The basis of the NASCAR lawsuit has been financial. Since the trial began on December 1st, we have witnessed the revelation of tall figures of loss. For example, Front Row Motorsports owner Bob Jenkins revealed that he loses $6.8 million per year on average. In fact, he is depending on the lawsuit’s success for the survival of his team, alongside 23XI Racing. But what people did not expect so easily was Rick Hendrick’s similar predicament.

NASCAR lawsuit reveals a dark plight

“Over the past five years, Hendrick Motorsports has won 20 NASCAR Cup Series championships – and lost $20 million. I’d be happy to show you audited financial statements. I love this sport, and my passion for it keeps me engaged, but there’s a clear business reality. Before we can possibly reach an agreement, NASCAR must acknowledge the current model is unsustainable for teams and cannot continue without substantive, fundamental change,” read a section of Rick Hendrick’s letter to Jim France, the CEO of NASCAR, in 2023.

Exposing this letter provides significant evidence in the NASCAR lawsuit. With the 2nd week of the lawsuit’s trial ongoing, we have already learned of major struggles that other teams felt. Richard Childress, who testified earlier Tuesday, said that his highly successful team would have gone bankrupt. He was able to sustain it only by generating income through other businesses and avenues. And now, Rick Hendrick has also added to the narrative of losing money.

“To allow our racing programs to operate, Hendrick Automotive Group did $1 billion in business with Hendrick Motorsports sponsors in 2023,” Rick Hendrick’s letter further read. “We have invested in building star drivers and have promoted the sport as much as anyone over the last four decades. Our organization and our partners direct tens of millions of dollars back to our company.”

When Jim France took the witness stand recently, plaintiffs’ attorney Jeffrey Kessler grilled him. He presented evidence that showed the likes of Joe Gibbs, Rick Hendrick, and Roger Penske had pleaded with France in the past for permanent charters for their teams. And France clearly stated that he still has not changed his status on the matter.

Rick Hendrick is yet to take the witness stand. But when he does, it will have a major impact on the NASCAR lawsuit.

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The value of the big names

When NASCAR dropped the charter deal back in September 2024, they allowed only 24 hours. Teams had to think and decide in that limited time, which Heather Gibbs described as a ‘gun to their heads’. The two years of negotiation with the Race Team Alliance screeched to a sudden halt, and teams felt helpless. But recently, RTA executive director Jonathan Marshall testified that a week before the take-it-or-leave-it offer, teams got a final version. And owners Joe Gibbs, Rick Hendrick, and Roger Penske all indicated they planned to sign.

“There was a lot of discussion that these three men had been speaking to Jim France, trying to get accommodations on issues, and it was clear it wasn’t going to happen,” Marshall said during the NASCAR lawsuit trial. “These were very friendly team owners with the Frances, in some cases, over 50 years. Once those three signed, no one felt a better deal would be available.”

Hence, Rick Hendrick is one of the big team owners who drives the pulse of the sport. So let’s wait and see what he brings to the court soon.