Times are hard for Camping World Truck Series team owners.

Just ask former Cup champion Brad Keselowski who shut down his team after reporting annual loses had surpassed $1 million.

Now you can add Martins Motorsports to the list of teams closing shop. Team owner Tommy Joe Martins made the announcement two days ago on Twitter, but now he’s provided a clearer explanation as to why he’s made this move.

“My family and I knew that without a commitment from a driver or a sponsor that we were going to wind up having to basically foot the bill for this whole thing all over again,” Martins said in the three-minute video. “Even though we’re a really small team, we were projecting a rather large loss, somewhere around $300,000 to $400,000 to run the year the way that we wanted to.

“So, with that in mind, it was a pretty easy decision for us to be able to shut this thing down now before we got going.”

Martins revealed the most difficult part was telling his crew about the decision. He thought they made advances with their engine performance that would allow them compete at a higher level and we’re prepared to test the new spec motors at Charlotte.

While his team members are now left looking for work, Martins himself already found a ride for the 2018 season. He’ll be racing an XFINITY Series car for 10 races with Team McLeod.

Below are a series of tweets in which Martin goes more in-depth on his decision to shut down Martins Motorsports.

A frustrated Tommy Joe Martins reveals he would have lost a lot of money if he kept his truck team going Twitter / Nascar World
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