Today's Paper Latest Story ideas Coronavirus The Article iPad Core Values Weather Newsletters Obits Puzzles Archive
ADVERTISEMENT

Marks finds route to NASCAR

by The Associated. Press | July 3, 2021 at 2:06 a.m.
In this Saturday, Feb. 17, 2018, file photo, Justin Marks walks through the garage during practice for the NASCAR Daytona 500 Cup Series auto race at Daytona International Speedway in Daytona Beach, Fla. (AP Photo/Terry Renna, File)

CHARLOTTE, N.C. -- After the announcement Justin Marks had purchased Chip Ganassi's NASCAR team, the outgoing owner took the soon-to-be new boss back to the shop to address a room full of anxious employees.

"It was important to me to get in front of people and look them in the eye," Marks told The Associated Press. "I told them, 'I am here because I love racing and there are a lot of good things happening in this building, and I am going to work hard to preserve as much of that as possible.' "

The work begins next week for the co-owner of Trackhouse Racing, who struggled to find a charter for the team's first year of competition and balked at paying the escalating costs of NASCAR's equivalent of a franchise. Kaulig Racing last month bought a pair of charters for what the industry believes to be at least $10 million apiece, and after crunching the numbers, Marks just couldn't justify the spend.

So he switched his strategy, looked at the marketplace and took his shot: Marks picked up the phone and cold-called Ganassi, the Pittsburgh-tough owner not known for suffering fools gladly. After 20 years in NASCAR with a team that never really reached the level of Ganassi's successful IndyCar and sports car programs, Marks wondered whether Ganassi was willing to cash out.

Ganassi said Marks made him "an offer that required my attention," and it culminated with Wednesday's announcement that Trackhouse Entertainment Group had bought him out of NASCAR.

Marks' deep dive into the Ganassi operation begins next week when he works from the Concord shop. The one-car Trackhouse team with driver Daniel Suarez is currently aligned with Richard Childress Racing and Marks told AP that Trackhouse has only "about 25" of its own employees.

He'll need a larger workforce to field two cars next season, one for Suarez and the other Chevrolet for a driver to be named. Kurt Busch and Ross Chastain, the current Ganassi drivers, are both under consideration, but its been speculated that Busch will take sponsor Monster to 23XI Racing next season to help Denny Hamlin and Michael Jordan expand their team.

"My goal is to retain as much of the good working groups in that company as possible. There are good people in the company," Marks told the AP on Friday. "Everything inside that building is in place to run a successful company."

The introduction of NASCAR's Next Gen car -- designed to be affordable because spec parts will be mass-produced by outside companies -- will reduce labor within all race teams and inevitably lead to attrition inside the Ganassi shop.

"The new car is going to change the workforce structure," Marks said. "We have to look at the best way to build a company around a new car, and I want to fill in as many of those positions with Chip Ganassi people."

Marks, a 40-year-old former racer, is the first to admit he should have turned in his firesuit and helmet much earlier and shifted his focus toward his burgeoning motorsports portfolio. Marks raced in all three of NASCAR's national series -- and won an Xfinity Series race driving for Ganassi in 2016 -- and scored nine sports car victories in 67 starts.

Marks' financial start likely came from his father, Michael Marks, a well-known executive, founding managing partner of Celesta Capital and former minority owner of the Golden State Warriors. But Marks has been building his own portfolio, which includes the GoPro Motorplex karting facility in Mooresville that is modeled after a historic kart track in Parma, Italy.

When asked how he is paying for the purchase, Marks said he was legally bound not to discuss the details.

"Every entity has different financing, sometimes there is debt involved, sometimes it is investment," he said. "I think everybody is excited about the new blood coming in to the sport, the new ownership, and change is obviously scary for people. But I'm here for the right reasons. I'm here because I love racing."

