Chip Ganassi Racing has confirmed it will cut back to a two-car entry for the 2018 Verizon IndyCar Series season.

Ganassi raced with four full-season cars throughout 2017, driven by Scott Dixon, Charlie Kimball, Tony Kanaan and Max Chilton, having expanded its commitment in IndyCar back in 2011.

In a statement issued this week, team owner Chip Ganassi confirmed the decision to cut back to two IndyCar entries, believing it would aid his other racing interests in series such as NASCAR and the FIA World Endurance Championship.

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"We will be returning to a two car team beginning in 2018 with Scott Dixon in the No. 9 and a yet to be determined second driver in the No. 10," Ganassi confirmed.

"This decision was based on the fact that we felt we needed to get back to our core business of running TWO championship caliber teams. It was a tough decision to make as it affects a lot of people. With news like this comes contraction and as such we had to let a number of good people go.

"The decision was not taken lightly but we felt it was best for our business. It is one of the toughest things you experience as a business owner – especially because I am all too aware that it is the people that make any company tick.

"We will be back in 2018 and ready to compete for our 12th INDYCAR championship.”

Kanaan is expected to move to AJ Foyt's team for 2018, while question marks hang over the futures of both Kimball and Chilton after a tough season that saw neither make the top 10 in the standings.