The new regulations effectively eliminated the privateers by making the older cars )mostly Porsche 962) uncompetitive and pricing them out of the series. By holding shorter races to compete with Formula 1, the series alienated fans of endurance, nobody really cared for two seater F1 cars.
Despite manufacturer involvement from Peugeot, Jaguar, Mazda, Nissan and Toyota, by '93 it was all over: Races had to be cancelled for lack of entries. Endurance racing globally was a giant mess that has only recently begun to make a real comeback.
This XJR-14, originally raced by Derek Warkick and Martin Brundle, was driven at Monza recently by Belgian Christophe d'Assenbourg in the Coppa Intereuropa, part of the FIA Masters Historic racing series.
Turn it up and enjoy.
(hat tip Sean Cleary!)