Michael Shank Racing stripped of Rolex 24 third place finish

Michael Shank Racing was found to have illegal mechanical adjustments during the Rolex 24.

John Raoux/AP

DAYTONA BEACH, Fla. (AP) -- The third-place finisher in last weekend's Rolex 24 at Daytona has been hit with harsh penalties for a rules violation.

Grand-Am Road Racing stripped the No. 60 Ford Riley of Michael Shank Racing of its podium finish, $35,000 in prize money and 30 championship points.

The sanctioning body discovered mechanical adjustments to the car's engine, which resulted in "performance levels outside the documented maximums."

Shank says the team is "as surprised about this as anyone. We know that the guys will figure out what when wrong and make sure we are not in this position again."

The No. 60 team, the 2011 Rolex winners, rallied from seven laps down this year and competed for the victory during the final laps of the endurance race.