The comparisons were inevitable. NASCAR’s charter system, which was introduced in 2016 to guarantee teams race spots and revenue shares, has seen values soar from single-digit millions in early deals to tens of millions today, amid ongoing legal battles. But despite the exponential increase, whispers continue to circulate about the current market value of the charters, and whether they truly capture the sports’ powerhouse appeal. Especially after a recent expansion deal.

The scrutiny became stronger when the National Women’s Soccer League came into the debate, as Atlanta just snagged the 17th franchise for a record $165 million fee. This women’s soccer development, despite a narrower TV reach than NASCAR, spotlights untapped potential in team valuations. So now let’s see how this expansion deal brings more backlash to NASCAR.

NASCAR insider highlights the charter value gap

On a recent episode of The Teardown podcast, hosts Jeff Gluck and Jordan Bianchi dove into the NWSL’s Atlanta bombshell, unpacking how its $165 million startup cost dwarfs NASCAR’s charter scene. Gluck pointed out the stark contrast right away: “The expansion fee for an NWSL team… was 165 million. That’s for women’s soccer, which does not have the same viewership that NASCAR has… So, you’re paying $165 million for a startups women’s soccer team, and currently the top NASCAR charters worth $50 million, maybe 60 million or something.”

This isn’t just chatter; NASCAR charters have expanded sixfold in four years, according to court documents in the ongoing antitrust suit. For example, 23XI paid a large amount of $28 million for one charter in 2024 versus $4.7 million for one in 2020. The lawsuit also started because of the charter agreement, as 23XI and Front Row opted out of NASCAR’s new charter deal. So all these things and the current valuation of the NASCAR charter amplified doubts about whether these assets truly reflect the sport being of a powerhouse caliber.

Bianchi chimed in on the lower end, noting, “The lowest level right now is $50 million. It would be fascinating to see if a Hendrick or Joe Gibbs, or Penske put one of their charters on the market and what that would fetch.” That curiosity ties into real market shifts: Live Fast Motorsports got over $40 million for a charter sale in 2023, but SHR’s closure last year has decreased the prices to $20-25 million amid the ongoing legal battle.

Gluck wrapped it with optimism but added a layer of criticism too: “There’s a lot more value to come in NASCAR if you can build these terms to go.” Background here traces to the 2016 charter introduction, which was meant to stabilize teams with 36 guaranteed spots in 40-car fields. The terms of the 2025 new charter agreement sparked the rift, where teams like 23XI claim it kills the competition.

The NWSL parallel isn’t just a fancy comparison; it’s an eye-opener for NASCAR to confront if its economic model matches the excitement on track. This charter battle underscores deeper growing pains that demand tweaks at their earliest. But while NASCAR’s powerhouse status is being scrutinized amid these lawsuit hurdles, some voices are suggesting changes to make the Cup Series more interesting.

Jordan Bianchi opens up about overhaul for Cup revival

NASCAR’s Cup Series is already packed with a 36-race grind and playoff puzzles that frustrate fans and a few drivers. Fans crave clarity, and this is seen in polls showing a nod to simpler setups like the old 10-race Chase over current formats. But still, the sport prioritizes high drama over consistency.

Enter Jordan Bianchi, the Teardown co-host and veteran reporter, who suggested a bold fix about making the Cup Series more exciting and less complicated. And he framed his suggestion across five pillars: schedule, teams, playoffs, competition, and business.

Bianchi kicked off with streamlining the calendar, proposing a clean 30-race slate. “Five categories: I separated them out into schedule, team-specific issues, playoffs, competition, or the business side,” he explained, hinting at root issues like big teams dominating with four-car charters.

“I want to limit three cars and three cars on. No four-car teams. Ideally, I would love to go even further and go to two-car teams. I just don’t know if that may be an approach too far. So I want to go to three car teams,” the journalist said. Bianchi suggested that giving only three charters to big teams like Hendrick or Joe Gibbs would level the field.

Bianchi’s take builds on the Next Gen car’s 2022 debut, which was introduced to bring equality between small and big teams. But because of bigger teams sharing tech secrets among themselves through agreements, this parity was not totally achieved.

As NASCAR eyes 2026 tweaks amid fan feedback, Jordan Bianchi’s blueprint feels like a timely suggestion for a sport that now feels simultaneously exciting but complicated.