Scott Dixon will continue in the No. 9 Honda, with a yet-to-be-determined second driver in the No. 10, which was piloted by Tony Kanaan through 2017.

Ganassi has also run Charlie Kimball since 2011 and ex-Formula 1 driver Max Chilton since 2016, but both drivers are poised to leave the team.

"This decision was based on the fact that we felt we needed to get back to our core business of running two championship calibre teams," said Ganassi.

"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 who make any company tick.

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

Ganassi last fielded just two cars in 2010, when Dixon partnered Dario Franchitti.