Chad Reed’s TwoTwo Motorsports team has officially ceased operation, the Australian icon has confirmed in a statement released this afternoon.

Reed, 33, has had a horror Pro Motocross campaign in 2015, currently 16th in the standings after three consecutive non point-scoring races, five rounds into the outdoors.

It’s now been confirmed he will sit out the remainder of the year and the team will close following five years in operation.

“Today we share the unfortunate news that our journey with TwoTwo Motorsports has ended,” Reed announced. “Five years ago, we built this race team from the ground up. With a team of the best guys in our industry, we created a successful winning team.

“I’ve always said, if you’re going to do something, do it right! We worked hard to compete at a level with the factory teams and to meet our goals of being championship contenders.

“On the outside we were great, but on the inside the stress and cost of wearing both the team owner and the rider hats were taking a toll. I’m not someone who gives up, so when the tough times came I worked harder to push through them.

“2014 was a tough year for the team, financially and mentally. My injury almost cost us the team, but I couldn’t handle the thought of losing everything we had worked for.

“2015 has been a crazy year of everything going wrong. We had flashes of brilliance, but titles aren’t won with flashes. My ‘Mr. Consistent’ status was gone and I was back on the ‘has-been’ list in my own head. At this point in my career, I needed to make a choice of which hat I was going to wear moving forward: a team owner or rider. I can’t be both.

“I’ve been living and working at an unsustainable rate and I’ve emotionally, physically, and financially exhausted myself. I’m stubborn and haven’t wanted to let go. I don’t like the thought of giving up on anything. It’s taken a year of swimming against the current to finally realise I needed to make changes quickly.

“I’m lucky to have the support of my wife and family who have helped me see that I was not only losing my love of racing, but also heading for a breakdown. My family and my health come first.

“TwoTwo Motorsports was a dream team. I thought it was my future, but I now know it was just a chapter. I’m not ready to retire. I read a quote somewhere that said ‘Don’t give up on something you can’t go a day without thinking about’. I’m not giving up on the goals of winning, just changing the way I do it.

“To my wife, Ellie. Thank you for being my rock. You give me courage, love, and enthusiasm to do great things and continue to live my dreams. When everything feels like it’s falling apart, you are the glue that holds us together.

“Even though my kids are too young to completely understand, I’m thankful to have raised them under the TwoTwo awning during their early years. It was a family friendly atmosphere and it made me very happy to be able to share my passion with them. They keep me young and teach me lessons beyond their realisation.

“A huge thanks to my TwoTwo team. You all took a chance joining the team and together we made history. The hardest part about this team closing is letting you go. We’ve built friendships and memories that can last a lifetime.

“Thank you Josh Grant for joining us. Our time together got cut short. We are proud to have helped you achieve your best overall Supercross season. Though I cannot put a bike underneath him for the remaining Outdoors, I will continue to pay Josh and hope he can find a home to show off his talent soon.

“To all the companies who have helped support TwoTwo Motorsports. Thank you for what you all brought to the table. Collectively we share the success and achievements made during our five years.
I’m thankful and proud to say that even when I’m down, my sponsors want to stick with me. Their continued support is testament that I have truly surrounded myself with the best people and companies: Discount Tire, Monster Energy, Fox, Shift, 360fly, Oakley, Factory Effex and Stance.

“I’m hoping that the fans of TwoTwo Motorsports will be supportive of my decision. I know I have the best fans around the world and I promise this isn’t the end for me. There is still a lot to figure out as we step forward into the unknown. The future is exciting and waiting to be written.”

TwoTwo Motorsports was launched ahead of the 2011 season, in which Reed rode a private Honda to second in supercross and third outdoors after gaining factory support in the mid-season.

The following year in 2012 started strongly for Reed with five podiums including a win in the first six races, before a crushing crash at Dallas put him out of the season. Reed finished fifth in supercross during 2013 despite a knee injury, but struggled through illness to 15th outdoors in what was his final year with Honda.

Last season after transferring to Kawasaki, Reed stunned with two supercross victories in the first five races, before injury again struck at the San Diego stop of the 2014 season. Outdoors he returned to finish 11th in the standings.

This year has been a mixed one for Reed to date, winning the Atlanta 1 round of supercross on his way to fourth position in the championship. It’s also been the first year TwoTwo has operated as a two-rider outfit, with the addition of Josh Grant alongside Reed.

Reed is yet to confirm his future, currently recovering from shoulder surgery.