1998 was Speed's final Winston Cup season. Having secured sponsorship from the Cartoon Network, Speed's best finish of the season was in the Daytona 500 where he tangled with John Andretti with two laps to go bringing out the yellow flag that effectively won the race for Dale Earnhardt. The 1998 season proved to be a challenge for Lake and the Melling Racing team. It appeared as if the team was struggling with the new Ford Taurus bodies, and that translated to some poor results. At Sears Point Raceway, Speed appeared to have a chance to turn his season around. He was strong during the first practice session with the second fastest speed behind Jeff Gordon. In the second practice session, Speed ran over debris thrown on the track by a car that had gotten off course, cut a tire and slammed into one of the tire barriers breaking his sternum. Speed missed the event and was replaced by Butch Gilliland, but he returned to the next race at New Hampshire. However Speed was caught up in a wreck not of his own making and aggravated his injury. After the race, Speed felt it best for the team to find another driver. Speed stepped aside and was replaced by Jerry Nadeau. With Speed's age being against him and a push for younger drivers, he effectively retired from NASCAR racing. Though Speed only made 16 starts during the 1998 season, he still finished 43rd in the points standings.