The checkered flag has dropped on Tony George's Indy Car team.
George's open-wheel organization suspended operations Thursday, according to the Indianapolis Star . Vision Racing was owned by George, his wife, and actor Patrick Dempsey.
George's stepson, Ed Carpenter, drove for the team, which was started in 2005 when George bought the assets of former IRL team Kelley Racing.
Vision Racing spokeswoman Pat Caporali says George informed team members Thursday morning. She said 15-20 workers will be laid off. Caporali said the IRL founder made the decision because he had not secured enough sponsors for the 2010 season.
The move is another blow to George's open-wheel career in an already tumultuous year for the former team owner. In June 2009, George resigned as CEO of Indianapolis Motor Speedway, which is owned by his family. He resigned from the speedway's board two weeks ago.
He also resigned from his leadership role at the IRL, which he founded as a more affordable alternative to CART. The move in 1996 to create a new series opened a major riff in U.S. open-wheel racing that wasn't repaired until the IRL took over the Champ Car series in 2008.
-- The Associated Press contributed to this report.