NASCAR floated the possibility of changing a clause in its charter system that would allow a member of the France family to buy into a team, but the idea may be scrapped after receiving pushback, according to sources. The sides have been in talks to strike a new revenue sharing agreement that would start next year in tandem with NASCAR‘s fresh media rights agreements. Teams are demanding four terms in the new charter agreement: 1) 45% of traditional media revenue 2) Permanent charters 3) 33% of new revenue 4) Greater governance powers. While they have yet to come to terms, NASCAR has engaged at different times with the teams about what a deal would look like over the last 18 months, including meeting individually with many teams despite the initial desire by the Race Team Alliance to negotiate through its own committee.
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Teams met with NASCAR this past week for a Team Owner Council meeting, where the topic of the charter agreement came up. While NASCAR is sticking to its offer of a seven-year renewal of the charters rather than making them permanent, NASCAR has told teams that it doesn‘t intend to end the system and that it believes the system works better by aligning them with their all-important media deals.
Some teams have also proposed starting a path toward making them permanent even if it doesn‘t happen during this next cycle from 2025 through 2031
