Leading Australian sprintcar driver Kerry Madsen has been left without a ride following the closure of his American-based team.

Keneric Racing closed its doors following the Knoxville Nationals where Madsen ran as high as second in the final before the engine expired with three laps to go.

Crew chief, Tyler Swank confirmed to PennLive that the US version of the Perth operation had shutdown.

“The American side of Keneric is no longer in existence,” Swank told the Pennsylvania news outlet.

“Basically, myself, Kerry and Bob Curtis have been terminated.

“Surprised? No. The fact that it happened so soon, yes. All I’m going to say is that all good things come to an end.”

Whilst details of the shutdown are not yet fully known, it is understood that Madsen will continue driving for Keneric Racing in Australia throughout this summer.

It is not known if events following the Knoxville failure contributed to the sudden closure.

Madsen had been one of the leading lights on the World of Outlaws trail, finishing fifth in last year’s points chase.

In 2016, the New Zealand born, St Marys (Sydney) raised Madsen started by winning the Australian Sprintcar Championship at Warrnambool.

This year, Keneric elected to pull out of the gruelling World of Outlaws event schedule to select which races it competed in.

It tasted victory with a clean sweep of the May Outlaws visit to Eldora Speedway and took three event wins in the National Sprint League.

Whilst operating in Australia as a sponsor and car owner for some time, Keneric Racing expanded to the US in 2010 and struck success in a string of major sprintcar events, including the King’s Royal at Eldora.

It was with Keneric Racing that Madsen became the highest placed Australian in the Knoxville Nationals.

Keneric Racing forms part of the West Australian based Keneric Group, owned by the Gavranich family whose patriarch, Bob Gavranich on the BRW rich list.

The race team is part of a wider group with interests as diverse as property development, healthcare, mining plant and equipment, conveyor application systems for construction and race simulator importation.