Looks to be true, here is a press release I found on the NE Racing board: (Sorry about the typo's, that's the way it appeared on the NE board.)

GRIZCO Racing Announces Changes For 2006

Forms New Partnership With ASM Motorsports

Portsmouth, N.H. (February 25, 2006): After 18 years, five championships, nearly 16 top-five point finishes, and countless race victories, GRIZCO Racing will step away from the activities of racing except for a business development partnership with ASM Motorsports. GRIZCO Racing, owned by Steve and Peg Griswold, made history last year when they announced the formation of the Busch East Series’ first multi-car operation - a three-car team piloted by drivers Andy Santerre, Mike Stefanik, and Brad Leighton. Santerre put the team in the record books by winning a fourth series title - a feat never before accomplished in the Busch East Series—along with Stefanik, his teammate who finished 2nd in the season ending points.

“There were a variety of reasons that led to this decision,” said Griswold. This wasn’t an easy decision to make - to once again change the business goals of this team. Both Peg and I love the Busch East Series, and we’ve developed strong relationships with members of our teams and the series as a whole. We never wanted to go any further up the ladder and we were happy right here. Along with NASCAR officials, we worried that the success of our multi-car team may have a negative impact on the very series that we love. A big multi-car team is probably not what this series needs. What it needs is new owners and drivers coming into it.”

And Griswold, whose goals and accomplishments have always reflected his commitment to the growth of the series, has put a business plan into action to achieve just that. Santerre, who managed GRIZCO Racing, will enlarge his companies ASM Motorsports with the full support and backing of GRIZCO Racing.

“Andy and Sue Santerre are going to be out front running the ownership operation and GRIZCO Racing will be behind them every step of the way. We’ll be working as partners,” Griswold said. “We’re focusing our resources at ASM Motorsports and having credit go where credit is due. The energy will be focused where it should be - at Andy and Sue leading a new young driver to a successful career with a new and exciting sponsorship addition to the series.”

Driver Mike Stefanik will return to the Whelen Modified Tour driving for the No. 16 team, and has no plans to return to the Busch East Series at this time. “I’m just sad to see it all come to an end,” said Stefanik. “I enjoyed it while it lasted.”

Brad Leighton, who had hoped to return to the series on a full-time basis in 2006, is up in the air about his future saying, “I’d like to run a few races, but as of right now, there’s nothing definitive.”

“It’s time for Peg and I to follow some of our other personal pursuits and dreams that exist in the much larger world outside of NASCAR,” Griswold said.

One thing is certain. GRIZCO Racing has accomplished all of the goals it set out to do. From it’s very beginnings in 1988, to it’s latest championship in 2005, GRIZCO Racing made it’s mark on racing and the Busch East Series, and will continue to do so long after they are gone.