NASCAR and its race teams are working toward a charter agreement, but it hasn’t been smooth sailing. The Cup Series owners want a better financial model while making the charter system permanent. NASCAR has pushed back on the idea, but the owners are united in their mission. Now, a deal could be coming sooner rather than later.
According to Sports Business Journal’s Adam Stern, NASCAR Chief Operating Officer Steve O’Donnell said a charter agreement is “very close.” O’Donnell also spoke about splitting money correctly with the new media partners joining the sport.
“Ultimately, when our owners look at where the sport’s potential is in terms of all the new media partners, the balance that we do have with linear and now being able to go with the Amazons, [TNT Sports], all the opportunities we have with content, I think they get it,” O’Donnell said. “Everyone wants to sit down and argue over who’s going to split the money the right way, but ultimately we’ll get to a good place.”
Previously, Legacy Motor Club co-owner Jimmie Johnson said the negotiations were in the “eighth or ninth inning,” so O’Donnell’s words back up his statement. NASCAR and the Cup Series owners need to find an equal footing in this battle, and thankfully, a solution to the charter system appears to be on the verge of completion.
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