One of the founders of Spire Motorsports has entered an agreement to purchase the NASCAR team owned by Rick Ware and is jumping back into the stock car series because he believes the current charters are grossly undervalued.

CHARLOTTE, N.C. – Leavine Family Racing has sold its NASCAR team but will finish the season with driver Christopher Bell. Team owner Bob Leavine made the announcement Tuesday, saying he could not risk his 41-year-old construction business by continuing to fund the team. Leavine is the second team owner to close its doors after aligning with Joe Gibbs Racing. Leavine Family Racing has competed in NASCAR since 2011, making its debut with David Starr at Texas Motor Speedway. Leavine Family Racing is winless in 240 Cup starts.