From Agence France-Presse

Ford Motor Co., a backer of Champ Car racing since 1992, announced Wednesday that it will no longer serve as a sponsor of the U.S.-based open wheel series.

"We evaluate all of our racing programs on an annual basis and have decided that this sponsorship does not align with our current business objectives," Ford Racing technology director Dan Davis said.

"Although we are leaving open wheel racing at this time, were proud of our long relationship with Champ Car, its teams and drivers, and we wish them well as they try to grow the sport."

Champ car and the rival Indy-car Series have struggled for sponsors and fans since Indy-car officials split their group off in 1996.

"Today's decision was made from a business standpoint on both sides and in no way should tarnish the long legacy of success that the Ford Motor Company has established in Champ Car," series president Steve Johnson said.

"We thank Ford for what it has done for the series, but we are continuing building a bright future for the series and are exploring a number of other options for a manufacturer partner."

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