Trackhouse Entertainment Group and Trackhouse Racing announced Wednesday afternoon the purchase of Chip Ganassi Racing’s NASCAR operation.
The acquisition will be effective at the end of the 2021 season.
Daniel Suárez will continue with the team next year in the NASCAR Cup Series and a second driver will be named at a later date.
The announcement was made by Trackhouse team president Ty Norris and Trackhouse Entertainment Group founder, Justin Marks. Co-owner, Pitbull, formally known as Armando Perez, was not present for the announcement.
“This process took several weeks and I want to thank Chip for being so open and candid with me every step of the journey,” Marks said. “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.”
Although Chip Ganassi said that his team was not for sale, the offer was appealing for a number of reasons.
“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. They are bringing new perspective, vision and insight which is great for the sport.
“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.”
Ganassi will continue to be involved in racing, stating, “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.”
Daniel Suárez, who has three top-10 finishes this season, will continue with the team next year in the NASCAR Cup Series and a second driver will be named at a later date.
Marks confirmed that the new team will operate out of Ganassi’s current race shop in 2022.