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NASCAR Charters increasing in value


Now as the sport gets ready to introduce an entire new model of car in ’22 that is slated to make it much cheaper to operate a team, new owners are coming into the sport and charters have become hotter commodities. That has made their value rise, sources say. The charters that have been sold have largely ranged in price from several million to the $6M that Spire Motorsports paid for the now-defunct Furniture Row Racing’s charter in ’18, which at the time was a high. "

Historically in NASCAR, it has taken about $20-30M annually to operate a top-flight car. The new model of car is expected to lower that number by close to 50%. Prize money given out to chartered teams will also continue to grow next season because the sport’s media-rights deals appreciate through their duration and that extra money is partially passed onto the teams. Even the worst charter still pays out low seven figures annually.

The biggest new investor in the sport is Michael Jordan, who joined driver Denny Hamlin to buy the charter of outgoing team Germain Racing. Sources said that charter was priced around $5M… Leavine Family Racing sold its franchise to rising outfit Spire Motorsports; sources said this charter was priced closer to $4M

See much more at Sports Business Journal.