Start Daytona 500

NASCAR News: The France Family wants to buy some Team Charters

The France family would be able to buy NASCAR charters starting in 2025 under terms of the latest charter offer to teams, despite initial questions over whether the provision would ultimately be included.

The family has owned and controlled NASCAR Holdings since the inception of the racing series in 1948 by Bill France Sr. The current version of the charter agreement, which was implemented in 2015 and expires after 2024, bars any member of the France family who has an active role in NASCAR event management from owning a stake in a charter.

Related ArticleNASCAR News: Cup Teams extend charter negotiations

NASCAR’s offer this time is for seven years guaranteed with an option for another seven years after that, sources say.

NASCAR has also included plans for a team cost cap in the latest charter offer, as well as rules that spell out the terms under which NASCAR would allow private equity firms to buy into a charter, the sources said.

Teams have said they were sticking together in their negotiations over the last year, but it couldn’t be ruled out whether some of the 15 chartered teams are preparing to sign NASCAR’s offer. It was unclear when NASCAR wants to have the process completed. Sports Business Journal

Social Media Auto Publish Powered By :