Chip Ganassi, a prominent figure in auto racing for over 35 years, established his first IndyCar Series team in 1990. He expanded into stock car racing by acquiring a controlling interest in SABCO Racing from Felix Sabates during the 2001 season, forming Chip Ganassi Racing with Felix Sabates. DEI, founded by Dale Earnhardt and Teresa Earnhardt in 1980, had won over 100 races across three NASCAR series, including 24 Cup-level victories and three Daytona 500 wins. Teresa inherited the company after Dale's death in 2001. On November 12, 2008, Chip Ganassi and Teresa Earnhardt announced the merger of their NASCAR operations, creating Earnhardt Ganassi Racing with Felix Sabates for the 2009 season. The new team operated out of Ganassi's NASCAR shop and returned to Chevrolet equipment, inheriting DEI's engine partnership with Richard Childress Racing (as Earnhardt Childress Racing Technologies).
In its inaugural 2009 season, Earnhardt Ganassi Racing initially intended to field four Cup cars but started with three due to sponsorship issues. The team ran the #1 Bass Pro Shops Chevrolet with Martin Truex Jr. and the #42 Target Chevrolet with Juan Pablo Montoya, both fully sponsored. The #8 car, driven by Aric Almirola, started the season but withdrew after seven races due to a lack of sponsorship. Juan Pablo Montoya was the only EGR driver to qualify for the Chase for the Sprint Cup in 2009, finishing sixth in the year-end standings. In 2010, Jamie McMurray replaced Martin Truex Jr. in the #1 car and won the Daytona 500 in his first race with the team. McMurray also won the Brickyard 400 and the Bank of America 500 that season. Montoya secured a victory at Watkins Glen in 2010. For the 2013 season, Earnhardt Ganassi Racing switched to Hendrick Motorsports engines. Teresa Earnhardt had limited involvement in the team's day-to-day operations during the merger period. In 2014, the team reverted to the Chip Ganassi Racing name.
In June 2021, Chip Ganassi accepted an offer from Justin Marks to sell the entire NASCAR operation to Marks' Trackhouse Racing team, with the deal finalized after the 2021 season. This sale concluded Ganassi's two decades of stock car competition. Following the sale, Chip Ganassi Racing refocused on its IndyCar Series program, where its drivers Scott Dixon and Álex Palou have combined to win five of the last six championships through 2025, along with Indianapolis 500 victories in 2022 and 2025.
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