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NASCAR rolls out its charter system

2015 Daytona 500 at Daytona (Fla.) International Speedway on Feb. 22, 2015 (photo courtesy of Getty Images for NASCAR)

2015 Daytona 500 at Daytona (Fla.) International Speedway on Feb. 22, 2015 (photo courtesy of Getty Images for NASCAR)

By AMANDA VINCENT

NASCAR rolled out its charter system during a press conference on Tuesday, providing details of a new team ownership model that is aimed at adding value to race teams in the Sprint Cup Series.

“Today represents a landmark change to the business model of team ownership in NASCAR,” NASCAR Chairman and CEO Brian France said. “The Charter agreements provide nine years of stability for NASCAR and the teams to focus on growth initiatives together with our track partners, auto manufacturers, drivers and sponsors. The Charters also are transferable, which will aid in the development of long-term enterprise value for Charter members.”

The new model includes a reduction in race fields from 43 cars to 40, with 36 of those positions going to teams with charters. Charters guarantee starting spots for the teams that hold them, while the other four positions on a given race’s starting grid will be up for grabs for teams not holding charters.

In addition to race starting spots, charters will also give teams more say in decisions governing the sport through participation in a newly-formed Team Owner Council. All 36 charter teams will have representation on the Council.

Charters will be good for nine years, and there is a four-charter maximum for each racing organization. Teams will be able to maintain their charters by remaining in good standing. Charters may be transferred through permanent sale or a lease. Leases will be good for one full season and a charter owner will only be able to lease out his/her charter once during a five-year period. NASCAR has the power to approve or deny new team owners.

“The new Charter program strengthens each of our businesses individually and the team model as a whole, which is good for NASCAR, our fans, drivers, sponsors and the thousands of people who we employ,” Chip Ganassi Racing co-owner Rob Kauffman said. “This will give us more stability and predictability, and it will allow us to take a more progressive, long-term approach to issues.

“NASCAR and the teams share a desire to preserve, promote and grow the sport and ultimately produce great racing for our fans and partners. These common goals served as the foundation for discussions and helped bring us to this unprecedented agreement. This is a great step forward for the entire sport made possible by Brian France setting a new course for the NASCAR industry and the owners coming together on shared issues. Everyone involved then compromised a bit to be able to come up with something that worked for all.”

NASCAR also distributed a press release on Tuesday, listing the initial recipients of the 36 charters. Charters were distributed based on the following criteria over the last three years: performance, race purse performance, and points fund standing. One notable team missing from the list was the No. 21 Wood Brothers Racing team. The No. 21 team plans to compete full-time in 2016. It’ll be the team’s first year of full-time competition in several years.

Also worth noting: Stewart-Haas Racing has been a four-team the last two seasons and plans to field four cars in 2016. But SHR only received three charters. Similarly, four-team Joe Gibbs Racing only received three charters. Also, HScott Motorsports is a two-team organization with a single charter.

Meanwhile, it is assumed that at least two of the charters should hit the market soon. Michael Waltrip Racing received two charters, but that organization shut down at the end of the 2015 season. JGR and SHR are expected to purchase the two MWR charters.

Below, is the chart of charter teams (provided by NASCAR):

NASCAR Charter teams
(Listed by historical inception of race team entity, then numerical)

 

2015 Car #

 

2016 Car #

 

Organization

43

43

Richard Petty Motorsports

9

44

Richard Petty Motorsports

3

3

Richard Childress Racing

27

27

Richard Childress Racing

31

31

Richard Childress Racing

2

2

Team Penske

22

22

Team Penske

5

5

Hendrick Motorsports

24

24

Hendrick Motorsports

48

48

Hendrick Motorsports

88

88

Hendrick Motorsports

6

6

Roush Fenway Racing

16

16

Roush Fenway Racing

17

17

Roush Fenway Racing

1

1

Chip Ganassi Racing

42

42

Chip Ganassi Racing

11

11

Joe Gibbs Racing

18

18

Joe Gibbs Racing

20

20

Joe Gibbs Racing

15

TBD

Michael Waltrip Racing

55

TBD

Michael Waltrip Racing

4

4

Stewart-Haas Racing

10

10

Stewart-Haas Racing

14

14

Stewart-Haas Racing

78

78

Furniture Row Racing

35

34

Front Row Motorsports

38

38

Front Row Motorsports

47

47

JTG Daugherty Racing

7

7

Tommy Baldwin Racing

13

13

Germain Racing

32

32

Go Fas Racing

23

23

BK Racing

83

83

BK Racing

62

62

Premium Motorsports

33

95

Circle Sport Racing

51

15

HScott Motorsports

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Posted by on February 9, 2016. Filed under Breaking News,Featured,NASCAR. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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