Live Fast Motorsports recently sold its charter to Spire Motorsports for a whopping $40 million. The team had been in the Cup Series for three years but it seems to be the end of the road as a full-time team. At the time of formation, Matt Tifft became a team owner at 24. However, it seems is the end of the road for the former Richard Childress Racing driver as well.

Matt Tifft had a good reason to venture into the world of team ownership at such a young age. There were uncertainties over his career as a driver due to his health issues. The now 27-year-old had earlier said that he was advised to retire from driving in 2019 due to his health.

NASCAR’s youngest team owner bids an emotional farewell

In an emotionally-worded message on Twitter, Matt Tifft thanked everyone he had worked with at Live Fast Motorsports for everything they achieved over the past three years. The Virginia native also alluded to the tough nature of the business side of owning a NASCAR team, which is the reason why Live Fast Motorsports sold its charter.

“Time to move on, and I couldn’t be more thankful for everyone at @teamlivefast for what we’ve accomplished over the past three years. I will always be proud of what we set out to do, and how we worked with so many awesome people, including drivers, partners, and team members. The business of racing is tough, and while the competitive spirit will live on through my own racing, I can’t help but look back at this venture as a huge success and only the kick off for more to come. Here’s to what’s next!” the former Richard Childress Racing driver tweeted.

NASCAR is an expensive sport. So newer teams often find it hard to deal with the financial side of things. That is what happened to Live Fast Motorsports as well. According to former owner BJ McLeod, the sport was moving too fast and he just did not have the financial backing to cope.

“What caught me by surprise was the speed at which the sport advanced around Matt [Tifft, co-owner] and I and team Live Fast. That’s the part I didn’t anticipate and it just simply wasn’t in a strong enough position financially to be able to keep up with our surroundings. That happens in other businesses too, and you have to shift to make decisions and move, and it’s a good thing. It’s a good thing for everybody,” the 39-year-old said.

Their dismal performance in the 2023 Cup Series must have played a part as well. Live Fast Motorsports finished in 36th place in the owner’s championship at the end of the season as their struggles were highlighted for the world to see. However, team owner BJ McLeod is not done with racing in NASCAR just yet.

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Former Live Fast Motorsports owner reveals ambitious NASCAR plans

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According to eminent NASCAR journalist Bob Pockrass, BJ McLeod will attempt to race in the iconic Daytona 500. Superspeedways and road courses are also on the list for the former Spire Motorsports driver to run as a part-timer. Pockrass also revealed that McLeod would field a team in the Xfinity Series, but whether part-time or full-time was yet to be decided.

McLeod has confirmed that he will be keeping the #78 car, which he has driven for the past three years, for his part-time appearances in superspeedways and road courses. Apart from the Daytona 500, he has yet to reveal exactly which races he wants to run.

If we come back to Matt Tifft, it will be quite intriguing to see how the former Live Fast Motorsports team owner navigates a season where he will only be appearing pretty sparsely.

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