FILE - Jamie McMurray, left, and car owner Chip Ganassi celebrate on the start-finish line after McMurray won the NASCAR Brickyard 400 auto race at Indianapolis Motor Speedway in Indianapolis, in this Sunday, July 25, 2010, file photo. Chip Ganassi has sold his NASCAR team to Justin Marks, owner of Trackhouse Racing, and will pull out of the nation's top stock car series at the end of this season. Ganassi fields two cars in the Cup Series but will transfer his North Carolina race shop and all its assets to Marks for 2022. “He made me a great offer that required my attention,” Ganassi told The Associated Press on Wednesday, June 30, 3031, as the sale was announced. (AP Photo/Tom Strickland, File)
FILE - Jamie McMurray, left, and car owner Chip Ganassi celebrate on the start-finish line after McMurray won the NASCAR Brickyard 400 auto race at Indianapolis Motor Speedway in Indianapolis, in this Sunday, July 25, 2010, file photo. Chip Ganassi has sold his NASCAR team to Justin Marks, owner of Trackhouse Racing, and will pull out of the nation's top stock car series at the end of this season. Ganassi fields two cars in the Cup Series but will transfer his North Carolina race shop and all its assets to Marks for 2022. “He made me a great offer that required my attention,” Ganassi told The Associated Press on Wednesday, June 30, 3031, as the sale was announced. (AP Photo/Tom Strickland, File)
FILE - Jamie McMurray, left, and car owner Chip Ganassi greet each other on pit road before a NASCAR Daytona 500 auto race at Daytona International Speedway, in Daytona Beach, Fla., in this Sunday, Feb. 17, 2019, file photo. Ganassi won the Daytona 500 and the Brickyard 400, two of the biggest races in NASCAR, with McMurray in 2010. Chip Ganassi has sold his NASCAR team to Justin Marks, owner of Trackhouse Racing, and will pull out of the nation's top stock car series at the end of this season. Ganassi fields two cars in the Cup Series but will transfer his North Carolina race shop and all its assets to Marks for 2022. “He made me a great offer that required my attention,” Ganassi told The Associated Press on Wednesday, June 30, 3031, as the sale was announced. (AP Photo/Terry Renna, File)
FILE - Jamie McMurray, left, and car owner Chip Ganassi greet each other on pit road before a NASCAR Daytona 500 auto race at Daytona International Speedway, in Daytona Beach, Fla., in this Sunday, Feb. 17, 2019, file photo. Ganassi won the Daytona 500 and the Brickyard 400, two of the biggest races in NASCAR, with McMurray in 2010. Chip Ganassi has sold his NASCAR team to Justin Marks, owner of Trackhouse Racing, and will pull out of the nation's top stock car series at the end of this season. Ganassi fields two cars in the Cup Series but will transfer his North Carolina race shop and all its assets to Marks for 2022. “He made me a great offer that required my attention,” Ganassi told The Associated Press on Wednesday, June 30, 3031, as the sale was announced. (AP Photo/Terry Renna, File)
Marcus Ericsson, right, of Sweden, celebrates with team owner Chip Ganassi after winning the first race of the IndyCar Detroit Grand Prix auto racing doubleheader on Belle Isle in Detroit, Saturday, June 12, 2021. (AP Photo/Paul Sancya)
Marcus Ericsson, right, of Sweden, celebrates with team owner Chip Ganassi after winning the first race of the IndyCar Detroit Grand Prix auto racing doubleheader on Belle Isle in Detroit, Saturday, June 12, 2021. (AP Photo/Paul Sancya)
The No. 99 Chevrolet driven by Daniel Suarez for Trackhouse Racing is displayed outside Tootsie’s Orchid Lounge in Nashville, Tenn., Thursday, June 17, 2021. Trackhouse hopes to be operating from downtown Nashville by 2023 and Marks is using Sunday’s first Cup race in the market in 37 years to lay the groundwork for his move. (AP Photo/Jenna Fryer)
The No. 99 Chevrolet driven by Daniel Suarez for Trackhouse Racing is displayed outside Tootsie’s Orchid Lounge in Nashville, Tenn., Thursday, June 17, 2021. Trackhouse hopes to be operating from downtown Nashville by 2023 and Marks is using Sunday’s first Cup race in the market in 37 years to lay the groundwork for his move. (AP Photo/Jenna Fryer)

Print Headline: Marks finds route to NASCAR

ADVERTISEMENT

Sponsor Content

ADVERTISEMENT
ADVERTISEMENT