Front Row Motorsports paying between $20-$25M for Stewart-Haas charter

Front Row Motorsports will pay between $20 and $25 million for a charter from Stewart-Haas Racing, according to the Sports Business Journal. Front Row announced last week it was buying a charter days after SHR announced it’s closing at the end of the year.

Sports Business Journal said the price range is a drop from the $40 million paid for a charter last year in a deal between Spire Motorsports and the now-defunct Live Fast Motorsports. It’s been reported the price drop has to do with supply and demand, as there have been half a dozen charters on the market this year. Additionally, NASCAR and the teams have yet to agree on a new charter agreement and revenue-sharing system.

Front Row will move to a three-car team next year. Currently, the team features Michael McDowell and Todd Gilliland with rookie Kaz Grala racing in the Cup Series part-time. Front Row has never won a Cup Series title but has claimed four Cup Series race wins since launching in 2004.

Front Row Motorsports executives react to purchasing a charter

“We have a very positive outlook on the future of NASCAR and as the sport plans for success, so do we,” FRM owner Bob Jenkins said in a statement about purchasing a charter. “Today that means having a plan for expanding back to three cars in the NASCAR Cup Series. I always have the vision to continue to grow and improve our team and that commitment and desire never changes. I am committed to the sport and its passionate fans and partners.”

“It is good to get the news out now as we have a lot of work to do to prepare a new team,” FRM general manager Jerry Freeze said. “All of us on the leadership team will be working through that, obtaining the parts and pieces needed for the new team. And, most importantly, adding to the dedicated and talented staff and culture that exists today within our organization.

“Starting a new team from scratch is always a challenge, but with the opportunities in front of us, the talent we have in our leadership, and a bit of a runway to get there, I am confident that we can produce three competitive programs out of the box for the 2025 season. We haven’t lost sight of what our goals for 2024 are, to get our teams into the playoffs for both series. If we can keep up the speed on track and have a little bit of luck to come our way, we can achieve our objectives.”

On3’s Nick Geddes contributed to this story.