NASCAR Implements Team Owner Charter Agreement for NASCAR Sprint Cup Series

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Published in Sprint Cup Series News
Tuesday, 09 February 2016 13:43
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During a historic event held today in Charlotte, N.C., NASCAR Chairman and CEO Brian France joined with NASCAR Sprint Cup Series team owners to announce a landmark long-term agreement that provides teams with increased business certainty and the ability to work more closely with NASCAR to produce best-in-class racing.

In effect as the 2016 NASCAR season prepares to kick off this weekend, the new Charter system addresses three key areas – participation, governance and economics – to promote a more predictable, sustainable and valuable team business model. The agreement grants NASCAR Sprint Cup Series Charters to 36 teams, establishes a Team Owner Council that will have formal input into decisions, and provides Charter teams with new revenue opportunities including a greater interest in digital operations.

"Today represents a landmark change to the business model of team ownership in NASCAR," 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 system affords Charter teams that remain in good standing more predictable revenue over the nine years of the agreement. Along with improved financial certainty, the new framework is designed to increase the long-term market value of teams and provide the ability to plan farther ahead with existing, new and prospective partners.

Similar to the five-year sanctioning agreements that NASCAR begins with tracks in 2016, team owner Charter agreements allow for longer planning cycles around competition, innovation, digital marketing, governance and research and development.

"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," said Rob Kauffman, co-owner of Chip Ganassi Racing. "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."

Each Charter team owner has a guaranteed entry into the field of every NASCAR Sprint Cup Series points race. To maintain the historical openness of NASCAR racing, the balance of the field will be open for team owners who do not hold Charters. These Open team owners will compete for the remaining starting spots and positions in the race, as each event in the NASCAR Sprint Cup Series’ starting lineup shifts in 2016 to a 40-car field.

"The new team owner agreements will offer a more appealing environment for both current and prospective team owners at the NASCAR premier series level," France said. "I’ve always stressed that if we can do things to improve the business of our stakeholders, we will pursue it. I’m very proud of what we’ve accomplished today with this agreement."

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


NASCAR PR
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Steven B. Wilson

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