Oriol Servia has been informed his IndyCar Series team will close after the Indianapolis 500 if sponsorship isn't found.
Dennis Reinbold told Panther DRR employees and Servia this week about the financial issues facing the team.
The decision was first reported Thursday night by Speed.com and confirmed to The Associated Press by Servia.
Servia joined the team prior to the 2012 season after Newman-Haas Racing closed its doors during the offseason because of a lack of sponsorship. The Spaniard had just finished a career-best fourth in the IndyCar standings with three podium finishes when Newman-Haas folded.
He landed with DRR and finished fourth in last year's Indianapolis 500.
Servia was sixth on Sunday at Long Beach.