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NASCAR charters doubling in value

The next NASCAR charters that are sold are expected to go for at least $12M, according to sources, which is around a 100% increase from just last year. The end of the ’21 NASCAR season is this week at Phoenix Raceway, and the charter market is still active with a handful of deals being negotiated ahead of the ’22 season that begins in February. NASCAR’s version of franchises were first introduced in ’16 as a way to grow enterprise value for team owners, and prices were stagnant for in the low to mid seven figures for several years. However, as the prospect of a cheaper team ownership model via the Next Gen car became clear last year, charters started creeping up in value. Those that sold in ’20 went for around $6M, sources say. However, the eight-figure mark was cracked for the first time earlier this year when Spire Motorsports sold two charters to Kaulig Racing, with one of them going for $10M and the other going for $8M, according to sources.

See much more at Sports Business Journal.