<a href="https://www.on3.com/pro/category/nascar/news/">NASCAR</a> is hoping to reach an agreement on a new governing charter system with its Cup Series teams this week, according to <a href="https://www.sportsbusinessjournal.com/Articles/2024/09/03/nascar-looking-to-wrap-up-charter-negotiations?publicationSource=sbd&issue=ffc261c61ff24ea88d1cf1f13295b2e4" target="_blank" rel="noreferrer noopener">Adam Stern of Sports Business Journal</a>. 



The sanctioning body wants to wrap up its new charter deal to avoid having talks spill over throughout the 10-race playoffs. Teams received the latest charter proposal last week and Stern noted in his report that “some teams appear to be at a point, or nearing a point, where they’ll be ready to sign NASCAR’s offer.” Still, it remains to be seen if a deal will get done this week ahead of Sunday’s playoff opener at Atlanta. 



<a href="https://prizepicks.onelink.me/ivHR/ON3" target="_blank" rel="noreferrer noopener">CLICK HERE to go to PrizePicks and use code ON3 to receive a guaranteed $50 once you play $5 in lineups!</a>



Negotiations have been ongoing over the last two years, and “teams have secured a commitment from NASCAR to increase the amount of media rights revenue they receive in the next term,” per Stern. NASCAR notably announced $7.7 billion in media rights deals with FOX Sports, NBC, Warner Bros. Discovery and Amazon for 2025-2031. Teams currently get 25% of broadcast revenue, tracks 65% and NASCAR 10%. 



Under the current model, in place since 2016, charters are not permanent franchises like the setup in other professional sporting leagues. Teams can lose their charters due to poor performance on the racetrack or failing to field their cars each week. As a result, most teams lose money on a yearly basis. Teams argue that by not having permanent charters, it makes it more difficult to attract outside investors and invest in their operations. 



<h2 class="wp-block-heading" id="h-23xi-racing-s-curtis-polk-wears-hilarious-sign-at-darlington-after-receiving-new-charter-offer-from-nascar">23XI Racing’s Curtis Polk wears hilarious sign at Darlington after receiving new charter offer from NASCAR</h2>



There were signs of more frustration from teams this past weekend at Darlington, with 23XI Racing investor Curtis Polk <a href="https://www.on3.com/pro/news/23xi-racing-curtis-polk-wears-hilarious-sign-at-darlington-after-receiving-new-charter-offer-from-nascar/">pinning a piece of paper on the back of his shirt</a> which read, “Please don’t ask me about my Charter. I don’t want to disparage NASCAR and lose it.” 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cup teams apparently got another charter offer from NASCAR this week. At least this member of the team owners negotiating committee (23XI’s Curtis Polk) doesn’t want to talk about it. <a href="https://t.co/Zi3AiJjMJ3">pic.twitter.com/Zi3AiJjMJ3</a>— Bob Pockrass (@bobpockrass) <a href="https://twitter.com/bobpockrass/status/1830358431431037281?ref_src=twsrc%5Etfw">September 1, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



23XI co-owner Denny Hamlin, who has been open about his frustration with charter talks, revealed on Monday’s “<a href="https://open.spotify.com/episode/33SVBiYXWqfcl4BT11fNqj?si=1598ea690fd84ca5&nd=1&dlsi=e1a62b274f8b4754" target="_blank" rel="noreferrer noopener">Actions Detrimental</a>” podcast that NASCAR inserted an anti-disparagement clause into drafts of the charter deal. Hamlin said that NASCAR doesn’t want teams “speaking negatively” about them. 



“I would choose not to speak about [Polk’s shirt], but it kind of speaks for itself, and I can’t believe he actually wore that,” Hamlin said. “They do not want you speaking negatively, that’s a new add to the charter agreement. We’ll see how that goes.”



