Turner Scott Motorsports announced on Friday that Arrowhead, the primary sponsor of the No. 4 Chevrolet, had defaulted on its payments to the team.
As a result TSM will not be fielding a truck for Burton full-time in the 2014 season. TSM believes as many as 20 percent of its staff could be downsized.
“Obviously, these are tough circumstances for everyone involved, not just for me, but also for my teammates who are affected,” said Burton. “I am working with Turner Scott Motorsports to identify any potential opportunities for me to get on the track this year.”
TSM will field entries in the Nationwide and Camping World Truck Series in 2014.
Ward Burton, father of Jeb, tweeted out his disappointment.
Thanks to everyone who has supported my family through this difficult time. We are continuing to work hard to move @JebBurtonRacing forward
— Ward Burton (@Ward27Burton) February 1, 2014
Burton ran all 22 NCWTS races in 2013 earning a win at Texas and finishing fifth in the driver standings while scoring seven poles. He finished inside the top-ten in 11 races.