The Charter system was implemented between NASCAR and team owners in 2016 for an initial term of five years, with the option to renew it for an additional four years.
Under current deal, teams this year will get about $260 million in total to be distributed among themselves, with money coming from TV, tracks and @NASCAR.
? Teams have to give NASCAR notice of whether they intend to accept the renewal offer between Jan. 1 and March 1, 2020. pic.twitter.com/uMaeVfEKQ8
— Adam Stern (@A_S12) August 5, 2019
For more information on charters and older news, see Jayski’s NASCAR charters page.