UPDATE: NASCAR and NASCAR Cup Series team owners today announced the extension of the Charter agreement through 2024.
"The Charter agreement is delivering stability and long-term value to existing team owners while providing a clear path for ownership in the NASCAR Cup Series," said Steve Phelps, NASCAR President. "We are pleased to have reached an agreement with the team owners that extends the length of the Charter system until 2024. A healthy ownership structure ensures strong, competitive racing for our fans, which is a goal the industry collectively shares."
— NASCAR —
UPDATE: The Race Team Alliance has confirmed that it is recommending that members approve the renewal agreement.
— Adam Stern (@A_S12) February 13, 2020
— Jerry Jordan (@JerryJordan_KTT) February 13, 2020
ORIGINAL POST 2-10-2020: NASCAR teams are nearing an agreement with the sanctioning body to extend the sport’s charter system, according to sources, and an announcement of the renewed accord appears to be imminent. The initial five-year term of the charter agreement, running from ’16-20, had the option for a four-year renewal period that would cover ’21-24.
Sports Business Journal last August reported that NASCAR had to inform teams of the terms of the renewed agreement by Sept. 1, and that teams had to inform NASCAR of whether they would accept the terms between January and March of this year.
— Sports Business Daily (subscription required) —