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Rick Hendrick reveals surprising reason for signing NASCAR charter agreement

Brian Jones Profile Picby:Brian Jones•09/10/24•

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Rick Hendrick
(Photo by Sarah Crabill/Getty Images)

Rick Hendrick was very honest when asked about his reason for signing NASCAR’s new charter agreement. Per Jenna Fryer of the Associated Press, the owner of Hendrick Motorsports explained why he signed the new deal.

“I was just tired,” Hendrick said. Other owners, most drivers and all fans likely feel the same way as the charter deal has been an ongoing process. Hendrick was one of the 13 owners to sign the new agreement before the playoff opener at Atlanta Motor Speedway. Two teams, 23XI Racing and Front Row Racing, did not sign the new agreement that comes after two years of negotiations.

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When it comes to the new charter deal, teams wanted four things: a larger share of revenue, a seat at the the table for governance issues, a cut on business deals NASCAR does that use team or driver likeness, and charters becoming permanent, according to the Associated Press. The final offer did not include permanent charters, and teams told the AP that it was presented as a “take it or leave it final offer.”

More on NASCAR charter negotiations

Brad Keselowski, current driver and co-owner of RFK Racing, disputed the notion that teams felt “forced” to sign. “It’s one of these agreements that is only good when everybody’s just a little bit jaded,” Keselowski said. “I think there’s things obviously we would like to have better, but I think to some degree, there’s pieces that we really like, and there’s pieces not so much. But it’s hard to use the word ‘fair.’ I don’t know if I know what that means.”

According to Fox Sports, teams have argued they deserve a bigger percentage of the television rights deal, a reported $1.1 billion deal that runs from 2025-2031 with FOX, NBC, Amazon, Warner Bros. and TNT Sports. Under the last deal, teams were paid 25 percent of the TV revenue through the race purse while NASCAR took 10 percent and the tracks got 65 percent.

Before the 2024 season began, Hendrick said he thinks a deal could be done “pretty soon … because it’s too important to everybody, NASCAR, the owners and the tracks. It’s just, we got to get it done.”