New Collaborative Business Model for Owners and Tracks Now in Place for 2016
DAYTONA BEACH, Fla. (February 9, 2016) – During a historic event held today in Charlotte, N.C., NASCAR Chairman and CEO Brian France joined with NASCAR Sprint Cup Series team owners to announce a landmark long-term agreement that provides teams with increased business certainty and the ability to work more closely with NASCAR to produce best-in-class racing.
In effect as the 2016 NASCAR season prepares to kick off this weekend, the new Charter system addresses three key areas – participation, governance and economics – to promote a more predictable, sustainable and valuable team business model. The agreement grants NASCAR Sprint Cup Series Charters to 36 teams, establishes a Team Owner Council that will have formal input into decisions, and provides Charter teams with new revenue opportunities including a greater interest in digital operations.
“Today represents a landmark change to the business model of team ownership in NASCAR,” France said. “The Charter agreements provide nine years of stability for NASCAR and the teams to focus on growth initiatives together with our track partners, auto manufacturers, drivers and sponsors. The Charters also are transferable, which will aid in the development of long-term enterprise value for Charter members.”
The system affords Charter teams that remain in good standing more predictable revenue over the nine years of the agreement. Along with improved financial certainty, the new framework is designed to increase the long-term market value of teams and provide the ability to plan farther ahead with existing, new and prospective partners.
Similar to the five-year sanctioning agreements that NASCAR begins with tracks in 2016, team owner Charter agreements allow for longer planning cycles around competition, innovation, digital marketing, governance and research and development.
“The new Charter program strengthens each of our businesses individually and the team model as a whole, which is good for NASCAR, our fans, drivers, sponsors and the thousands of people who we employ,” said Rob Kauffman, co-owner of Chip Ganassi Racing. “This will give us more stability and predictability, and it will allow us to take a more progressive, long-term approach to issues.
“NASCAR and the teams share a desire to preserve, promote and grow the sport and ultimately produce great racing for our fans and partners. These common goals served as the foundation for discussions and helped bring us to this unprecedented agreement. This is a great step forward for the entire sport made possible by Brian France setting a new course for the NASCAR industry and the owners coming together on shared issues. Everyone involved then compromised a bit to be able to come up with something that worked for all.”
Each Charter team owner has a guaranteed entry into the field of every NASCAR Sprint Cup Series points race. To maintain the historical openness of NASCAR racing, the balance of the field will be open for team owners who do not hold Charters. These Open team owners will compete for the remaining starting spots and positions in the race, as each event in the NASCAR Sprint Cup Series’ starting lineup shifts in 2016 to a 40-car field.
“The new team owner agreements will offer a more appealing environment for both current and prospective team owners at the NASCAR premier series level,” France said. “I’ve always stressed that if we can do things to improve the business of our stakeholders, we will pursue it. I’m very proud of what we’ve accomplished today with this agreement.”
NASCAR Charter teams
(Listed by historical inception of race team entity, then numerical)
|2015 Car #||2016 Car #||Organization|
|43||43||Richard Petty Motorsports|
|9||44||Richard Petty Motorsports|
|3||3||Richard Childress Racing|
|27||27||Richard Childress Racing|
|31||31||Richard Childress Racing|
|6||6||Roush Fenway Racing|
|16||16||Roush Fenway Racing|
|17||17||Roush Fenway Racing|
|1||1||Chip Ganassi Racing|
|42||42||Chip Ganassi Racing|
|11||11||Joe Gibbs Racing|
|18||18||Joe Gibbs Racing|
|20||20||Joe Gibbs Racing|
|15||TBD||Michael Waltrip Racing|
|55||TBD||Michael Waltrip Racing|
|78||78||Furniture Row Racing|
|35||34||Front Row Motorsports|
|38||38||Front Row Motorsports|
|47||47||JTG Daugherty Racing|
|7||7||Tommy Baldwin Racing|
|32||32||Go Fas Racing|
|33||95||Circle Sport Racing|
The 2016 NASCAR Sprint Cup Series season will kick off with the Sprint Unlimited on Saturday, Feb. 13 and the 58th running of the Daytona 500® on Sunday, Feb. 21 at Daytona International Speedway®. The Sprint Unlimited and the Great American Race® will be broadcast live on FOX, MRN Radio and SiriusXM NASCAR Radio, with additional coverage on NASCAR.com.
The National Association for Stock Car Auto Racing, Inc. (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States. NASCAR consists of three national series (the NASCAR Sprint Cup Series™, NASCAR XFINITY Series™, and NASCAR Camping World Truck Series™), four regional series, one local grassroots series and three international series. The International Motor Sports Association™ (IMSA®) governs the IMSA WeatherTech SportsCar Championship™, the premier U.S. sports car series. Based in Daytona Beach, Fla., with offices in eight cities across North America, NASCAR sanctions more than 1,200 races in more than 30 U.S. states, Canada, Mexico and Europe. For more information visithttp://www.NASCAR.com and http://www.IMSA.com and follow NASCAR at www.Facebook.com/NASCARand Twitter: @NASCAR.