In 2001, Ganassi bought a majority stake in Sabates' Team SABCO NASCAR team, which had operated since 1989, marking his entry into that championship and inheriting that teams history, while later moving his CART team to the rival Indy Racing League (now IndyCar Series) and competing in the Grand-Am Rolex Sports Car Series. In 2008, Ganassi partnered with Dale Earnhardt, Inc. owner Teresa Earnhardt to merge their NASCAR operations into Ganassi's shop and run independently as Earnhardt Ganassi Racing with Felix Sabates. The NASCAR team dropped the Earnhardt name in 2014, and Ganassi revealed that Teresa was never truly involved with the team. Rob Kauffman, chairman of the Race Team Alliance, purchased a stake in the team in 2015.
Together, they have won 10 Open Wheel titles (4 in CART, 6 in IndyCar), 5 Grand-Am Road Racing championships, and wins in the Indianapolis 500 (Four times), Daytona 500, Brickyard 400, 24 Hours of Daytona, 12 Hours of Sebring and a 24 Hours of Le Mans class win. Their class victory in the 2018 24 Hours of Daytona marked their 200th win in all of professional motorsports.
In 1989, Chip Ganassi, who had driven in the IndyCar World Series but had his career cut short due to a career-ending crash at Michigan in 1984, joined Pat Patrick as co-owner for Emerson Fittipaldi's Marlboro IndyCar team. Patrick had announced he was going to retire at the end of the year, and the team would go completely to Ganassi. The team won the Indy 500 and the IndyCar Championship.
By season's end, Patrick had second thoughts. Instead of retracting the sale of the team to Ganassi, he went ahead with the deal as planned, and instead restarted his team by taking over the upstart Alfa Romeo IndyCar effort for 1990. Fittipaldi took the Marlboro sponsorship to Team Penske, an arrangement that was also pre-planned. (Penske had supplied Patrick with a fleet of Penske chassis for 1989 as part of the deal).
Ganassi officially took over the remaining assets of the team (including the 1989 Penske chassis), and renamed it Chip Ganassi Racing. He signed former Formula One driver Eddie Cheever and raced full-time in the IndyCar World series with Target as primary sponsor.