Chip Ganassi’s Monster Energy NASCAR Cup Series team will be transferred to the ownership of the Trackhouse Entertainment Group from November 7, 2021, following the conclusion of the 2021 Monster Energy NASCAR Cup Series season, ending Chip Ganassi’s 20-year involvement in the Monster Energy NASCAR Cup Series.
Speaking about the announcement, Trackhouse Entertainment Group founder Justin Marks said:
This is a landmark moment for Trackhouse Racing. 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.
Chip Ganassi will remain involved in motorsport through IndyCar, IMSA and the Extreme E series and speaking about the news he said:
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. 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.
Chip Ganasi Racing has won four races in the 2021 NTT IndyCar Series with Alex Palou having taken two victories while Marcus Ericsson and defending series champion Scott Dixon has one race win apiece. Kevin Magnussen has also won in the IMSA WeatherTech Sportscar Championship.