NASCAR fined Nelson Piquet Jr. $10,000 on Tuesday and ordered him to attend sensitivity training for using an anti-gay slur on social media.
The Nationwide Series driver posted the remark on Instagram Sept. 25 in a post that has since been deleted.
"Nelson Piquet Jr. recently communicated an offensive and derogatory term that cannot be tolerated in our sport," said Steve O'Donnell, NASCAR senior vice president of racing operations. O'Donnell added the 2013 code of conduct clearly defines NASCAR's position and "We expect our entire industry to abide by this Code."
Piquet apologized in a statement.
"I sincerely apologize to everyone for my poor choice of words last week. I did not mean to hurt or offend anyone," the Brazilian driver said in a statement.