The four-time IndyCar Series champion said in a written release that while his injuries will heal, the potential for future complications have forced his hand toward retirement.
“Since my racing a
"Racing has been my life for over 30 years and it's really tough to think that the driving side is now over," said Franchitti. "I was really looking forward to the 2014 season with Target Chip Ganassi Racing, with a goal of winning a fourth Indianapolis 500 and a fifth IndyCar championship.
"I'd like to thank all my fellow competitors, teammates, crew and sponsors for their incredible support over the course of this amazing ride. I'd also like to thank Hogan Racing, Team KOOL Green and Andretti Green Racing for the opportunities to compete on the racetrack, and especially Target Chip Ganassi Racing, who have become like a family to me since I joined their team back in 2008. I would be remiss if I didn't thank all my fans around the world. I can't thank you enough for standing by my side for all these years.
"I'll forever look back on my time racing in CART and the IndyCar Series with fond memories and the relationships I've forged in the sport will last a lifetime.
"Hopefully in time, I'll be able to continue in some off-track capacity with the IndyCar Series. I love open-wheel racing and I want to see it succeed. I'll be working with Chip to see how I can stay involved with the team, and with all the amazing friends I've made over the years at Target.
As my buddy Greg Moore would say, ‘See you up front’”