NASCAR News: Pundit Alleges NASCAR of Lying About Charter Negotiations to Save Face

Published 04/23/2024, 5:33 AM EDT

The talks about negotiations between NASCAR and the Cup teams have been in the air since early February as the current deal is ticking down to its 2024 expiration. The charter system, which was set up to ensure teams get certain financial benefits and perks, is at the heart of these talks. The teams are pushing for a sweeter deal and hoping to make the charter system a permanent fixture. Time’s running out, though. Despite the anticipation of some developments, the folks over at Door Bumper Clear say there’s been no real progress yet.

NASCAR insiders are saying things are pretty stalled when it comes to the charter agreements

The DBC crew chewed over what might be going on behind the scenes. Brett Griffin threw out there, “It’s just kind of weird that that comes out and then the first thing that comes out from the ownership side is they’ve had no movement. Which one you think is accurate?” Freddie Kraft chimed in with, “I’m going to go with the no movement side because there seemed like there’s one guy that said they were close and just about every owner that I have seen.”

Article continues below this ad

Brett Griffin also threw his weight behind the idea that owners should have charters for keeps, not just a set period. Citing an example, he said, “If you owned something and they told you could have this worth for seven years but you thought that your position in the sport was worth it for lifetime that is a big deal. It’s like me giving you a charter and I’m telling you, ‘Alright Freddy, I’m going on to let you have this for seven years’, and you go ‘No, I want it forever, like if I’m invested here. I want it forever’, and they go, ‘No, you can’t have it forever we’re going to basically let you have it for 7 years’. So essentially you’re building your house on land that you do not own. And then the land owner could come back in seven years and go I’m taking the house from you.”

Freddie Kraft further pointed out how risky it is for NASCAR teams like Spire that shelled out $40 million for charters, with no surety on whether they’ll keep them or they might get it snatched away next year. It’s definitely a roll of the dice. And it’s not just about the money—they’re worried this could also throw a wrench in the works for selling Tony Stewart’s charters, something that’s been buzzing around lately.

On top of that, it’s not just the DBC crew talking about this standoff. Even Jimmie Johnson recently spoke up, highlighting the deadlock between NASCAR and the teams.

Article continues below this ad

Jimmie Johnson shed some light on the sticky situation with the charter agreement

While fielding questions from reporters, the conversation turned to the ongoing charter negotiations. Jimmie Johnson pointed out that the sticking point was partly about the cash, noting he was happy to let the more seasoned team owners take the lead in discussions. He threw in a quote from Rick Hendrick, saying, “It’s not about the money until it’s about the money. So, ultimately there are protections I think that team owners are looking for, longevity that absolutely shore things up for them financially. Sure there’s discussions around money that come on the front side through the the TV partnership that are important.”

He also highlighted that the financial details tied to TV deals are still up in the air, and NASCAR teams are eager to cement their places in the sport by locking down their charters for good. Despite the league currently only offering a 7-year extension on those charter agreements, Johnson emphasized that the teams are not backing down and are pushing for more.

Article continues below this ad

It looks like there’s still a bit of road to travel before any solid agreements are reached on the charter negotiations.

SHARE THIS ARTICLE :

Written by:

Neha Dwivedi is a NASCAR Writer at EssentiallySports. As a journalist, she religiously believes in the power of research, which allows her readers to dive deep into her stories and experience the detailed nuances of the sport like never before. Being proficient with Core Sport and Live Event Coverage, she has written multiple copies on the top entities of Stock Car Racing, like Denny Hamlin, Chase Elliott, and Tony Stewart.

Edited by:

Ariva Debnath

NASCAR News: Pundit Alleges NASCAR of Lying About Charter Negotiations to Save Face

NASCAR insiders are saying things are pretty stalled when it comes to the charter agreements

Jimmie Johnson shed some light on the sticky situation with the charter agreement

Trending

Sister Kelley & Jordan Fish React as Dale Jr’s Wife Sends Heart-melting Message on Their Daughter’s Special Day

Michael Jordans’ Entrepreneurial Drive Could Potentially Be the End of 23XI and Denny Hamlin’s Dream

Denny Hamlin Reveals the Harsh Reality That Awaits NASCAR At the End of 2024 – “We Just Wouldn’t Show up”

6 Years After Retiring, Danica Patrick Hops Behind the Wheel and Fans Can’t Get Enough

Daytona 500 Champ Might Have Defended Team From $39.53 Billion Loss to Joe Gibbs Amid Possible Ownership Shuffle