Longtime race team owner Chip Ganassi has sold the NASCAR arm of his Chip Ganassi Racing to Trackhouse Racing, owned by racer Justin Marks and entertainer Armando Perez, better known as Pitbull. Ganassi will retain his race teams that compete in othwr series, including IndyCar and IMSA. Changes from the sell will take effect after the 2021 NASCAR Cup Series concludes in November.
“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 [Hamlin] and plenty of others,” Ganassi said. “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.”
The assets purchased include two charters under which Chip Ganassi fields the #1 driven by Kurt Busch and the #42 driven by Ross Chastain. Trackhouse, in its first season of Cup competition, fiels a #99 driven by Daniel Suarez, using a charter leased from Spire Motorsports. Spire has sold that charter to Kaulig Racing, sale effective at the end of the year.
Trackhouse will expand to two full-time entries in 2022. Suarez will drive one of the cars. The driver of the second car has not yet been announced.
“This is a landmark moment for Trackhouse Racing,” Marks said. “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.”
The NASCAR arm of CGR was formed in 1989 by Felix Sabates as SABCO. Sabates sold a majority stake in his team to Ganassi in 2001.
