INDIANAPOLIS -- 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.
KV Racing sold its equipment to fellow team owner Ricardo Juncos, who plans to run in the IndyCar Series this season.
The season beings March 12 in St. Petersburg, Florida.