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Michael Waltrip Racing downsizing, releases Bowyer from pact

MWR announces it won't race full time in Sprint Cup next year.

AT MICHAEL WALTRIP Racing, they're preparing to hang an "Out of Business" sign on the front door.

Co-owner Rob Kauffman announced yesterday that MWR will not field any full-time teams in the 2016 Sprint Cup series. Clint Bowyer (16th in Chase points) was released from his contract to pursue a new job, but he and David Ragan (24th overall) are allowed to finish the season as MWR's Cup drivers. Bowyer's multiyear contract extension with MWR began this season, but Ragan was signed only through 2015.

Kauffman recently announced he was buying part ownership of Ganassi Racing with drivers Jamie McMurray and Kyle Larson.

Said Michael Waltrip: "Rob joined MWR in 2007 and has helped give us the resources to build a competitive race team, and in 2012, Clint Bowyer took us to the doorstep of a championship. From where MWR started behind my house in Sherrill's Ford [N.C.] to winning Sprint Cup races, poles and earning Chase berths, I am proud of what we accomplished. My family has been a part of NASCAR for almost five decades and I plan on being a part of it for years to come."

Waltrip, a former Cup series driver, has also been a TV racing analyst for Fox Sports.