Chip Ganassi sells entire NASCAR team to Trackhouse Racing

Chip Ganassi sold his NASCAR team to Justin Marks, owner of Trackhouse Racing, according to The Associated Press (h/t ESPN), and will pull out of the country's top stock car series at the end of this season.

"He made me a great offer that required my attention," Ganassi told The Associated Press.

"I'm not out of racing, I'm just out of NASCAR. 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."

Ganassi has two cars in the Cup Series and will transfer his North Carolina race shop and its assets to Marks in 2022. The sale was announced at the NASCAR Hall of Fame. 

Marks said Trackhouse will field two cars next year, one for Daniel Suarez, who currently drives Trackhouse's No. 99 Chevrolet, and another for a driver to be named later. 

Marks added that while he hopes to relocate his team to Nashville as early as 2023, his team will operate out of Ganassi's shop in 2022. 

Chip Ganassi Racing was one of the best teams in Indy-car racing, having expanded to NASCAR in 2001. The organization has 19 Cup race wins, including the 2010 Daytona 500 and Brickyard 400 at Indianapolis Motor Speedway.