As part of the bigger plan of revolutionizing the sport, NASCAR now has its eyes set on the new broadcasting deal that will come into play after 2024. But according to a recent report, it seems like the teams have also begun preparing their homework along with the executives in the NASCAR offices.

This is because Racing Team Alliance, a group of 14 Cup Series teams, has reportedly hired a consultant “to maximize their position heading into negotiations.” 

Although this shouldn’t be a surprise considering how long the teams have been signaling toward the unfair distribution of media revenue.

In the current deal,  65% of the money from a race goes to the track, 25% goes to teams and 10% goes to the sanctioning body.

As a result, teams have to rely on sponsorship for more than 70% of their total revenue.

NASCAR is a sleeping giant according to 23XI Racing investor

Curtis Polk, the longtime financial advisor of Michael Jordan and an investor in the Denny Hamlin-Michael Jordan-owned 23XI Racing team, spoke about the untapped potential of the sport.

“One of the things we’ve learned is the economics of the sport, and I think the sport is a sleeping giant, but from the team ownership side it’s very sponsor dependent and we need to address that model,” he said.

“Michael and I could add a lot of info we’ve learned from being with the NBA for many years and also owning a major league baseball team,” Polk added.

“So that’s what we’ve been working on a lot with Denny is to help educate him as to what a better economic model might be and to help develop that and hopefully we’ll have a lot of ears that will listen to us.”

Also Read: Former NASCAR Champion Darrell Waltrip Serves as a Voice of Reason Amidst Serious Next Gen Concerns