Busch's team not competing in Nationwide Series next season

Homestead, FL ( - Kyle Busch confirmed after the conclusion of Saturday's race at Homestead-Miami Speedway that he is shutting down his Nationwide Series team due to lack of sponsorship.

Kyle Busch Motorsports had one team in NASCAR's second-tier series this year. Parker Kligerman drove the No. 77 Toyota for KBM, posting 13 top-10 finishes and ending the season ninth in the point standings. The No. 77 finished 13th in owner points.

Busch drove for his Nationwide team in 22 races during the 2012 season but did not win a race. His elder brother, Kurt, gave the team its lone victory in the series, doing so in last year's spring event at Richmond. Busch moved over to Joe Gibbs Racing this year, driving the No. 54 Toyota and scoring a series- high 12 wins. He finished third in the season-finale at Homestead.

"There's absolutely no funding in this world," Busch said. "It really, really sucks. That's why we're open and in business. But when the economy turns, Joe Gibbs Racing shut my team down this off-season, Turner Scott Motorsports is shutting down Nationwide teams this year. It's not due to lack of hard work, that's for sure."

JGR's No. 54 team lost the 2013 owner's championship by only one point to Penske Racing's No. 22 team.

Busch is the owner of three teams in the Camping World Truck Series. Joey Coulter drove the No. 18 truck and Darrell Wallace Jr. was behind the wheel of the No. 54 this season. Busch won Friday night's season-ending truck race at Homestead, which gave his No. 51 team the owner's title.