The #99 Gainsco/Bob Stallings Racing Corvette DP driven by Alex Gurney, Jon Fogarty, Memo Gidley and Darren Law is loaded on to a wrecker following in an incident during the Rolex 24 at Daytona International Speedway on Jan 25, 2014. (Photo: Getty Images)

The #99 /Bob Stallings Racing Corvette DP driven by Alex Gurney, Jon Fogarty, and Darren Law is loaded on to a wrecker following in an incident during the Rolex 24 at Daytona International Speedway on Jan 25, 2014. (Photo: Getty Images)

Following the accident that saw No. 99 GAINSCO Auto Insurance Corvette Daytona Prototype driver Memo Gidley suffer severe injuries at this year’s Rolex 24 At Daytona, GAINSCO/Bob Stallings Racings has elected to suspend operations for the balance of the 2014 season.

“It is with great regret that we will have to suspend operations for the balance of the 2014 season,” said Team Owner Bob Stallings. “Since Daytona, priority one for us has been on Memo’s recovery. Everyone on the team has been focused on his care and comfort, and it has meant the world to see such support from the fans and the racing community at large. Even though Memo has a long road ahead, the worst is behind him, and it has allowed us to step back and take a look at the program at large. With both the personal and economic strain this has put on us, we feel it’s in the best interest of everyone to sit out this year, with a firm focus on a return in 2015.”

With the team having a strong sense of family and community, the strain of Gidley’s recovery, combined with the destruction of the team’s primary vehicle and the financial requirements to continue in the Tequila Patrón North American Endurance Championship, the organization felt it was in the best interest to simply sit the year out. All drivers and crew have been released for opportunities available with other teams.

While the team’s famed No. 99 “Red Dragon” will be absent this year, this will also position GAINSCO/Bob Stallings Racing to focus efforts on an improved 2015. With the 2014 season continuing to be an evolutionary year for the new series, the break will allow for the team to take an evaluatory look at their best options for next year.

GAINSCO/Bob Stallings Racing, as well as Bob Stallings personally, will continue to look after the recovery of Gidley, and the team will continue to provide updates during the Californian’s recuperation.

The team would like to once again thank the fans, media and community at large for their continued support of the “Red Dragon.”