<h2 class="wp-block-heading" id="h-nascar-president-steve-phelps-something-needs-to-change-in-team-charter-deals">NASCAR President Steve Phelps: ‘Something needs to change’ in team charter deals</h2>



NASCAR President Steve Phelps acknowledged on Kevin Harvick’s “<a href="https://www.youtube.com/watch?v=OqGj9lf8_U4" target="_blank" rel="noreferrer noopener">Happy Hour</a>” podcast last week that “something needs to change” in the charter deal moving forward. 



“Something needs to change because if it doesn’t change in my opinion in seven years when we’re re-negotiating the financials of these charters, it’ll come back to we’re not making any money or we’re losing X, Y and Z, and you’ll always be chasing that,” Phelps <a href="https://www.on3.com/pro/news/nascar-president-steve-phelps-something-needs-to-change-in-team-charter-deals/">said</a>. “If there’s more money given, typically what happens is race teams want to take every dollar and then some and spend it to go fast.



“Which I get because it’s a vicious cycle that exists. If you don’t go fast, you can’t get sponsorship, if you’re not winning, you can’t get sponsorship. We have seen over the last decade teams that don’t run well, it’s hard to get sponsorship, and they’ll lose it, and will either be stolen by another team or worse yet, they’ll leave altogether, which is not in the best interest of anyone.”

NASCAR

5GOATs

Report reveals timeline for NASCAR charter negotiations

team image

Pro News

NFL News

NFL Draft News

NBA News

NBA Draft News

Culture

Sports Betting

About

Football

Basketball

Women's Basketball

Softball

Baseball

Alabama

Arizona State

Arizona

Arkansas

Auburn

Baylor

Boston College

California

Removed

Clemson

Colorado

Duke

Florida

Florida State

Georgia

Georgia Tech

Illinois

Indiana

Iowa

Iowa State

Kansas

Kansas State

Kentucky

Lettermen Row

Lettermen Lounge

Louisville

Maryland

Miami

Michigan State

Michigan

Minnesota

Mississippi State

Missouri

NC State

Nebraska

North Carolina

Northwestern

Notre Dame

Ohio State

Oklahoma

Oklahoma State

Ole Miss

The Main Board

Oregon

Oregon State

Penn State

Pittsburgh

Purdue

Rutgers

South Carolina

Stanford

Syracuse

Tennessee

Texas A&M

Texas

Texas Tech

UCLA

Utah

Vanderbilt

Virginia

Virginia Tech

Wake Forest

Washington

Washington State

West Virginia

Wisconsin

BamaOnLine

BOL Round Table

Inside Texas

IT Members Only

DawgsHQ

Dawg Walk

Scoop Duck

Recruiting & Sports

AuburnSports

The Corner

WeAreSC

GarryP's Trojan Huddle

The Wolverine

The Fort

The Lions Den

The Wolfpacker

The Wolves’ Den

GatorsOnline

Swamp Talk

Alabama A&M

Alabama State

Albany

Alcorn State

Abilene Christian

Appalachian State

Akron

Army

Austin Peay

Arkansas-Pine Bluff

Arkansas-Little Rock

Arkansas State

Air Force

Ball State

American

Wofford

Winthrop

Wisconsin-Milwaukee

Wisconsin-Green Bay

Wichita State

Western Carolina

Volleyball

Gymnastics

Men's Lacrosse

Women's Lacrosse

Men's Soccer

Women's Soccer

Women's Track

Men's Golf

Women's Golf

Men's Hockey

Women's Hockey

Men's Swimming

Women's Swimming

Wrestling

Men's Tennis

Women's Tennis

Annual $1

Annual Premium

Annual $1 

Monthly

Annual

Unlimited Access to This and All Articles.

Article (On3 Plus Rivals)

Forum (On3 Plus Rivals)

Intro

Join

College scoop, experts, and community - all in one.

Winback

Top transfer commits

Jordan Seaton

Goes scorched earth on Ole Miss

Dabo Swinney

New details emerge

Bediako ruling

Expected to stay at 12 teams

College Football Playoff

Texas announces surgery for QB

Arch Manning health