The team, co-owned by Bobby Rahal and David Letterman, has had some success, winning the Indianapolis 500 in 2004 with driver Buddy Rice, and was responsible for bringing Danica Patrick to IndyCar. Last year they won at Watkins Glen. However, it doesn't appear to be enough to keep the doors open at their IndyCar operation.
''At this time Rahal Letterman will not be in the IRL in 2009,'' Bobby Rahal told the Associated Press.
The team will continue to campaign its BMW in American Le Mans. [via TSN]