He is owner and CEO of Chip Ganassi Racing which operates teams in the IndyCar Series, WeatherTech SportsCar Championship, FIA World Endurance Championship, and Extreme E. He is the only team owner in history to have won the Indianapolis 500, the Daytona 500, the Brickyard 400, the Rolex 24 at Daytona, the 12 Hours of Sebring and most recently the 24 Hours of Le Mans.

Though a broken camshaft kept him from completing his first CART race at Phoenix, Ganassi qualified with the fastest speed, 197 mph, and competed in the Indianapolis 500 five times, with a best finish of 8th in 1983.

Ganassi's car then skated across the grass run-off area, slammed into the inside Armco barrier, tumbled multiple times and broke apart.

After a time he regained consciousness, and while initially suffered short term memory loss he would go on to feel he had made a full recovery.

Ganassi achieved his top sportscar result in the 1986 Kodak Copies 500 at Watkins Glen that taking the Camel Light class victory, with his race partner, Bob Earl (7th overall).

One of his teammates for the event, Johnny Dumfries set the fastest lap of the race prior to handing the car over to Ganassi upon whom the gearbox broke.

[9][10] Ganassi was formerly a vice president of FRG Group, his father's organization involved in commercial real estate, transportation and other areas.