NASCAR and its teams are working on a charter agreement that will expire after the 2024 Cup Series season. The charter system was implemented to guarantee teams specific financial payments and other perks. However, the teams are looking for a better business model and to make the charter system permanent with time rolling off the clock.
According to NBC Sports’ Dustin Long, Legacy Motor Club co-owner [autotag]Jimmie Johnson[/autotag] met with the media ahead of the on-track action at Texas Motor Speedway. Johnson gave a big update on the current stance of negotiations between NASCAR and its teams.
“I think it’s going to come down to deep in the year…Right now it’s still posturing,” Johnson said. “I know we feel like the clock is ticking, but if you look at how much time is left, we’re just getting into the eighth inning, maybe ninth inning of what really needs to happen in negotiations for all parties.”
Jimmie Johnson goes for a spin early in Texas. https://t.co/kb4VfZQm1t pic.twitter.com/MerthRV4o1
— FOX: NASCAR (@NASCARONFOX) April 14, 2024
“But what’s ultimately been most impressive to me is just how the team ownership group has stuck together. I think we’re a lot stronger as a unified group, hearing a consistent message. That’s something that’s been more difficult for owners in the past, but the ownership group has been very committed to that and I think that’s been very useful.”
The best thing for NASCAR would be a new charter agreement with its race teams. The idea of organizations having a permanent charter is great because they have put so much into the sport. A better financial model should also be in order as teams struggle to make a profit annually. Hopefully, the two sides can reach an agreement with the ninth inning coming soon.
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