Chip Ganassi Racing has confirmed that, as expected, it has signed the reigning Indy 500 and IndyCar Series champion Dario Franchitti for the 2008 NASCAR Sprint Cup Series season.

The 34-year-old was released from his contract with Andretti Green Racing earlier this week, fuelling speculation that a move to NASCAR was imminent, with Chip Ganassi's outfit confirming that he will drive the #40 Dodge alongside Reed Sorenson and Juan Pablo Montoya next season at the start of a multi-year deal.

"Any time you can sign a driver of Dario's calibre you have to be thrilled," Ganassi said. "Dario is a world-class driver. He is a proven winner, an Indianapolis 500 champion and an accomplished individual that will be a super team-mate to both Juan Pablo and Reed."

Franchitti will now start his preparations for the new season in much the same way as Colombian Montoya kicked off his plans after leaving Formula 1 last year as he attempts to qualify for the ARCA race at Talladega on Friday.

The Scot, who is one of the most successful British drivers in American open-wheel history, admitted that he had kept his eye on Montoya to see if a switch to NASCAR would be possible and said he could only jump at the chance to join Ganassi's eponymous outfit – the team he was forced to fend off to secure his IndyCar title.

"I've always admired Chip's teams having competed against them over the years, and recently paid particular attention to Juan's successful transition this season," the Scot said. "This is a great opportunity to join one of NASCAR's premier teams."