Trackhouse Racing announced the purchase of Chip Ganassi’s NASCAR Cup series assets on Wednesday, effective after the end of the 2021 NASCAR Cup series season. When announcing the transaction, neither team disclosed the financial terms related to the transaction.
Trackhouse Racing’s boss Justin Max, team president Ty Norris and Chip Ganassi Racing CEO Chip Ganassi announced the move through a live broadcast in the NASCAR Hall of Fame.
“This process took several weeks, and I want to thank Chip for being so open and frank at every step of the journey,” Max said. “Chip has built an iconic motorsport empire, and the Ganassi brand is a globally recognized winner in the motorsport industry.”
Ganassi said: “My NASCAR team is not for sale. Justin just came to me with a good offer and a better vision. As everyone knows, I care about my employees very much, so I sell it to someone like Justin Being a member of the CGR family makes sales easier.” Max, 40, recently participated in the NASCAR Xfinity series in 2018.
Trackhouse Racing was founded in October 2020-music star Pitbull is its co-owner-and made its debut in the 2021 NASCAR Cup series season. It currently has one driver: Daniel Suarez, the 2016 NASCAR Xfinity series season champion, driving a No. 99 Chevrolet. He ranked 18th in the NASCAR Cup Series standings, which prevented him from making the playoffs. He won the top 10 in three events in 2021 and the top five in the Bristol Dirt Race.
Through the acquisition of CGR’s NASCAR Cup Series assets, Trackhouse Racing will expand into two teams starting in 2022. Chip Ganassi Racing is a team of two: 2004 Cup champion Kurt Busch drove the number one Chevrolet, and rookie Ross Chastain drove the number one Chevrolet. 42 Chevrolet. Bush currently ranks 14th in the standings and is the leader to become Trackhouse’s second driver in 2022.
Trackhouse will also receive all NASCAR equipment and two Cup series charters from CGR, as well as the latter’s racing store in North Carolina, where Trackhouse will operate in 2022.
Ganassi’s other racing assets-IndyCar, IMSA WeatherTech Sports Car Championship and Extreme E-are not part of the Trackhouse deal. These teams will continue to work at CGR’s Indianapolis headquarters.
“I didn’t quit the game; I just quit NASCAR,” Ganassi said. “I also have an IndyCar team. I also have an IMSA sports car team. I also have a Formula E team. I have an offer that I need to consider.”