NASCAR’s Intentions of a Major Shakeup Could Force Tighter Financial Freedom on Cup Teams

NASCAR and the Cup Series teams have not met eye-to-eye in recent times over the stalled charter negotiations. The Team Alliance demands a better share of the profits for TV and other revenue sources, along with a permanent charter. Although NASCAR is ready to move the needle in terms of sharing revenues, they have stood their ground against permanent charters.

It’s no secret that NASCAR racing in the modern era has been burdensome for the teams. Even the likes of Hendrick Motorsports are struggling to churn out profits. However, it seems like NASCAR has started to take steps to further streamline the process in the 2025 season. A move that could further tie the hands of the team in how they run their operations.

Major executive-level changes in the NASCAR hierarchy

According to a report by Sports Business Journal, NASCAR President Steve Phelps sent out a memo that mentioned major changes to executive roles before the start of the 2025 season. This move is expected to allow the staff to get up and running with the new structure to aid the change of shifting to five broadcasters, along with other big changes.

Brian Herbst, Tim Clark, Ben Kennedy, Scott Prime, and Michelle Byron are the ones who are being handed new roles and added responsibilities. Kennedy, a former Truck Series driver himself at the age of 32, will be elevated to the profile of Executive Vice President and Chief Venue & Racing Innovations Officer.

This restructuring also included some playoffs in recent weeks from departments such as sponsorship sales. Thus sending a signal to the team that they are doing their bid in trying to manage the challenges of modern-day racing and the cost-conservation method. They have already. With these new changes, Phelps will have only three executives directly reporting to him, including COO Steve O’Donnell.

Brian Herbst is promoted to EVP and chief media and revenue officer. Michelle Byron will see herself take on a new role as EVP and chief partnering and licensing officer. Tim Clark, following a similar growth trajectory, is appointed as the new EVP and chief brand officer. Scott Prime will oversee his new role as SVP of global strategy. All of them will report to Steve O’Donnell.

Not only do these strategic changes ensure NASCAR runs efficiently from next year on, but they also allow them to focus on their ambitious project.

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NASCAR’s idea of international racing now within touching distance

NASCAR has openly endorsed the idea of expanding beyond its regional markets. Having already tested this model at the LA Coliseum and the Chicago Street Race, they are now eyeing setting up an international race outside the physical border of the USA. This was confirmed by Steve Phelps himself in the report.

“Will allow me to focus more on the strategic vision and global expansion of NASCAR-owned racing properties, which I believe to be the best and most exciting in the world,” Phelps said after the changes made to the executive level at NASCAR. So this truly would allow him to focus on promoting the brand of stock car racing, along with overseeing the potential of racing internationally.

While these are promising changes, perhaps now NASCAR and the team should sort out their differences regarding the new charter agreement. Without getting that in order, all of these ideas and changes would essentially amount to nothing.