NASCAR teams are divided on the issue of making charters permanent. Previously, it was rumored that many teams, including HMS, JGR, and 23XI Racing, preferred perpetual charters. According to recent reports, some teams may agree to NASCAR’s plan in the coming months if they receive more substantial charter guarantees.
Now it appears that at least one team is on board with NASCAR’s idea. The team’s owner has publicly supported NASCAR’s stance. That might not bode well for Denny Hamlin and Michael Jordan’s future plans.
Has NASCAR been able to persuade a team to agree to its charter agreement?
The goal for the teams was to present a united front in a sport where the sanctioning body, track owners, the squad, and drivers all believe they deserve a fair slice of the revenue pie. Denny Hamlin earlier had indicated the falling apart of the teams’ unity saying, “Every team does want a little different things here and there. … This is such an important thing — we’ve had 11 teams go out of business since 2016. That’s not good..” And it looks like NASCAR might have just pulled off the first string of a classic divide-and-conquer strategy.
Justin Marks, the owner of Trackhouse Racing, hinted in a chat on SiriusXM NASCAR that they’re leaning towards accepting NASCAR’s proposal. He mentioned, “It has to be… more cost-effective to run this business. I think NASCAR understands that. We’re having conversations around what costs look like in the new charter agreement that we’re all working on. So I would look at that and I know some of those conversations that we’re having with NASCAR. that out of respect to everybody should stay there. […] negotiations with NASCAR on this charter renewal, and it’s not just about the money, it’s about kind of… You look at everything in the relationship between teams and NASCAR.”
While he didn’t spell it out directly, he hinted that because NASCAR is actively engaging with teams on governance, team rights, technology, and rule changes, and openly addressing their concerns, the new agreement is likely going to benefit the teams significantly. He mentioned that NASCAR has been quite receptive to the teams’ business models and has laid out a framework to tackle these issues.
And that’s why, for now, it looks like it’s just Denny Hamlin and Michael Jordan’s 23XI Racing on board with the permanent charter demands. But why might Trackhouse Racing be leaning towards siding with NASCAR instead of aligning with other teams?
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