Indycar veteran Tony Kanaan has lost his race seat with de Ferran Dragon Racing after failing to raise the required sponsorship money. This comes as a bitter blow to the series and Kanaan’s fans, who saw him leave the Andretti Autosport team last October for the same reasons.

In December Gil de Ferran announced that Tony Kanaan would drive for his de Ferran Dragon Racing outfit.

Speaking to the US press, Kanaan voiced his disappointment and said that he raised some money but not enough. The 2004 champion is reputed to be in talks with other Indycar teams, though this may be on a race-by-race basis.