The France family has been the driving force behind NASCAR since 1948. This was when Bill France Sr. gathered racing enthusiasts at the Streamline Hotel in Daytona Beach, Florida, to create a standardized stock car racing series. So from constructing the iconic Daytona International Speedway in 1959 to introducing the charter system in 2016 to stabilizing team finances, the family has guided NASCAR through decades of growth to make it a multibillion-dollar enterprise.

Today, under the leadership of Jim France, the family’s legacy continues to shape the sport, but recent speculation has put their role under the spotlight. Reports in February 2025 suggested the France family might consider selling a stake in NASCAR, a move that could end their 77-year ownership and invite private equity into the sport’s core.

These rumors have ignited passionate discussions among fans, teams, and industry insiders, who are grappling with what a change in ownership could mean for NASCAR’s future. The sport is navigating a pivotal moment, with declining TV ratings and a push for international expansion, such as the 2025 Mexico City race, highlighting the need for fresh capital and innovation. Meanwhile, a legal battle with 23XI Racing and Front Row Motorsports over the charter system has added tension, raising questions about NASCAR’s governance and fairness.

“We’re always exploring ways to enhance our sport and bring in new resources,” NASCAR President Steve Phelps told Puck News, hinting at the family’s openness to new strategies without revealing their full plan. As the NASCAR community holds its breath, the France family’s next move could either preserve the sport’s storied traditions or propel it into a bold new era.

France family stands firm: No sale of NASCAR.

After months of speculation that the France family might sell a stake in NASCAR, NASCAR President Steve Phelps has delivered a clear message. “We are privately held by the France family, and we’re not interested in selling.” This statement, made in an interview with Puck News, quashes rumors that began circulating in February 2025, when reports suggested the family was exploring private equity partnerships.

The decision to maintain full ownership is a significant moment for NASCAR, reassuring fans who feared that outside investors might alter the sport’s traditional identity. The France family’s resolve reflects their belief that their stewardship remains essential to NASCAR’s success, a sentiment rooted in their history of guiding the sport through challenges like the 2008 economic downturn and the introduction of the Next Gen car in 2022.

While the France family is keeping NASCAR’s ownership intact, they are not closing the door to external investment entirely. Phelps highlighted the growing role of private equity at the team level, stating, “Private equity can play a valuable role in our sport by investing in teams, bringing in new sponsorships, and providing expertise.” This approach has already taken shape, with Knighthead Capital Management partnering with Legacy Motor Club and Joe Gibbs Racing, securing investment from Lance Snacks in 2025.

These partnerships bring financial stability and new sponsors, helping teams compete in an increasingly expensive sport. By allowing private equity into teams but not the sanctioning body, the France family is striking a balance between innovation and control, ensuring NASCAR benefits from new resources while preserving its family-run core. The decision comes at a critical time, as NASCAR faces both opportunities and challenges. The sport’s international ambitions, evidenced by the Mexico City race, require significant investment, while internal disputes, like the ongoing lawsuit with 23XI Racing and Front Row Motorsports, highlight tensions over revenue sharing and governance.

The France family’s choice to retain ownership signals confidence in their ability to navigate these issues without external partners taking the wheel. As one industry insider noted, “The France family’s commitment to NASCAR is unwavering, but they’re not afraid to adapt to keep the sport competitive.” This strategic pivot sets the stage for NASCAR to evolve while staying true to its roots, but it also raises questions about how the family will address the sport’s internal conflicts.

Steve Phelps breaks silence as 23XI Racing charter lawsuit turns ugly.

As 23XI Racing and Front Row Motorsports wage their antitrust suit, Phelps has cut through the noise with a candid assessment. The two teams sued in October 2024, accusing NASCAR of enforcing a monopoly by making charter extensions compulsory. Yet Phelps insists it’s “more of a contractual dispute than an antitrust lawsuit,” downplaying the legal drama. He pointed to overwhelming team support for the new charter terms.

“We had 13 of the 15 charter holders representing 32 teams sign. On balance, if there are winners and losers to the charter extension, I think the teams won. The number one thing the teams wanted was more money, which is exactly what we gave to them,” Phelps said, highlighting the 87 percent of charters that opted in before the 2025 season began. On why the lawsuit persists, Phelps did not mince words. “To date, they have not come up with anything. I don’t even know what their demands are. I don’t even know what they’re suing for,” he remarked, questioning the legal basis of the challenge.

With a U.S. Court of Appeals decision recently overruling 23XI and FRM’s injunction, Phelps concluded, “We’re either gonna settle or we’re gonna go to court. Do I think we’d be willing to entertain a settlement? Yeah. To date, they have not come up with anything.” As NASCAR navigates both ownership rumors and courtroom battles, one thing remains certain: Steve Phelps is determined to keep the sanctioning body firmly in family hands while defending its contractual prerogatives. This ensures the sport’s next chapter honors tradition even as it wrestles with modern challenges.