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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Tony Stewart Foundation will cease operations at the end of the year, it announced Monday, capping off two decades of providing grants to organizations serving children, at-risk animals and injured race car drivers.
Stewart, a former champion NASCAR and IndyCar driver from Indiana, founded the organization in 2003 as a vehicle to financially support charities and organizations he took an interest in.
Since then, the Brownsburg-based not-for-profit has donated more than $7 million to dozens of partners, including several pediatric cancer support organizations and numerous animal sanctuaries and rescues.
“It is with heavy hearts that we announce the closure of The Tony Stewart Foundation,” Stewart said in written comments. “We want to extend our heartfelt thanks to everyone who has been a part of our journey.
“We have enjoyed every minute of working with these wonderful organizations. It has been an honor to see the positive changes and smiles these efforts have brought to communities far and wide.”
Stewart urged donors to continue support for their communities.
“As we look forward to the future and reflect on the past, we hope you will continue to make a meaningful impact on those around you,” he said.
The foundation did not disclose a reason for its decision to close.
Earlier this year, Stewart and partner Gene Haas announced their decision to shut down North Carolina-based Stewart-Haas Racing, a two-time NASCAR championship team with 69 Cup Series victories, at the end of this NASCAR season. More than 300 Stewart-Haas employees will lose their jobs by the end of the year.
In 2021, Stewart formed a drag-racing team with two full-time entries into the National Hot Rod Association. Leah Pruett, Stewart’s wife, stepped back from the team late last year to start a family with the former championship driver. He has been driving in her place.
Stewart has been seeking to sell his 20,000-square-foot luxury log-built house and accompanying 415-acre hunting reserve in Columbus, Indiana. After originally asking for $30 million in 2022, the driver lowered the price last April to $22.5 million.
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It would appear significant financial troubles are in the windshield for Tony Stewart. This makes me sad, not only for Tony and his family, but the hundreds of employees and their families who are facing an uncertain future. The racing industry is very expensive to get into and difficult to make a profit. Only those teams with very deep pockets survive in the long run. All the best to everyone impacted by this news.
Let me know when he sells Eldora.
It also could be getting his ‘house in order’, nesting as you will, since they are expecting to be first time parents in a couple of months. Shifting focus to one business and one family. I know I left jobs and changed strategy and focus when I was first expecting. He’s probably not looking to raise his child here