Vasser, KV Racing shut down IndyCar team after 14 years

(AP Photo/Michael Conroy, File)

INDIANAPOLIS (AP) Former CART champion Jimmy Vasser has shut down his IndyCar team after 14 years and seven victories, including the 2013 Indianapolis 500.

KV Racing Technology, owned by Australian businessman Kevin Kalkhoven and Vasser, announced the long-rumored move Thursday. It's possible Vasser and the team's third partner, James Sullivan, will be involved in another effort for the Indy 500 in May.

The 72-year-old Kalkhoven is stepping down because "I feel I can no longer give the team the effort and support it and the team members deserve."

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