Gain extra benefits by becoming a Supporting Member Click here find out how!

Classic Performance Products Nu-Relics Power Windows
American Auto Wire Hellwig Products IncPerformance Rod & Custom
Danchuk Catalog



Username Post: Gannasi sells out        (Topic#365676)
Boog 
Super Senior Member
Posts: 4011
Boog
Loc: Central Arkansas
Reg: 04-28-02
07-01-21 02:37 AM - Post#2822423    

News broke yesterday Chip Gannasi has sold his stock car business lock stock and barrel to new owners Trackhouse Racing effective Jan 2022. He still has 3 other racing teams to keep him busy, Indy, IMSA and E racing.

Boog
69 Chevy step
06 GMC ccsb Z71
09 Yukon slt 4 wd
All GM...'nuff said!
JR Nation


 


BigDogSS 
"13th Year" Silver Supporting Member
Posts: 4960
BigDogSS
Loc: SoCal
Reg: 12-21-01
07-01-21 07:33 AM - Post#2822436    
    In response to Boog

Probably a smart move. He has had way more success in these other forms of racing. No NASCAR championships. I think NASCAR took up too much time/effort and not enough results.


    1967 Chevrolet Impala SS convertible 327 - Ermine White C1 - VCCA Senior Award
    1967 Chevrolet Impala SS Sport Coupe 396 - Marina Blue FF - personal "barn-find" lol



Edited by BigDogSS on 07-01-21 07:38 AM. Reason for edit: No reason given.

 
Rick_L 
Member #409
Posts: 27913
Rick_L
Loc: Katy, Tx, USA
Reg: 07-06-00
07-01-21 07:38 AM - Post#2822437    
    In response to Boog

Took me by surprise.

But with all the frenzy of new teams being announced and few "charters" available, it was probably only a matter of time until someone would sell their whole operation to someone with a new team or intentions of a new team.

And Ganassi had to be disappointed and frustrated at the lack of success he had in Nascar compared to Indy cars and sports cars. Particularly the loss of Kyle Larson recently. When he bought in, he had a team contending for the cup, but fell short. Then he bought the remnants of DEI but that didn't live up to expectations either. Then there was the sponsor who ended up being a Ponzi scheme.



 
WagonCrazy 
"16th Year" Platinum Supporting Member
Posts: 3288
WagonCrazy
Loc: So Cal
Reg: 06-07-05
07-03-21 02:43 PM - Post#2822558    
    In response to Rick_L

Read an article on this deal that the guys behind Trackhouse racing have been trying to buy a Nascar franchise for several years with no luck. Then he approached Ganassi with (probably) an offer he couldnt refuse and got him to think about his future staying in Nascar. The article surmised that the franchise probably went for north of 10 million bucks. Ganassi smelled payday and took the loot and split!

You can read it here

57 Nomad -LS1 with C4 suspension
59 Apache Fleetside Shortbed BigWindow



Edited by WagonCrazy on 07-03-21 02:46 PM. Reason for edit: No reason given.

 
Rick_L 
Member #409
Posts: 27913
Rick_L
Loc: Katy, Tx, USA
Reg: 07-06-00
07-03-21 05:23 PM - Post#2822560    
    In response to WagonCrazy

I wonder what the "offer that couldn't be refused" was and how much it was relative to what appears to be the going price for two charters?

The major assets were the two charters, plus a bunch of race cars and supporting parts inventory, at least two haulers and at track equipment, and a bunch of employee commitments. The race cars and much of the parts inventory is obsolete for 2022. The new car will not require as many employees because they won't be doing much fabrication with the new car - though I don't know how autonomous Ganassi was on that. The deal didn't include any real estate, as I read that the real estate was leased from Rob Kaufman (a Ganassi partner) and wasn't part of the deal.

So lots of questions here about the value of what Trackhouse purchased and how much Ganassi might get to walk away with relative to its future value.

I think the charters were the main deal.





 
Boog 
Super Senior Member
Posts: 4011
Boog
Loc: Central Arkansas
Reg: 04-28-02
07-04-21 06:18 AM - Post#2822574    
    In response to Rick_L

It depends on which article one reads as to what all the deal includes. Multiple sources say one charter goes for at least $10M. Ganassi has two. A charter is nothing but a gold key to get into Nascar's top tier and guarantees a starting spot in Sunday's races. The big boys club if you will.
Jr reportedly said charter costs are what are standing in his way of moving to cup level. But with his standing I don't believe for one minute that he couldn't come up with that.
There are however, by design, only so many charters available. 35 if memory serves.
Big league racing is expensive.
Good old boy racing has been diminished to the local small tracks from where it came.

Boog
69 Chevy step
06 GMC ccsb Z71
09 Yukon slt 4 wd
All GM...'nuff said!
JR Nation


 
Rick_L 
Member #409
Posts: 27913
Rick_L
Loc: Katy, Tx, USA
Reg: 07-06-00
07-04-21 08:07 AM - Post#2822586    
    In response to Boog

Thing is, if you want to be competitive and maybe make money too, you have to pay the price for the charter because that lets you share in the TV money and a bigger share of the Nascar purse. Plus you need enough money from sponsorship or deep pockets in some way to be able to run up front.

If you want to be a back marker and just ride around, then maybe you don't need a charter or spend as much money for the best equipment. The back markers do it both ways. You can probably count on the fingers of one hand the number of teams trying to be competitive without a charter.

For 2022, since everyone will have to have the new car, so for at least a little while everyone will have "competitive" equipment. It will be a matter of what they do with it.



 
65_Impala 
Very Senior Member
Posts: 4816

Reg: 12-29-02
07-07-21 10:35 AM - Post#2822801    
    In response to Rick_L

There are 36 charters and 40 cars start each race, so there is only room for 4 non-charter teams to start each race. This year the average number of cars starting each race seems to be 38 so there seems to be only 2 teams without a charter trying to race a full schedule.



 
Rick_L 
Member #409
Posts: 27913
Rick_L
Loc: Katy, Tx, USA
Reg: 07-06-00
07-07-21 03:32 PM - Post#2822823    
    In response to 65_Impala

Thing is, it's not the same 2 or 4 cars without a charter every week.

It hasn't been too many years ago that the cup series started 43 cars in all the races. When the charter deal is up for review in 2024 they might increase the number of charters. And if the new car pans out like they hope, they might go back to 43 starters. If they go back to qualifying that will be a factor too. Right now if you have a non-charter car you need not send an entry in if you don't have enough points to be in the field.

So this may change.



 
65_Impala 
Very Senior Member
Posts: 4816

Reg: 12-29-02
07-08-21 06:04 AM - Post#2822853    
    In response to Rick_L

Not every week, but it seems there is a non charter team or 2 showing up fairly consistently. Some of the races like Daytona or a road course get more cars showing up.

I doubt they will get back to 43 cars, or bother expanding the charters. The 36 charter teams already include a number that are low budget and barely able to keep running. It only might happen if they combine NASCAR and IMSA racing into one series...



 


Icon Legend Permissions Topic Options
Report Post

Quote Post

Quick Reply

Print Topic

Email Topic

372 Views
FusionBB
FusionBB™ Version 2.1
©2003-2006 InteractivePHP, Inc.
Execution time: 0.223 seconds.   Total Queries: 16   Zlib Compression is on.
All times are (GMT -0800) Pacific. Current time is 06:33 AM
Top