Fisher, Hartman split from Carpenter as oil prices plummet

The name Ed Carpenter Racing will return to the IndyCar grid this season after Sarah Fisher and Wink Hartman announced an end to their partnership with Carpenter's eponymous outfit after just one year.

Former driver Fisher and oil magnate Hartman joined up with Carpenter's race winning team prior to the 2015 season to make CFH Racing. The united team won two races last season, in Alabama and Toronto, with Josef Newgarden at the wheel.

The current low price of oil has seen Hartman's business suffer to a point where he can no longer back Newgarden's entry as in previous years.

As a result Carpenter, along with business partners Tony George and Stuart Reed, will take full ownership of the team and their base in Speedway, Indiana while Fisher will continue to work with the team's sponsors.

"After competing for a year as CFH Racing, we will be returning to ECR for 2016 and beyond," said three-time race winner Carpenter. "While we had a great year as CFH Racing, we have had some partnership changes within the organization and it makes the most sense to return to ECR."

"ECR is in a great position as we head into 2016," he added. "We have been a Chevrolet team from the beginning, so we're excited to continue that relationship and help them win another championship. We have had a very productive off-season and our plans are well underway for a successful year."

The highly-rated Newgarden will remain with Ed Carpenter Racing in 2016, with support from Carpenter's longtime sponsor Fuzzy's Vodka who will back the entry for the first four rounds of the season.

Carpenter will continue to run the oval events in a second car, although a driver to deputise on the road courses has yet to be announced. Last year the role was filled by GP2 race winner Luca Filippi.

"I may never have had the chance to race an Indy car if it was not for Wink Hartman, Libba Hartman, Sarah Fisher and Andy O'Gara," said Newgarden. "They really were a huge turning point in my career and helped me break into the professional level. Their support was everything and more that a young driver could ask for."

"Moving forward, I'm extremely excited about 2016 with Ed Carpenter Racing. I enjoy working with Ed Carpenter so much, as both a team mate and a team owner."

Image: IndyCar Media