalkhoven and Jimmy Vasser issued the following statements:
“I want to thank all those who have written to express their appreciation of the efforts of KV Racing Technology during the last 14 years,” said Kalkhoven. “However as I approach 73, I feel I can no longer give the team the effort and support it and the team members deserve.
“I have really enjoyed my time in the series, helping with reunification and of course winning the greatest spectacle in racing… the Indianapolis 500!
“It is my firm belief that the series is on a major upswing under the leadership of Mark Miles and Jay Frye and has a bright future. I remain committed to help in any way I can, particularly in encouraging new owners and sponsors. In particular Ricardo Juncos, to whom we will be offering our support.
“To all the fans who follow the series, and cheered for KVRT, my heartfelt thanks and please spread the good word about the fantastic sport we have “
Vasser said, “First and foremost I want to thank all the fans who have supported the team over the years. I also want to thank Kevin Kalkhoven for giving me the special and unique opportunity to transition from a driver to a team owner while I was still driving
“I am very proud to have been a part of this team and I will always cherish all the great people and drivers we worked side-by-side with to achieve our successes.
“It has been a journey of many ups and downs, but I will always remember winning the 2013 Indy 500.
“IndyCar racing has been a part of my life for 25 years, it is in my soul and it will be interesting to see where it takes me from here.”
Sebastien Bourdais was the team's driver over the past several seasons. Bourdais made the switch to Dale Coyne Racing during the off-season.
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