Chip Ganassi Racing has sold its NASCAR assets to Trackhouse Racing, both teams announced Wednesday, June 30.
Trackhouse will officially acquire CGR’s assets after the final Cup Series race at Phoenix Raceway on Nov. 7.
Trackhouse will run the two Cup entries in 2022, including current driver Daniel Suarez.
Team owner Justin Marks competed with Ganassi in 22 Xfinity Series events from 2016-2018, earning one win, three top fives and five top 10s.
“I think this is a great day for NASCAR as it seems like there are so many people that are wanting to get into the sport as owners – Michael Jordan, Pitbull, Denny and plenty of others,” Ganassi said in Trackhouse’s team release. “They are bringing new perspective, vision and insight which is great for the sport. NASCAR has been building momentum over the last few years and I am confident that it will continue to do so.
“Also, I can honestly say that my NASCAR team was not for sale. Justin simply came to me with a great offer and an even better vision. As everyone knows, I care deeply for my employees so selling to someone like Justin, who is part of the CGR family, made the reality of selling much easier. He knows our organization and the people. That gives me comfort. Everyone needs to know that I am still completely dedicated to the motorsports industry and will continue to run my other teams in INDYCAR, IMSA and Extreme E with the same enthusiasm that I always have.”
Ganassi has been in Cup since 2001 with its drivers earning 14 wins; Kurt Busch last won at Las Vegas Motor Speedway in fall 2020. From 2009-2013 it was run as Earnhardt Ganassi Racing; Aric Almirola, Juan Pablo Montoya, Martin Truex Jr. and Jamie McMurray all ran for the team during this period, tallying up five additional wins.
CGR also fielded Xfinity Series cars from 2004-2008 and 2016-2018, totaling 20 wins in 373 races.
CGR currently fields Nos. 1 and 42 in the Cup Series, driven by Kurt Busch and Ross Chastain, respectively. Both drivers together have earned three top fives and nine top 10s so far this season.
The team also runs three NTT IndyCar Series teams; Marcus Ericsson, Scott Dixon and Alex Palou drives Nos. 8, 9 and 10, respectively. “I’m not out of racing, I’m just out of NASCAR,” Ganassi told The Associated Press. “I still have an IndyCar team. I still have an IMSA sports car team. I still have a Formula E team. I had an offer that I was required to consider.”
“This is a landmark moment for Trackhouse Racing,” Marks said in a release. “It is humbling to know we have secured our position in NASCAR for the next decade. These are never decisions made without a lot of thorough consideration and deep reflection by both parties. This process took several weeks and I want to thank Chip for being so open and candid with me every step of the journey.
“Chip has built an iconic motorsports empire and the Ganassi brand is globally recognized as a winner in the auto racing industry. It is truly an honor that we can build from that foundation. This acquisition provides Trackhouse a platform for years to come, enabling us to field multiple teams, elevate our on-track performance, deliver great value for our sponsors and partners, build lasting community impact programs and continue to grow our brand beyond the sports conversation.”
Suarez has earned one top five and three top 10s so far this year for Trackhouse.
A second driver for Trackhouse in 2022 is yet to be named.
Very happy and excited to be a part of this journey with @TeamTrackhouse. The best is yet to come ?? https://t.co/uadQjaqtwZ
— Daniel Suárez (@Daniel_SuarezG) June 30, 2021
Much respect for @GanassiChip and Felix Sabates on what they have contributed to the sport of @NASCAR for 30+ years. My focus right now is on getting the #1 @MonsterEnergy @TeamChevy into the playoffs, and helping Chip go out a winner. pic.twitter.com/lnVocvspls
— Kurt Busch (@KurtBusch) June 30, 2021
Joy joined Frontstretch in 2019 as a NASCAR DraftKings writer, expanding to news and iRacing coverage in 2020. She's currently an assistant editor and involved with photos, social media and news editing. A California native, Joy was raised watching motorsports and started watching NASCAR extensively in 2001. She earned her B.A. degree in Liberal Studies at California State University Bakersfield in 2010.