When Chip Ganassi Racing (CGR) owner Chip Ganassi was informed of rumours that Wheldon might leave AGR, he engaged in informal discussions with him, which led to an agreement in principle at a meeting in August 2005. His AGR contract expired on 31 October and formal discussions began soon after. CGR resigned Wheldon for the 2006 season and the team changed manufacturers from Panoz to Dallara and engine suppliers to Honda after Toyota withdrew. Wheldon made the switch because he wanted to ensure his stay in the IRL and remain competitive. To begin the season, Wheldon won the Toyota Indy 300 at Homestead–Miami Speedway. At the Indianapolis 500, he qualified in third place, and led a race-high 148 laps before falling to fourth because he had to make a pit stop to replace a puncture on the 183rd lap. Wheldon achieved eight top-ten finishes and two pole positions (at Kansas Speedway and Nashville Speedway), and entered the season's final round at Chicagoland Speedway as one of four drivers in contention for the championship. Wheldon won the race but lost the championship on tiebreak to Sam Hornish Jr, who had won four races to Wheldon's two.