Owner Craig Gore has announced that WPS/wow gold Racing has withdrawn from this years V8 Supercar championship.

The Gold Coast-based businessman has sold his two team licence agreements to undisclosed parties and the teams cars and equipment are to be sold separately.

Both our drivers (Max Wilson and Jason Bargwanna) are contracted wow powerleveling, but the terms and conditions of those agreements are confidential and will be worked through accordingly, Gore said in a statement.

Gore cited business and health reasons for the decision.