It has been confirmed that Target will exit the IndyCar series at the end of 2016 season after 27 years at the Chip Ganassi Racing team.
The partnership with the Chip Ganassi outfit started in 1990 and went on to produce 11 championships, as well as four Indianapolis 500 victories.
Target continues to examine its marketing platforms, under the new chairman Brian Cornell, but will remain a sponsor for 2017 in NASCAR with Sprint Cup racer Kyle Larson.
The tie-up between Target and Chip Ganassi Racing has been one of the longest serving partnerships in IndyCar racing history.
The retail giant is currently the primary sponsor on the No.9 car of reigning world champion Scott Dixon. Chip Ganassi confirmed it is looking at sponsorship options, with AP reporting a replacement for Dixon’s car could be announced in the next two months.
“It's the greatest sponsor in racing, ever," Ganassi told AP. "They've been nothing but good to me. They developed me personally and professionally.
“I've developed lifelong friends and relationships. I understand things change and people have different marketing efforts, and the way they want to stamp their name on things.
"But it's one of the longest running sponsors in racing and they delivered for me and the team, and the team delivered for them."
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