NASCAR Xfinity Series driver Conor Daly lost his sponsorship deal with Lilly Diabetes for Saturday's Johnsonville 180 race at Road America in Elkhart Lake, Wisconsin, because of a racial slur his father, Derek Daly, used during a radio interview in the 1980s that surfaced this week.

According to ESPN, Daly's dad said he accidentally used a slur for African Americans because it had a different meaning in his native Ireland, and he hasn't used it since.

"Unfortunately, the comments that surfaced this week by Derek Daly distract from this focus, so we have made the decision that Lilly Diabetes will no longer run the No. 6 at Road America this weekend," the company said in a statement Friday.

Derek Daly, who said he was "mortified" by his use of the derogatory term, was a Formula One and CART competitor during his own racing career and also took part in three editions of the 24 Hours of Le Mans.

"Finally, I want everyone to know I deeply regret and sincerely apologize for what I said more than three decades ago," he said, per ESPN.

The younger Daly posted a message on Twitter about the situation:

Daly, who's spent a majority of the previous two years racing in the IndyCar Series, is set to make his Xfinity Series debut this week in Wisconsin.

Lilly Diabetes will still sponsor Ty Majeski and Ryan Reed for Saturday's race.